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Business is booming for Wall Street investment banks. Most had a record first quarter; many are forecasting that 1996 will be a bumper year, perhaps even on a par with 1993. But the mood among a lot of investment bankers is one of gloom. The past two months have seen more finance professionals switching jobs that at any time we can remember. There is a general dissatisfaction among investment bankers with the size of their compensation, particularly with the meagreness of the bonuses many received in March and April to reward them for their efforts last year. |
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