City workers 'face disappointment' despite bonus hopes

Two thirds of workers in the City of London expect to be paid a bonus, but many are likely to be disappointed, said a new report.

For despite the high expectations, banks and fund managers have performed worse than last year, according to recruitment firm Astbury Marsden.

A third of City staff believe their bonus will be higher than last year, with managing directors and other executives having the most optimistic expectations.

Adam Jackson, managing director of Astbury Marsden said: "City workers generally appear to be feeling buoyant about bonus prospects this year.

"Top level management are particularly bullish but this optimism is being severely tested.

"With investment bankers predicting a rise to their bonus payments this season, the current state of the market suggests that such positivity may be unjustified."

Pressure from shareholders and politicians to keep bonuses down may be restraining payouts, the report added.