(eFinancial) Despite an extremely difficult fourth quarter, hedge funds were able to squeeze out a slightly bigger bonus pool for employees in 2018. Cash and long-term equity incentives were up 2% last year compared to 2017, according to a new report from pay consultant Johnson Associates. Only sell-side fixed income traders had a less fruitful bonus season, with incentivized pay dropping as much as 5%. Everyone else – M&A bankers, underwriters, asset managers, private equity professionals and sell-side equities traders, among other front-office roles – saw at least a 5% jump.

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