Wall Street firms tie bonuses, promotions to AI skills, survey finds
The firm polled 500 executives across the finance industry.
AI skills are increasingly being linked to pay and promotions in the financial sector, according to a survey by Selby Jennings, a recruitment firm specializing in financial services. Nearly 25% of firms tie raises, bonuses, or promotions to employees' proficiency with artificial intelligence, while an additional 30% require workers to disclose their use of AI tools in performance evaluations.
This shift indicates a broader trend as companies seek concrete benefits from their investments in AI technology. Dylan Gomez, executive director at Selby Jennings, explained that firms are no longer merely observing employees' use of AI but are now assessing its impact on output and business results. However, there is no standardized formula for tying compensation to AI usage and performance, but this is expected to become more defined within the next year, according to Gomez.
The survey revealed that 42% of respondents have implemented formal criteria to evaluate employees' AI skills, while 30% have established dedicated teams or roles responsible for tracking the effectiveness of their AI investments. Selby Jennings polled 500 executives from the finance industry to gather these findings.
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Also reported by 2 other outlets
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