According to Towers Watson, 53 per cent predicted an increase, 33 per cent expected alternative pay strategies and seven per cent expected a decrease.
The EU cap would see financial services industry bonuses capped at twice the basic salary.
Over half of firms said they would offset the bonus cap by formalising training programmes, flexible working programmes or health and wellness programmes.
The poll surveyed over 150 employees attending the annual Towers Watson Global Financial Services conference
Over two thirds of people said they were expected further regulation in the next few years with politicians and regulators having the most impact followed by shareholders.
If the bonus cap led to departures from firms, respondents said talent was most likely to head to New York or Hong Kong.
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Mark Shelton, managing director of Towers Watson Talent & Reward practice, said: "Financial services companies are aware that when the EU bonus cap comes into force many of their employees are going to receive overall lower pay and they recognise the need to make up for this shortfall in a number of different ways.
"Some will do it through higher fixed pay or increased pension contributions, but many companies are planning to invest in training and career development, healthcare and flexible working programmes in order to continue to motivate and engage employees despite the potential impact on their annual pay."
However, the majority of respondents said talent management, performance management and training were of more concern than pay.

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