“Wall Street firms are expected to pay bigger bonuses for 2024, the first increase since a record 2021.”, — write: www.epravda.com.ua
Wall Street firms are expected to pay bigger bonuses for 2024, the first increase since a record 2021.
About this informs Reuters.
It said payouts were likely to rise after financiers benefited from several factors in recent months: renewed deal-making, interest rate cuts by the Federal Reserve and stock markets rising to record highs.
Although the bonuses will be more generous, they will remain below the record levels of 2021, when earnings and rewards were abnormally high.
Investment bankers involved in debt underwriting are forecast to see the biggest jump in bonuses, at 25% to 35% in 2024, thanks to the recovery in activity. Their peers in the equity markets are likely to get a 15%-25% raise.
Bankers advising on merger agreements will receive an increase in bonuses from 5% to 10%. Equity sales and trading professionals can expect their bonuses to increase by around 15%-20%, while fixed income payouts are likely to increase by 5%-10%.
But not all bankers share the joy of the recovery Bonuses for retail and commercial bankers are likely to decrease or remain at the same level during the year.