Wall Street workers set for highest bonuses since 2009 -Breaking
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By Matt Scuffham
NEW YORK, (Reuters) – Year-end bonuses to Wall Street employees are expected to reach their highest level since 2009. Investment bankers and equities traders will be in line for the largest bonuses, Johnson Associates Inc announced on Tuesday.
The study indicates that incentives, including equity and cash bonuses, at the end this year will be substantially higher than last year’s, where most professionals experienced a decrease in their awards.
These awards are a reflection of record-breaking deal-making activity and trading activity, as stimulus measures by the government helped push global stock markets up to new heights.
Research shows that bonuses for underwriters in investment banking will increase as much as 35%. However, awards for advisers, equities traders, and investment banking consultants can see increases of 20%-30%.
Johnson Associates’ managing director Alan Johnson said that this year’s Wall Street bonus seasons should go down in history. “Virtually each segment of financial services, which includes investment banking, asset managing, and other investments, is performing at record levels,” Johnson Associates’ managing director said. In turn, this will result in increased incentive awards that we haven’t seen since the Great Recession.
For workers in private equity, asset management firms and hedge funds, double-digit growth is expected.
However, payments to retail and commercial banks workers are expected to increase by only 5%. Fixed income traders and professionals with fixed income are expected to receive similar payments or slightly more than last year.
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