Wall Street workers set for highest bonuses since 2009 – Metro US

Wall Street workers set for highest bonuses since 2009

FILE PHOTO: A street sign, Wall Street, is seen outside
FILE PHOTO: A street sign, Wall Street, is seen outside New York Stock Exchange (NYSE) in New York City, New York

NEW YORK (Reuters) – Year-end bonuses for Wall Street staffers are set to be the highest since 2009 this year, with investment bankers and equities traders in line for the biggest bonuses, compensation firm Johnson Associates Inc said on Tuesday.

Overall, incentives at the end of this year, which include cash bonuses and equity awards, will be significantly higher compared with last year, when most professionals saw a decline in awards, the study shows.

The awards reflect record levels of deal-making and trading activity as government stimulus measures helped propel global stock markets to all-time highs.

Bonuses for investment banking underwriters are projected to jump by as much as 35%, while investment banking advisers and equities sales and trading professionals can expect to see awards increase 20%-30%, according to the research.

“This year’s bonus season on Wall Street should be one for the record books,” said Alan Johnson, managing director of Johnson Associates. “Virtually all financial services industry segments, including investment banking, asset management and alternative investments are performing at record levels. This, in turn, will translate into incentive award increases we haven’t seen in the industry since before the Great Recession.”

Double-digit increases are projected for workers at private equity and asset management firms, hedge funds and those in management and staff positions.

Retail and commercial banking workers, however, are projected to receive payments that will increase a more modest 5%, the study shows. Payments for fixed income sales professionals and traders are projected to be similar or slightly less compared with last year.

(Reporting by Matt Scuffham; Editing by Dan Grebler)