By Matt Scuffham (Reuters) – JPMorgan Chase & Co and Goldman Sachs Group Inc may raise their bonus pools for investment bankers by as much as 40% and 50% respectively this year, sources familiar with initial discussions said on Tuesday. Investment bankers at both firms are anticipating bumper windfalls following recent meetings to set pay for the […]
Goldman and JPMorgan to Increase Bonuses for Bankers
By Matt Scuffham
(Reuters) – JPMorgan Chase & Co and Goldman Sachs Group Inc may raise their bonus pools for investment bankers by as much as 40% and 50% respectively this year, sources familiar with initial discussions said on Tuesday.
Investment bankers at both firms are anticipating bumper windfalls following recent meetings to set pay for the year, the sources said.
Both, Goldman Sachs and JPMorgan declined to comment.
Record levels of deal-making and trading activities have driven profits at investment banks this year as economic stimulus measures helped propel stock markets globally to all-time highs.
Compensation firm Johnson Associates Inc said last month that bonuses for Wall Street staffers were expected to be at their highest this year since 2009, with investment bankers and equities traders in line for the biggest payouts.
Overall, incentives at the end of this year, including cash bonuses and equity awards, will be significantly higher compared with last year, when most professionals saw a decline in awards, the study showed.
(Additional reporting by Manya Saini in Bengaluru; Editing by Anil D’Silva and Jonathan Oatis)
