Bankers expected to get higher bonuses this year

Every year, as tradition, Wall Street Bankers try to negotiate higher bonuses, this year owing to the economic progression, they might actually get bigger cheques. 

The deals and stock trading markets have been supercharged as the country works furiously for an Economic Recovery post-pandemic, subsequently, American bankers have made significant profits. Johnson Associates, a Wall Street compensation consultancy has predicted that the bankers might see these profits in the form of 30 to 35 percent higher bonuses. These payouts will be the highest since the 2008 financial crisis. While the 30-35 percent bump is for bankers who underwrite equity or bond offerings, financiers who advise on mergers and acquisitions and equity traders and salesmen are expected to get an increase of 20 to 25 percent in their bonuses. Another reason why financial firms are giving out massive bonuses is that during the time of The Great Resignation, these firms cannot afford to and do not want to lose their top performers. Therefore like all other employers in America, they too are working towards keeping their talent. Alan Johnson, Managing Director of Johnson Associates said that usually during a time of crisis there is a lull in job turnovers as employees try to lay low and hold on to their jobs, on the contrary, 2021 and 2022 is expected to witness higher job turnovers with top-performing bankers jumping ship three months within the bonuses. 

Source: The New York Times