Bumper ’07 bonuses seen for Street
Year-end bonuses on Wall Street will probably set yet another record this year, topping last year’s figures by 10% to 15%.
Year-end bonuses on Wall Street will probably set yet another record this year, topping last year’s figures by 10% to 15%.
Last year, bonuses on Wall Street totalled $23.9 billion, up 17% from 2005’s bonuses, according to a forecast from Johnson Associates Inc., reports said.
Private equity workers will see the largest gains, scoring increases of at least 20%, reports said.
Record volumes of buyout activity are fueling the bonus increases.
On the investment banking and trading end, increased profitability from proprietary trading and derivatives are raising year-end incentive pay, according to the survey, Reuters reported.
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