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BofA Boosts Banker Bonuses Amid Deal Surge
22 Dec
Summary
- Bank of America plans to raise top investment banker bonuses by 20%.
- The bank aims to increase its share of investment banking fees significantly.
- Overall Wall Street bonuses are projected to rise for the second year.
Bank of America is preparing to offer increased bonus payments to its top-tier investment bankers, according to recent reports. Top performers in dealmaking could see their bonuses rise by approximately 20%, reflecting a positive trend in deal activity.
The bank also intends to expand its overall bonus pool for the investment banking division. This strategic move is aimed at retaining talent and strengthening its position in the competitive financial landscape, with a goal to increase market share in investment banking fees over the next three to five years.
These potential increases align with broader industry trends, as financial compensation consultants predict a second consecutive year of rising bonuses for Wall Street professionals. The overall bonus pool is anticipated to reach its highest point since 2021, indicating robust activity in the financial sector.
