Wall Street bonuses expected to jump by double digits at biggest banks

Atop Wall Street's largest investment banks, executives are locking in plans to award traders and dealmakers their biggest bonus increases since the pandemic, with 10 percent hikes or more coming for many desks, according to people briefed on the plans.

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At Bank of America Corp, that is the average increase in store for investment bankers and traders handling stocks and fixed-income products, people with direct knowledge of the decisions said, asking not to be named discussing personnel matters.

At Morgan Stanley and larger rival JPMorgan Chase & Co, bonuses will rise more than 10 percent for traders, people familiar with their deliberations said. And for JPMorgan's investment bankers, bonuses will rise roughly 15 percent.

Among senior industry executives, it is broadly expected that Goldman Sachs Group Inc will go even further for some of its trading desks. Spokespeople for all of the banks declined to comment.