kathimerini.gr
Wall Street Bonus Boom
Wall Street bonuses are set to surge up to 35% in 2024, driven by robust corporate deals, favorable policy changes under the Trump administration, and a rise in global transactions.
Greek
Greece
EconomyUs PoliticsLabour MarketInvestmentFinanceBankingMarkets
Johnson AssociatesLsegGoldman SachsEvercoreMars
Donald TrumpAlan Johnson
- How has the increase in bonuses impacted the job market?
- The rise in bonuses has triggered intense competition for talent, with employers offering substantial guaranteed salaries to attract and retain bankers.
- What is the projected increase in Wall Street bonuses for 2024?
- Wall Street bonuses are projected to increase by up to 35% in 2024 due to strong performance of US listed companies and policy changes in Washington under the second Trump presidency.
- What factors have contributed to the increase in global transaction activity?
- Lower interest rates have facilitated financing conditions for investors, leading to increased global transaction activity; for example, Goldman Sachs expects to earn over $90 million in advisory fees from the Kellanova sale to Mars.
- Which sector within Wall Street is expected to receive the largest bonus increase?
- Investment banking professionals will receive the highest bonuses, with increases ranging from 25% to 35%, resulting from lucrative deals and high profitability.
- What was the global compensation amount for investment banking during the first ten months of 2024?
- Global investment banking compensation increased by 20% during the first ten months of 2024, reaching $40 billion; however, activity levels remain lower than the peak of 2021.