Top Wall Street investment banks such as Goldman Sachs, Morgan Stanley and Bank of America (BofA) are expected to hike bonus payments for investment bankers in double digits this year as favorable market conditions led to an increase in dealmaking last year.
Bank of America is expected to increase its bonus payments by 10% on an average. Some bankers are likely to receive smaller bonuses in the mid-to-high single digits, while top performers will exceed the 10% range, Reuters reported.
