Investment bankers are still the kings of Wall Street when it comes to bonus time.
Investment bankers can expect their bonuses to increase 25% this year, according to compensation consulting company Johnson Associates. That compares to a 15% increase in bonuses for traders in the equity and fixed-income divisions of Wall Street firms. Executives in prime brokerage groups can also expect a 15% increase in year-end compensation.
This year, large Wall Street firms have become more dependent on trading revenue to boost the firm's quarterly results. But when it comes to bonuses, investment bankers still make out better than traders on a percentage basis. Goldman Sachs(GS Quote), Lehman Brothers(LEH Quote), Merrill Lynch(MER Quote) and Bear Stearns(BSC Quote) all attributed blockbuster second-quarter results to trading at the firms. ...
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