Happy holidays for some.
JPMorgan plans to boost bonuses for investment bankers while Morgan Stanley increases the cash portion of year-end payouts, the Wall Street Journal has reported, citing unidentified people familiar with the plans.
Bond, currency and commodities traders will probably have their payouts cut about 5%, it said.
Morgan Stanley will distribute a larger share of bonuses in cash instead of deferred payments, the Journal said. The firm deferred bonuses last year for people getting both total pay of more than $350,000 and at least $50,000 of incentive compensation.
Wall Street firms are under pressure to increase rewards for equity traders and dealmakers whose divisions fueled revenue this year amid a slump in fixed-income business. Total pay for employees in fixed-income units may be down 10%, recruitment firm Options Group wrote in a November report.
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