Bonuses - 'No One's Come Out Skipping'

Bonuses season has now kicked off with staff at Lehmans and Goldman said to have been given their numbers Wednesday.

Reuters reports that insiders talk of 'mixed' results - and one unnamed Lehman banker is quoted, saying that 'no one's come out skipping and there are a few glum faces around. But no one was getting ahead of themselves considering markets have not been fabulous this year'. The news agency, again quoting an unnamed 'insider', said that bonuses were better for middle-ranking investment bankers, but mixed for more senior staff.

Goldman has enjoyed an excellent year, and staff bonus expectations were understandably high. Staff in the firm's investment banking division are said to have been advised that their bonus will be at least 25% up on last year.

Both firms are thought likely to see most of their fixed income teams all right this bonus round, but equities are likely to receive payments fairly flat on last year. Leveraged finance is thought to have done well at Lehman and staff in derivatives at Goldman are believed to have been mostly happy with their bonus numbers.

Morgan Stanley will advise staff of the size of their bonus cheques later today.

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