(Reuters) – Goldman Sachs Group Inc and JPMorgan Chase & Co may raise their bonus pools for investment bankers by 40% and 50%, respectively, Bloomberg News reported on Tuesday, citing people with knowledge of their initial deliberations.
Investment banking units at both banks are set for their biggest windfalls after recent meetings to set pay for the year, according to the report.
Both, Goldman Sachs and JPMorgan declined to comment.
Record levels of deal-making and trading activities have driven profits at investment banks this year as economic stimulus measures helped propel stock markets globally to all-time highs.
Compensation firm Johnson Associates Inc said last month that bonuses for Wall Street staffers were expected to be at their highest this year since 2009, with investment bankers and equities traders in line for the biggest payouts.
Overall, incentives at the end of this year, including cash bonuses and equity awards, will be significantly higher compared with last year, when most professionals saw a decline in awards, the study showed.
(Reporting by Manya Saini in Bengaluru; Editing by Anil D’Silva)
