Bank of America Sweetens Bonuses to Make Up for Its Restraint Last Year
- Firm plans to increase rewards for bankers by more than 40%
- Fixed-income traders whose 2021 revenue fell may get much more
Bank of America branch in New York.
Photographer: Ron Antonelli/Bloomberg
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Bank of America Corp., tallying its haul from a second banner year for Wall Street securities firms, is shifting its philosophy on bonuses and dramatically sweetening rewards after a bout of restraint a year ago.
Senior executives are planning to increase the bonus pool for investment bankers by more than 40%, according to people briefed on the discussions. And for sales and trading operations, bonuses could rise by an average of more than 30%, one of them said.