Wall Street bonuses have been slipping since reaching a peak of $34 billion in 2006, but with asset management firms expected to announce stellar earnings for the third quarter, those bonuses are expected to come back big time, CNNMoney.com reports.
Last year, financial executives got only $18 billion in bonuses, a figure almost certain that this year’s bonus pool will beat. And with 16,000 fewer people working in investment management than at the end of 2008, for a current total of 162,000, the average bonus size will be bigger.
Investment banking areas that have done quite well include fixed income, currency and underwriting.
