Wall Street’s Dramatic Year Ends With Flat Bonuses for Traders
- Firms may sweeten trader payouts by a few percentage points
- But for many, bonuses are in rut after boom-and-bust cycles
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Wall Street’s dramatic year of dealmaking drought, collapsing banks and job cuts is ending with a mere whimper for traders’ bonuses.
At JPMorgan Chase & Co., the overall bonus pool for its legions of traders will be close to flat compared with 2022, according to a person familiar with the matter. That’s similar to Citigroup Inc., in the midst of its biggest restructuring in decades, where the pool will likely be little changed if not slightly down, another person said, asking not to be identified discussing private information.