We're more than a little obsessed with the approaching bonus season here at DealBreaker. We love the drama of it. The promise of riches, the new gadgets, the real-estate shuffle, the broken hearts, the elation and the hatred. And, of course, the resume churning.
Today's bonus news comes from across the Atlantic. London bankers working for US firms will find themselves taking in the largest bonuses this year, the Times of London reported this morning.
Dealmakers at Goldman Sachs, JPMorgan and Citigroup will be the main winners in this year’s bonus round, with the biggest hitters in London receiving bonus rises of 30 to 35 per cent, each gaining between $8 million and $10 million.
The wave of mergers and acquisitions this year has propelled corporate financiers back to the top of the bonus tree after several lean years when they were eclipsed by proprietary traders and derivatives dealers.
“These guys have been the poor cousins of banking for some time,” said Matthew Osborne, a partner in Armstrong International, the headhunting firm that produced the figures. “But they have had a fantastic 12 months and there is a good pipeline of business for the first six months of next year,” he said.
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Dealmakers at US banks top bonus league with 35% rises [Times via DealBook]