The 2025 banking bonus calendar: Who's last?
Brace yourselves – bonus season is upon us.
Get Morning Coffee ☕ in your inbox. Sign up here.
Kind of. It’s already started and ended for Canadian banks, but Wall Street is joining the fun, with Morgan Stanley having announced yesterday (to a mixed reception). Most American banks will announce their bonuses between now and mid-February. European banks will come after that, with Barclays and UBS are expected to begin the continent’s bonus season, which will close out with Deutsche Bank and BNP Paribas in early March.
The last banks to announce bonuses, however, are the APAC ones. In most years, Nomura and Macquarie announce in May.
The table below compiles data from recruitment firm Prospect Rock Partners, data tracking social media announcements, and historic records to estimate when the world’s major investment banks will (or already have) announce their bonuses this season.
2024 bonuses are coming to bankers with high expectations. Last year was pretty good for the industry, with investment banking revenue increasing by 23% and 19% in the Americas and EMEA, respectively, according to LSEG (formerly Refinitiv). Compensation consultancy Johnson Associates was expecting bonuses to increase by up to 35% as a consequence.
Have a confidential story, tip, or comment you’d like to share? Contact: +44 7537 182250 (SMS, WhatsApp or voicemail). Telegram: @SarahButcher. Click here to fill in our anonymous form, or email editortips@efinancialcareers.com. Signal also available.
Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)
