Wall Street Bonuses to Rise Up to 30%: Full Breakdown by Role
Wall Street bonuses are set to rise for a third straight year, with equity and deal bankers in line for up to 30% more as record trading fuels a record pool.
Image: Wikimedia Commons / Ken Lund
New York, November 11, 2026 — Wall Street bankers are heading for their biggest bonus season in years. Pay consultancy Johnson Associates said in its annual report, released November 10, that incentive pay for equity sales, trading and IPO underwriting staff will rise 20% to 30% in 2026 — the largest increase of any group on the Street, and a third consecutive year of higher bonuses across most of financial services.
The surge follows a year of heavy trading and a packed deals pipeline. Worldwide investment banking fees reached $99.4 billion in the first nine months of 2026, up 9% on a year earlier and the highest total since LSEG began tracking the figures in 2021. New York's securities firms earned $45.9 billion in pretax profit in the first half of the year, up 51.3% on the same period in 2025, according to the New York State Comptroller's office.
Key Takeaways
- Equity sales, trading and IPO underwriting bankers are projected to see bonuses rise 20% to 30% in 2026.
- M&A advisers are in line for 15% to 20% more; fixed-income traders should see 7.5% to 12.5%.
- New York's securities firms earned $45.9 billion in pretax profit in the first half of 2026, up 51.3%.
- Johnson Associates warns 2026 may mark a peak, with private credit the only area where bonuses are expected to fall.
How Much Will Wall Street Bonuses Rise in 2026 by Role?
The gains are uneven. Equity bankers sit at the top of the table, while the private-markets side of the industry faces a flat year at best.
| Role | Expected change in 2026 bonus |
|---|---|
| Equity sales, trading and IPO underwriting | Up 20% to 30% |
| M&A advisory | Up 15% to 20% |
| Bank executives | Up 10% to 20% |
| Equities asset management | Up 10% to 15% |
| Fixed-income sales and trading | Up 7.5% to 12.5% |
| Wealth management | Up 7.5% to 12.5% |
| Hedge funds | Up 5% to 15% or more |
| Private equity | Flat to up 7.5% |
| Private credit | Flat to down 7.5% |
Across the 15 major American and foreign banks tracked in the report, bonus pools are expected to rise about 15% on average. That follows a record 2025, when New York's bonus pool reached $49.2 billion and the average bonus rose 6% to $246,900.
Why Are Wall Street Bonuses Rising in 2026?
Trading desks have carried the year. Volatile markets kept clients active, trading volumes stayed high, and a steady flow of new listings kept underwriting fees coming in. Stocks have also rebounded sharply from the autumn sell-off.
New York City's budget had forecast $45 billion in Wall Street profits for the year; the Street passed that figure within six months. Alan Johnson, founder and managing director of Johnson Associates, called 2026 "the year of the bank." Goldman Sachs spent $16.6 billion on compensation in the first nine months, up 17% on a year earlier, even as its headcount shrank 2%.
Will Wall Street Bonuses Keep Rising in 2027?
Johnson warned that the good run may not last. The consultancy expects 2026 to mark a peak against a weaker 2027, citing geopolitical turmoil, stubborn inflation and the risk of an artificial intelligence bubble cooling markets and deal flow.
The first cracks are already visible in private markets. Private credit is the only area where Johnson expects bonuses to fall, down as much as 7.5%, while private equity pay is flat to up 7.5% at best. The consultancy said credit faces its own clear set of problems, even as banks grow cautious about AI debt.
Frequently Asked Questions
How much will Wall Street bonuses increase in 2026?
Johnson Associates expects bonuses to rise for a third straight year, with equity sales, trading and IPO underwriting staff in line for 20% to 30% more. M&A advisers should see 15% to 20% more, and fixed-income traders 7.5% to 12.5%.
What was the average Wall Street bonus in 2025?
The average bonus in 2025 was $246,900, up 6% on the previous year, according to the New York State Comptroller's office. The total pool reached a record $49.2 billion.
Will Wall Street bonuses fall in 2027?
Johnson Associates has warned that 2026 may mark a peak, with a weaker 2027 possible if geopolitical tensions, high borrowing costs and market volatility persist. Private credit bonuses are already projected to fall in 2026.
The final tally will come early next year, when banks pay out year-end awards and the comptroller's office publishes its count of the 2026 bonus pool.
