The most important day of the year on Wall Street is near
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Loading...The most important day of the year on Wall Street — bonus day — is edging closer.
It is the day that banks tell employees what they'll receive for their work from the previous year. Bonuses, not base salaries, are where bankers make their millions.
It looks as if the first couple of banks will announce bonus numbers this week.
All the details below are from people with knowledge of the schedules at the banks. All asked not to be identified:
Morgan Stanley is expected to tell its staff the all-important numbers on Thursday.
Citigroup is expected to announce on Friday.
JPMorgan could announce in the middle of next week.
Goldman Sachs is set to go a day or two after that.
Bank of America is due to announce at the very end of January.
Representatives at all the banks declined to comment.
Banks tend to group their announcements around the time earnings are reported (those reports kick off Thursday), which means US banks typically announce in January and European banks announce in February.
Wall Street seems to be pretty down on the bonus round this year.
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