BANKERS at Goldman Sachs, JP Morgan and Morgan Stanley will this week discover how much they will earn in bonuses.
JP Morgan has already announced it will pay a total of $9.7bn (£6.1bn) in staff bonuses – a four per cent increase on last year. Individual bankers will be told how much they will receive on Wednesday.
Goldman is expected to unveil its bonus payments tomorrow and Morgan Stanley will hold meetings with bankers throughout the week.
The total bonus pool expected in the UK is around £7bn.
The government is not now expected to levy a further bonus tax after last year’s one. It is discussing how to get agreements with the retail banks in the UK to raise lending.