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Pay Day

Near-Record Bonuses at BofA

$300-$500k on average, per banker.

cheats/2010/02/03/near-record-bonuses-at-bofa/mcdonald-banks-1_ricjos

Hey there, big spenders: Each banker and trader at Bank of America will collect a bonus between, on average, $300,000 and $500,000. That payout is close to what BofA paid in its peak year of 2006, though the ratio of compensation to revenue is down to 19 percent from 2006’s 27 percent. Twenty-five percent of the bonuses will be paid in cash with the rest in stock that won’t be available for at least a year and a half. Senior bankers with seven-figure bonuses will receive only 5 percent in cash.

Read it at The Wall Street Journal

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