Bank of America bonuses for dealmakers, traders are broadly flat -source

Bank of America's bonus pool for investment bankers will range from steady to 3% lower for 2023 under pressure from a slowdown in dealmaking, but star performers will get higher payouts, according to a source familiar with the matter. The company's traders can expect flat or modestly higher bonuses, except for standouts in mortgages and credit, who will receive high single-digit percentage increases over 2022, the source said. The bank began informing investment bankers and traders about their 2023 bonuses on Friday, the source said.