Wall Street 2026 bonuses seen flat to slightly positive

Johnson Associates expects 2026 Wall Street bonuses to stay flat or rise slightly. Geopolitical risks and private credit issues offset gains in M&A and trading.

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Insights:

Wall Street bonuses will remain flat or rise slightly in 2026 as geopolitical conflict and private credit volatility pressure financial incentives. According to New York State Comptroller Tom DiNapoli, payouts jumped 9% in 2025 to a record $49.2 billion. Investors should monitor how shifting compensation reflects a pivot from private credit toward traditional advisory and trading.

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