Wall St.

Top Banks Set for Record Bonuses

Goldman Sachs, J.P. Morgan, and Morgan Stanley—the three largest banks to exit from TARP, so far—are set for a record year in bonuses: $29.7 billion, to be exact. That’s a 60 percent rise from last year, and more than 2007’s previous record of $26.8 billion. Divided out, it equals $250,400 for each employee. As a concession to regulators, the banks will pay out more in stock, in order to encourage long-term thinking.