Bank of America will pay healthy bonuses to its investment bankers this year but the compensation for its top performers will be spread over three years and the majority will be in stock, according to people familiar with the matter.
Top performers in the global banking and markets units, headed by Tom Montag, will receive bonuses of about $5m, while managing directors will receive $2.5m-$3m.
Across the entire spectrum of employees in global banking and markets, bonuses will, on average, be $300,000-$500,000.
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