Bank of America Corp., JPMorgan Chase & Co., and Goldman Sachs Group Inc. increased bonus pools for bankers and traders by a minimum of 10%.
The payout hikes follow a year of growth in dealmaking and market activities for the largest U.S. financial institutions.
Middle managers received notification of the compensation adjustments in recent weeks.
The 10% figure represents an average increase across the firms.
Individual rewards will vary, as top performers receive larger payouts while lower-performing staff receive smaller bonuses.
The increased compensation directly reflects the strong financial results reported by the banks.