Wall Street firms are expected to pay heftier bonuses for this year, the first increase since a bumper year in 2021, according to a report by compensation consultancy Johnson Associates.

Wall Street bonuses are expected to be extra fat this year, with annual payouts of as much as 35% in some business groups, led by bond and stock underwriting. Not only is this the first time since 2021 that year-end bonuses will increase industrywide,