The Globe and Mail reports in its Friday, Dec. 5, edition that Canada's biggest lenders have increased bonuses across the board to end the year, as tariff turmoil led to more activity in capital markets and wealth management, boosting banks' profits.
The Globe's Stefanie Marotta writes that performance-based compensation at Canada's largest banks increased by 15 per cent on average to a total of $27.3-billion this year, up from a 12-per-cent rise in 2024. All of the Big Six banks raised their bonus pools this year, with increases ranging from a 24-per-cent jump at National Bank of Canada to 13-per-cent increases at Bank of Montreal and Royal Bank of Canada.
"Activity levels are very high and investment banks and other advisory firms are bullish on 2026 and beyond," said Adam Dean, founder and president of Dean Executive Search. "Our clients have had phenomenal fiscal years, and if you're not getting paid well on Bay Street in a year like 2025, I'd say that you never will."
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