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Roula Khalaf, Editor of the FT, selects her favorite stories in this weekly newsletter.

Bonus season promises even bigger fortunes for City workers this year after British and US banks scrapped EU-imposed bonus caps – but how will yours measure up?

With M&A activity on the rise, some UK-based bankers and lawyers are excited about their salary and bonus prospects for this year and beyond. However, increased payout ratios may come at the cost of lower base salaries, further concentrating rewards in the hands of top dealmakers.

For the fourth year in a row, the Financial Times is asking readers confidentially to share their bonus round expectations; how they notice the change in salary policies and whether they want to invest, save or spend any money given to them.

FT 2025 bonus review

Our survey can be completed anonymously in less than five minutes click here. Or visit FT.com/bonussurvey

This year’s results are expected to be the first year that the bonus cap changes are fully reflected in the pay packages of top earners. Although the cap is lifted in 2023, British-based banks are taking time to review and fully implement their payment policies, presenting a mixed picture.

While European banks in London still have to put bonuses on double base salary, Barclays and JPMorgan decided to give the so-called material risk takers. up to 10 times their fixed pay, while Goldman Sachs chose to cut the base pay, but increase the bonus ratio to 25 times.

The legal profession is expected to be another big winner this bonus season, as the arrival of major US law firms in the capital disrupts the market, pay wars for talent.

Readers will be able to tell us anonymously how any changes will affect their personal salary prospects, as well as changing competitive dynamics in the wider recruitment market.

The survey also gives readers the chance to say how Labour’s first Budget has affected their financial planning, from the cost of payment of VAT on school fees how suggested inheritance tax reform making pension saving less attractive.

Last year The FT’s bonus survey revealed that many well-paid professionals are being squeezed by a combination of smaller payouts and higher interest rates.

Completed by nearly 3,000 FT readers, 58 percent said their bonus had fallen or flatlined compared to last year, and there was a sharp jump (64 percent) in the number of people saying they want to use their bonus to reduce debt. debts. However, half of the respondents still intend to invest most of any bonus payment tax effectively.

Changes to the banker bonus cap were ongoing at the time of last year’s poll, but four out of five FT readers said they preferred safety to glory, favoring high pay and limited bonuses, as opposed to low salary and an unlimited bonus.

The results of the anonymous poll will be collected and published in the coming weeks. Please make sure your response reaches us by the deadline of Monday February 10, and direct any questions to our usual email address, [email protected].