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Wall Street bankers plan to spend their huge bonuses a little differently this year

It’s bonus season on Wall Street, and a rich one at that, but people aren’t spending like they used to, says Andy, an anonymous financier turned Instagram financial influencer.

March 29, 2022 / 09:09 AM IST
The silhouettes of pedestrians are seen passing in front of the New York Stock Exchange (NYSE) in New York, U.S., on Friday, May 19, 2017. U.S. equities advanced at the end of a turbulent week as corporate results and a rally in commodities fueled optimism in the world's largest economy. The dollar headed for its steepest weekly slide since July.

The silhouettes of pedestrians are seen passing in front of the New York Stock Exchange (NYSE) in New York, U.S., on Friday, May 19, 2017. U.S. equities advanced at the end of a turbulent week as corporate results and a rally in commodities fueled optimism in the world's largest economy. The dollar headed for its steepest weekly slide since July.

Arbitrage Andy senses a vibe shift.

It’s bonus season on Wall Street, and a rich one at that, but people aren’t spending like they used to, says Andy, an anonymous financier turned Instagram financial influencer.

On hold, for many, are the usual bonus-time baubles: bespoke Brionis, Rolex Daytonas, Porsches 911s and so on.

Instead, in these days of pandemic, war and financial uncertainty, more Wall Streeters are temporarily banking their 2022 bonuses. Some, alarmed by the surge in inflation, are seeking shelter in cryptocurrencies. Others are sniffing out real estate in work-from-home-friendly locales, hunting up pied-à-terres in the city so they can split their time.