Banking Big Shots Get Ready to Buy Toys, Show Off

According to the Securities Industry Association, bonuses this year are expected to rise 2.4% to $21.2 billion, the fourth best year on record. And while plenty of this payout will go into savings accounts and down payments, there are plenty of over-grown frat boys out there just looking for an ostentatious toy that screams “I am rich, shallow man compensating for my declining virility!” to the world. For those who can’t shell out the $200,000 it costs to pick up a Lamborghini Gallardo, even the most junior trader can afford the $1,750 a day rental charge, right?

Between donations to Unicef and the Red Cross, others will find time to travel:

There’s someone on Wall Street that’s taking 20 of his closest buddies for his bachelor party, renting a yacht, cruising in the Caribbean and ending up in Sandy Lane in Barbados on the golf course,’’ says Tatiana Byron, president of New York event planner 4PM Events. The cost: at least $200,000.

Money well spent, for sure.
Bonuses on Wall Street Spur Sales [Bloomberg]

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