Deutsche Bank (NYSE:DB) is planning a roughly 10% increase in bonuses for its investment bankers, aligning their compensation with that of other major Wall Street firms, according to a media report dated Friday.

Deutsche Bank AG is planning to raise investment bank bonuses by about 10%, an increase that would put it in line with its Wall Street peers.

Bank of America's bonus pool for investment bankers will probably rise 10% for last year, a source familiar with the matter told Reuters. While the average increase will be 10%, some investment bankers will get smaller payouts in the mid-to-high single digits,

Deutsche Bank AG has changed the way it judges staff this bonus season, with a greater range of performance ratings and more weight given to non-financial aspects such as teamwork.

Wall Street's biggest banks are set to reward traders and dealmakers with their biggest bonus increase since the pandemic, reflecting a rebound in capital markets and M&A.