There seems to be a pattern emerging among the big US-based investment banks.
It doesn't matter whether you speak to Citi, Goldman Sachs, JPMorgan or Morgan Stanley bankers. The message on bonuses seems to be the same.
Juniors got reasonably well looked after and senior bankers felt the pinch.
So it is fair to say that Bank of America Merrill Lynch's bankers knew what to expect when they fronted up to comp day on Wednesday.
While it is too early for recruiters to work out exactly what happened at Merrills, expectations were that they would be in line with rival banks.
Recruiters said that heading into Merrill's bonus day, the expectation was that there would be haves and have nots. And every banker in the building would have a fair idea on which side of the ledger they would fall.
As always, it comes down to team revenue - that means the local team, regional team and the overall bank.
As reported by Street Talk, Morgan Stanley kicked off bonus season among the big Wall Street banks almost a fortnight ago.
It was followed by Goldman Sachs, Citi and JPMorgan.
Bankers at the European banks - Credit Suisse, UBS, Deutsche Bank and the like - will find out their numbers in the coming weeks.
