The Globe and Mail reports in its Saturday, Dec. 2, edition that half of Canada's six biggest banks reported higher profits for their 2023 fiscal year and half saw profits sink, but year-end bonus payments were consistent: They were boosted across the board. The Globe's Stefanie Marotta and Jameson Berkow write that while the increase in performance-based compensation varied widely from as low as 0.2 per cent at National Bank of Canada to a whopping 23 per cent at Toronto-Dominion Bank, all six institutions collectively set aside $21.2-billion for bonus pay in the fiscal year ended Oct. 31. That total represents a 9-per-cent increase from 2022. Last year, the country's largest lenders raised bonuses by a narrow 1.9 per cent amid a tight labour market that sparked competition for talent. Bill Vlaad, head of executive search firm Vlaad and Co., says one reason why banks have been able to set aside more money for performance-based pay in the face of a challenging market is because bonuses were increased much more modestly in 2022. He says: "The numbers were bad this year, but they could have been worse. I think a few firms last year took a little bit off the top in preparation for" a more challenging 2023.