Oct 9 (Reuters) - Bonuses for Wall Street dealmakers

could expand by 7.4% in 2024 as a rebound in dealmaking boosts

fees pocketed by investment banks, according to a report

published by New York State Comptroller Thomas DiNapoli on

Wednesday.

The anticipated surge would mark the first increase in two

years as corporations begin to emerge from a subdued dealmaking

environment.

Economic resilience, a searing rally in stocks and the

beginning of a potential rate-cutting cycle have allowed

companies to pursue takeovers and sales of stocks and bonds.

Bonuses constitute a significant portion of compensation on

Wall Street. The industry's fortunes also influence the economy

of New York City and the state.

One in 11 jobs in New York City was tied to the securities

industry as of 2022. The industry is also among the largest

tenants of office spaces, contributing to property-related

taxes.

In the fiscal year of 2024, the industry contributed $5.1

billion in tax revenue to the city, the Comptroller's report

said.

However, annual performance reviews and restructurings may

lead to 3,400 fewer jobs in 2024 than a year ago, based on

preliminary data the report cited.

Investment banks have used such reviews to streamline their

operations by eliminating underperformers and trimming excesses

within their ranks.

The Comptroller's report is significant because it sheds

light on key trends shaping the financial hub of the United

States.

Major Wall Street firms are set to kick off the earnings

season on Friday, which could provide more insight into these

trends.