Wall Street is experiencing a significant revival in its bonus culture, with expected increases of up to 35% for some bankers this year. Analysts report that bonuses are set to grow across various sectors for the first time since 2021, driven by a resurgence in dealmaking and private credit competition. Notably, underwriters are identified as the key winners in this bonus season. However, despite the optimism, some top bankers are cautioning against excessive expectations, particularly after the scrapping of the UK bonus cap. Overall, the recovery in bonuses points to a stronger financial performance in the current climate.