City bankers are expecting a doubly rewarding bonus season this spring, driven by relaxed deferral rules that allow faster access to stock-based payouts. New regulations have shortened the timeline for releasing deferred bonuses, boosting near-term cash flow for senior staff.

The change stems from October reforms that rolled back post-crisis restrictions. With NatWest, Barclays, and HSBC shares up over 50% in the past year, previously deferred stock awards are now worth significantly more, fattening potential payouts.

Industry watchers say the shift is fueling optimism among finance professionals. However, not all sectors are thriving — muted IPO activity has dented fees for investment bankers and their support networks. Some may opt to front-load pension contributions before new tax limits take effect.

Many anticipate using their bonuses for savings or spending, though some may consider relocating due to tightened UK tax thresholds. Last year, over half of FT readers reported larger bonuses despite working harder due to shifting performance targets and higher taxes.