Wall Street banks have long trumped their European rivals on bonuses, but a fierce battle for junior and mid-ranking staff over the past year has shaken up that pecking order.

Goldman Sachs has emerged as by far the biggest payer at these ranks, according to a survey by specialist recruiters Dartmouth Partners, with average bonuses of £180,500 for associates up by 54% and £350,400 for vice presidents surging by 52% on the previous year. Elsewhere, the picture is mixed.