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NEW YORK (CNNMoney.com) -- Wall Street bankers are putting together their wish lists for 2010 -- and they're not holding back. After last year's dry spell, bonuses for top-level executives are expected to be sky high. Maybe even records.
Bankers at Goldman Sachs and Chase are anticipating bonuses of more than $500,000 a piece, on average, so they'll have plenty to spend.
Here's where they'll be putting the money.
Real Estate: $3 million to $5 million
Buying apartments, second homes and vacation houses tops the list of ways bankers will most likely spend their money.
Wall Street's big bonus culture
Of course, the first status residence is in Manhattan, and bankers are already starting to check out the goods in advance of their windfall. They're putting up huge down payments, which has helped the $3 million to $5 million sector of the city's housing market to rebound, said Pamela Liebman, CEO of New York-based brokerage firm Corcoran.
At the low end, they can score a three-bedroom, two bath condo right on Central Park or a tony address on Fifth Avenue. The more adventurous poet-at-heart bankers can tap out buying a five-story Queen Anne on the Upper West Side or head to the once-bohemian East Village for two joined buildings that boast an owner's triplex with a stunning terrace -- and income-generating apartments and businesses below.
A makeover by a well-respected interior decorator can run at least $150,000 -- but usually is more like 30% to 40% of the bonus. Think: Charlie Sheen hiring Daryl Hannah to give his new condo -- and life -- a high-rent makeover in the 1987 flick "Wall Street."
Or, there is always the extravagance of buying a condo on the new Utopia oceanliner. It's the high life on the high seas for just $24 million.
Private school: $35,000 per child
Of course, the kids must have all the advantages that come with such prestigious addresses.
And these places don't come cheap: The famed Horace Mann School costs more than $34,000 a year per kid -- for kindergarten or senior year. That's more than it costs for a year as a Longhorn at the University of Texas. (Of course, a year at Yale is $47,500 -- just for tuition.)
Vacation: $40,000+
On top of essentials such as education, many bankers will use the fresh cash to get away. One banker, who wanted to remain anonymous, said he'll be escaping his crushing work schedule as an associate by spending three weeks in Argentina.
"Our luxury travelers are fascinated by the history in Israel and nearby Turkey and really want to have in-depth cultural experiences," Ganz explained.
A trip like that can cost $40,000 for the whole family -- on a budget. Plus, these travelers have to consider whether to bring the nanny. For something more intimate, Ganz said, people are asking her to arrange on-site babysitters or be booked in hotels that offer kids clubs.
Toys: $50,000+
Of course, generous bonuses also mean splurging on the fun stuff. "There has never been a better time to negotiate jewelry and watches, and I mean the finest of luxury watches," said Pedraza. "This is the opportunity to go in and negotiate what you want."
But when it comes to picking out these luxury goods, "no one's in the mood to experiment," he said. So, while still spending more than $50,000 on jewelry and watches, the monied are playing it safe by sticking to traditional brands such as Tiffany & Co. and Cartier.
Upkeep: $20,000+
But the high-profile package isn't complete without the appearance to match the expensive cars and watches.
That's why up to $20,000 of bonus money will likely fund personal upkeep, said Pedraza. And on Wall Street, this includes Botox -- even for men.
"Botox for men, getting your eyebrows plucked, all these things have become normal," he said. "Many older bankers will rejuvenate themselves with Botox and plastic surgery. They're not Hollywood but they still need to have that fresh, young appearance."
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