… but don’t weep for them just yet: the average bonus paid to unique York’s bankers last year was over $172000,and is expected to topple by just 5 to 10%Pity Wall Street’s bankers. Their year-close bonuses are expected to topple by 5 to 10% this year – the first drop since 2011, according to a survey released on Monday. But before you reach for the tissues, and realise the average bonus (on top of salary) paid to unique York’s 167800 bankers last year was $172860. The average US household income last year was $53657,according to the US Census.
An annual study of Wall Street pay predicts that most bankers will suffer at least a 5% decline in their year-close bonuses, with some sections of the industry suffering falls of as much as 20%. It is the first time that bonuses have fallen in four years, and is caused by falling profits at many of Wall Street’s biggest firms,including Goldman Sachs and Morgan Stanley. Continue reading...
Source: theguardian.com