High Pay is Back on Wall Street
From Fins.com:
Old habits are hard to break on Wall Street, which looks like it may be back to lofty pay packages of 2007.Goldman Sachs is poised to pay out about $20 billion this year, which comes to a cool $700,000 per employee. This is a few thousands higher than compensation in the boom-days of 2007. Morgan Stanley is expected to pay out $11 to $14 billion, for a per-employee average much higher than in 2008.
Other banks such as Citi and BofA are increasing salaries but cutting down on bonuses, hoping the sleight-of-hand will appease critics while stemming the exodus of talent.
It’s good work — if you can get it. Speaking of, these are good days to be employed in fixed-income and junk bond trading, according to the WSJ.