Who Got More of Their Fired Colleagues’ Bonus Money?

Congratulations: You’ve survived. Or, you haven’t and are still bitterly reading a Wall Street blog. No matter. The first group of you may be 1,000 members fewer this year, but you’ll be $20 billion richer by the time the last bonus checks go out.

New York securities firms will pay employees $20 billion in cash bonuses, up from $18.5 billion for 2011. The projected increase follows a steep decline of 19% for such payouts a year ago. Even so, bonuses remain about 42% below the lofty levels of 2006, when the pool totaled $34.3 billion….

The average cash bonus rose 9% to roughly $121,900. The figure increased more than the total cash bonus pool because it was shared among fewer workers than the prior year, the report said.

Employment totaled 169,700 jobs as of December 2012, 1,000 fewer jobs than in December 2011, as the securities industry shrank again In response to fearful markets and muted client activity. The report estimated that Wall Street lost 28,300 job from November 2007 to January 2010, but has added only 8,500 so far during the recovery from the global financial crisis.

Wall Street’s Cash Bonus Pool Hits $20 Billion [WSJ]

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11 Responses to “Who Got More of Their Fired Colleagues’ Bonus Money?”

  1. Yep says:

    Sweet comment, errr, article…

  2. Everyone says:

    Shlazango, shut up or get in a debate with a major news organization. The DB commentariat will accept nothing less from editors whose inboxes are not national treasures.

  3. VonSloneker says:

    [youtube HW8spd55t8I youtube]

  4. Kweku says:

    Shazbutt, You fucking SUCK!!!!!!!

  5. Honest Opinion says:

    Good post Shazzie!

    In before "you're related to him…"
    In before "STFU….."
    In before "Kill yourself…."

  6. velvet melvin says:

    The dirt you must have on Bess….

  7. Guesto says:

    Who's Jon Shazar?

  8. Guest says:

    "Congratulations: You’ve survived (more miraculous than Meriwether still having a fund) . Or, you haven’t and are still bitterly writing a Wall Street blog of a much lower quality than Dealbreaker."

  9. Lots of People says:

    Well, at least now I have the time to attend the UC San Diego Conference on Transfer Pricing!

  10. Jimmy Demuney says:

    What is the point of this dull article?Its also misleading, but probably unintentional, that title talks about gaining extra cash in the form of a greater share of bonuses but article claims a (collective) gain of $20bn , with the implicit comparison being to those who got no bonus at all.

    Bankers earn more with extra bonus than without, you heard it here first.