Related

Bonus Watch '12: Now With Less Cash

According to "revenue compensation trends," though good vibes and happy thoughts could prove them wrong. Wall Street’s cash bonus pool is likely to fall for a second straight year as the financial industry grapples with market turmoil, economic weakness and new rules, New York state Comptroller Thomas DiNapoli said. Revenue and compensation trends have “edged downward” since February, when DiNapoli estimated that the 2011 pool for Wall Street declined by 13.5 percent to $19.7 billion, the comptroller said today in a report. “Based on those trends, the total cash bonus pool for work performed in 2012 is likely to decline for a second year in a row,” DiNapoli said in a statement. The last time the pool shrank for two consecutive years was in 2007 and 2008, at the beginning of the global financial crisis, according to the comptroller’s office. Wall Street Bonus Pool Seen Shrinking for Second Straight Year [Bloomberg]