Bonus Watch: Greenwich Connecticut Is Feeling Good Again

Author:
Publish date:
Updated on

We don't have to tell you bitching about bonuses is getting boring. Thankfully, the good people of Greenwich have nothing bad to say about them, and are actually just happy things are getting back to normal. They are spending like it's 2005 all over again, although they admit that they'll have to go about their business in a more demure manner this time around. Decency, and whatnot. "Last year was a big downer," said Michelle Brunwasser, a partner in the chic Weber art gallery. "Things are definitely better now, and a lot of it has to do with the bonuses."

Caterers' cell phones are ringing again. Luxury car dealers are sending the Porsches out for test drives. An architect is booking multimillion-dollar jobs for his "masters of the universe" clients, titans of Wall Street who've made this leafy Connecticut suburb of New York one of the wealthiest towns in the country.
At the Ferrari dealership, a handful of middle-aged men in sweaters and jeans milled about the showroom on a recent Saturday, running their palms over sports cars so select that the prices weren't listed. However, a new 458 Italia tops out at 202 mph and north of $300,000.

Related

Bonus Watch '12: Half Of Wall Street Feeling Pretty Positive About Pay Day

Now that we're nearly halfway through October, several items on your to-do list will have undoubtedly been upgraded in urgency: scouring Starbucks near and far for for Pumpkin Spice lattes before it's too late, and being dead serious in telling the baristas at the various locations claiming unavailability that they've ruined your life; coming up with a Halloween costume that's at once slutty and topical; and discussing bonus expectations. Despite the fact that bank CEOs and people who speak on their behalf have suggested (by saying outright) that pay will come down this year, and that anyone who still has a job in 3-4 months should consider that their bonus, some on Wall Street are apparently predicting they'll do pretty well for themselves this year and very well circa 2015. There seems to be a disconnect between what Wall Street execs have been reading lately and what they believe. Nearly half (48%) of them surveyed by eFinancialCareers expect their bonus to be higher this year despite recent news reports to the contrary...Of those who believe bonuses will increase in the next three years, over half (53%) are convinced bonuses will return to 2006-2007 levels. For those not as confident their take-home will soon revert back to the glory days and looking to make a change into a more lucrative field Bloomberg today notes that "welders top banking pay."* Despite news reports that Wall Street bonuses will be down, more Wall Streeters are expecting them to be higher [eF] Wall Street to Cut Pay Instead of Jobs, Graseck Says [BW] Caterpillar’s Worker Hunt Means Welders Top Banking Pay [Bloomberg] Related: Layoffs/Bonus Watch '12/'13: Morgan Stanley *...Though not until 15th paragraph is it noted that they're actually talking about 'bank tellers,' which seems less than helpful to the audience.