Bonus Watch '11: Banks Ruined A Lot Of People's Indecent Proposal Fantasies This Year


Oh sure, total compensation was up on average but cash bonuses took a nice hit. Want to explain to Lloyd Blankfein et al how they're supposed to strip naked and roll around in a bunch of company stock?

The average New York City bonus declined by 9% last year, as banks and brokerages added workers and set aside less money for year-end payouts, according to a report released this afternoon by the office of the New York State Comptroller.

In total, Manhattan banks and brokerages handed out $20.8 billion in bonus payments for 2010, an 8% decline, according to the report. The average cash bonus on Wall Street fell to $128,530. That would mean the average cash payout in 2009 was $141,242, according to our calculations.

Comptroller Thomas P. DiNapoli said the drop in bonuses was driven regulatory reforms, specifically a greater share of compensation paid in salary or deferred. Total compensation actually increased by 6%, according to the report.

Smaller Bonuses On Wall Street In 2010 [FINS]


Bonus Watch '13: Deutsche Bank Is Mulling Over The Idea Of Paying A Li'l Less This Year, Would Appreciate Rivals Throwing Them A Bone And Doing The Same

The Germans might take an ax to bonuses, cutting them by 20 percent, or they might not. According to CEO Anshu Jain, what it may come down to is whether or not other banks will help him out here by getting on board with the proposed reductions, as it would make DB look bad to be the only firm doling out tough love this year. Thanks in advance.