Posts Tagged ‘Wall Street bonuses’

A Reason to Pray for Big Banker Bonuses

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Published in The Wall Street Journal November 10, 2009by Dennis K. Berman

If you are a taxpayer in the Northeast, here is some advice: Get down on a knee, clasp your hands and pray.
Pray for banker bonuses this year. Big ones. Cash, preferably.
New York’s state government, and its dysfunctional neighbors in New Jersey and Connecticut, already are in deep financial crisis. Without the tax revenue from Wall Street pay and bonuses, they could find themselves closer to the brink.
Like much of America, you may find the idea of big banker paydays unsettling. After all, it was taxpayers who saved Wall Street’s hide. Even now, the finance industry’s nose-in-the-air entitlement makes taxpayers feel all the more enraged over the bailouts.

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Filed under: Newsfeeds



Big Bonuses Are Back for Many on Street

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Published in The Wall Street Journal November 5, 2009by Aaron Lucchetti
Incentive pay on Wall Street is set to rise by about 40% as stronger financial markets collide with the political backlash over bonuses, according to a closely watched survey set to be released Thursday.
Johnson Associates, a compensation consulting firm in New York, projects that the biggest increases in year-end cash bonuses and equity awards will go to employees in rebounding businesses such as fixed income and equities. Those incentive-based payouts likely will surge by as much as 60% from last year, the survey found.

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Bankers Expect Rising Bonus Pay to Break Records in Global Poll

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Published in Bloomberg October 30, 2009 by Robert Schmidt and Ian Katz
 
In Washington and on Main Street, politicians and voters are railing against Wall Street’s multi- million-dollar pay packages. In the financial world, most executives expect their bonuses to match or exceed last year’s, with 1 in 10 predicting their best-ever payout.
Having shaken off the biggest economic decline since the 1930s, almost three in five traders, analysts and fund managers believe their 2009 bonuses will either increase or won’t change, according to a quarterly poll of Bloomberg customers. Only one in four see a decline. Asians are the most optimistic about pay and Americans and Europeans somewhat less so.

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Filed under: Newsfeeds