It’s about as official as it gets: the big money is back on Wall Street, Graham Bowley writes in The New York Times. Flush with record profits in 2009, investment banks and securities firms paid employees in New York City an estimated $20.3 billion in annual bonuses, according to a report released Tuesday by the New York State Comptroller. That was up from $17.4 billion for 2008. The tally, which is based largely on personal income tax receipts, provides a signpost for what has been one of the most controversial bonus seasons in Wall Street history.
Posts Tagged ‘short term incentives’
As financial firms rebounded last year, Wall Street bonuses for employees in the New York City securities industry rose almost 17% to $20.3 billion in 2009, according to a report released Tuesday by the New York State comptroller. That is compared to $17.4 billion paid in bonuses in 2008 after a record $42.6 billion loss in the securities industry. The 2008 figure reflected a 47% drop from what was paid in 2007, when securities industry employees received $32.9 billion.