Feature

Fewer traders, bigger bonuses

Cash bonuses to Wall Street employees jumped 15 percent last year, to an average of $164,530.

There are fewer jobs on Wall Street these days, but bonuses for bankers and traders are still getting bigger, said William Alden in NYTimes.com. According to a report from the New York state comptroller, cash bonuses to Wall Street employees jumped 15 percent last year, to an average of $164,530. “That was the biggest average bonus since 2007, the year before the financial crisis struck.” Wall Street workers took home a total of $26.7 billion in bonuses alone last year, with “everyone from the low-ranking employee to the chief executive” getting something. But that big pie is being split among ever fewer people. The financial industry employed just 165,200 people at the end of 2013, a decrease of 1.2 percent from the previous year, as firms “sought to keep costs in check”—except, apparently, for cash bonuses.

Recommended

Israeli parliament approves coalition, Netanyahu out
Naftali Bennett.
changing of the guard

Israeli parliament approves coalition, Netanyahu out

Biden, Putin express openness to cybercriminal exchange
Joe Biden.
depends on what you mean

Biden, Putin express openness to cybercriminal exchange

Netanyahu goes 'scorched earth'
Benjamin Netanyahu.
loose cannon

Netanyahu goes 'scorched earth'

Biden says he's 'satisfied' with G7's final stance on China
G7 summit.
that'll do for now

Biden says he's 'satisfied' with G7's final stance on China

Most Popular

Georgia election workers reportedly received a 'torrent' of threats
Trump rally.
The big lie

Georgia election workers reportedly received a 'torrent' of threats

Bernie Sanders wants to know if cannabis reporter is 'stoned' right now
Bernie Sanders.
Sounds dope

Bernie Sanders wants to know if cannabis reporter is 'stoned' right now

7 toons about the Dems' Joe Manchin problem
Political Cartoon.
Feature

7 toons about the Dems' Joe Manchin problem