Will Wall Street Bonuses Be Slashed?

By Edward Harrison On Nov 30, 2010

CNBC’s Kate Kelly and David Faber say that Wall Street bonuses will likely be down this year as much as 28% across the board despite high earnings. Clearly, Wall Street now understands that compensation is being watched by government and voters. Is this the beginning of a newfound compensation constraint in financial services? Take a look.

banks wages

Edward Harrison 7783 posts 575 comments

Edward Harrison is a senior Editor at Bloomberg. He is also the founder of Credit Writedowns newsletter, a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.

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5 Comments

fresnodan says 14 years ago

Clearly they have figured out that the average rube will be impressed with a markdown of 28%, just like with a snuggie.
Yeah, instead of 100 million, Mr. Banker only gets 72 million. We used to have this system called “profit and LOSS”
Scrooge “Are there no workhouses?” Why is any CEO of a TBTF bank not destitute as a real market would demand?
D_bh says 14 years ago

the more important statistic is total comp…sure bonuses could be down YoY, however most banks adjusted base salaries higher, so net-net total comp could be 10-15% higher YoY

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