State:
Free Special Resources
Get Your FREE Special Report. Download Any One Of These FREE Special Resources, Instantly!
Featured Special Report
Claim Your Free Cost Per Hire Calculator
This handy calculator lets you plug in your expenses for recruiting, benefits, salaries, and more.

Graphs automatically generate to show you your annual cost per hire and a breakdown of where you are spending the most money.

Download Now!
December 13, 2001
Wall Street Bonuses Drop Sharply
Bon
For a Limited Time receive a FREE Compensation Market Analysis Report! Find out how much you should be paying to attract and retain the best applicants and employees, with customized information for your industry, location, and job. Get Your Report Now!
uses on Wall Street this year are expected to be down more than 30 percent from last year's record high, according to projections made by New York State Comptroller H. Carl McCall.

McCall forecasts that Wall Street firms will pay out $10 billion in bonuses this year. For the 165,000 securities industry employees in New York City, that works out to an average bonus of $60,000.

Last year, $14.3 billion were paid to 178,000 employees, working out to an average bonus of $74,000.

"With employment and profits on Wall Street down, we're going to see fewer employees taking home smaller bonuses," McCall said. "But a $60,000 bonus is still considerably more than what many people take home in salary in a year. And from a historical perspective, this will still end up being a good year for Wall Street. It's just that after the kinds of performances we've seen in the recent past, anything short of a record-breaking year is a disappointment."

According to McCall, the average annual salary of someone working in New York City outside of the securities industry is $45,000.

To visit the New York state comptroller's Web site, click here.


Participate in this week's HR.BLR.com poll and discussion!

Featured Free Resource:
Cost Per Hire Calculator
   
   
 
 
Twitter  Facebook  Linked In
Follow Us
CT-WEB02
Copyright © 2016 Business & Legal Resources. All rights reserved. 800-727-5257
This document was published on http://Compensation.BLR.com
Document URL: http://compensation.blr.com/Compensation-news/Benefits-Leave/Employee-Benefits/Wall-Street-Bonuses-Drop-Sharply/