Wall Street Pay For 2009 Will Be Higher Than Ever


Here’s some free advice: Quit your job and find work on Wall Street, because according to the Wall Street Journal, America’s largest banks and securities firms will pay their employees $145 billion for 2009, breaking a record set in 2007. The number comes from an analysis of the compensation to “executives, traders, investment bankers, money managers and others at 38 top financial companies.” The sum of $145 billion represents an 18 percent increase over the $123.4 billion paid out in 2008 and a six percent increase over the $137.23 billion Wall Streeters made in 2007. This puts the average salary of employees at these companies at $149,192.

Turns out Bank of America spokesman Robert Stickler was right to get all pissy about people saying bonuses would be at a 2007 level. They’re actually higher.

Banks Set for Record Pay