Wall Street Bonuses Stayed Flat in 2010: Report

Wednesday, Feb 23, 2011  |  Updated 4:15 PM EDT
View Comments (
)
|
Email
|
Print
Wall Street Bonuses Stayed Flat in 2010: Report

State Comptroller Thomas DiNapoli says Wall Street bonuses remained relatively flat at $20.8 billion in 2010, the first full year after the national recession officially ended.

The estimate of cash bonuses to New York City securities industry employees is down from what was actually paid in 2009. But it is $500 million more than DiNapoli's bonus estimate a year ago.

It's about one-third less than the 2007 bonuses before the financial crisis.

DiNapoli says Wednesday's number reflects an industry shift toward deferred compensation and higher base salaries.

The comptroller's report says Wall Street profits totaled $27.6 billion in 2010, second only to 2009 when the industry benefited from massive federal bailouts and low interest rates.

In 2008, Wall Street firms gave out $17.4 billion in bonuses.

Get the latest headlines sent to your inbox!
View Comments (
)
|
Email
|
Print
Leave Comments
What's New
21st Century Solutions
The NBCUniversal Foundation is partnering... Read more
Follow Us
Sign up to receive news and updates that matter to you.
Send Us Your Story Tips
Check Out