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Wall Street Pay May Be Rebounding
By
Jen Chung
Published Apr 26, 2009
Modified Apr 26, 2009
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By
Jen Chung
Published Apr 26, 2009
Modified Apr 26, 2009
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Maybe financial executives on Wall Street can stop whining: Based on banks' recent profits, that many bankers will be seeing sweet paychecks this year. Sure, layoffs may have thinned the ranks a little, but the NY Times reports, "The average pay for those who remain — rank-and-file workers whose earnings are not affected by government-imposed limits — appears to be rebounding... In [JPMorgan Chase]’s trading and investment banking unit, if revenue stays at first-quarter levels, workers are on track to earn an average of $509,524 over the year. That figure was $345,147 in 2006." One recruiter said there haven't been "huge changes in the way people are talking about compensation. Wall Street is being realistic. You have to retain your human capital," while an analyst was more blunt, "Like everything on Wall Street, they’re starting to sin again. As you see a recovery, you’ll see everybody’s compensation beginning to rise."
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executive compensation
wall street
wall street pay
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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