Record Bonuses Back At Wall Street (GS, MS, JPM)
According to an estimate released by Thomas DiNapoli, the New York State Comptroller, the bonuses paid out to Wall Street executives have risen 17% to $20.3 billion in 2009 compared to last year.
The total compensation at the bigger security firms have increased by an even faster rate to $55 billion. The compensations at Goldman Sachs (NYSE: GS), Morgan Stanley (NYSE: MS), and JPMorgan Chase (NYSE: JPM) have surged by 31% in 2009. However, the total estimated bonus is a third of the amount paid out in 2007.
Also the share of compensation to net revenue has fallen to 40% compared to the average of 50 % in the past years.
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