Sunday, April 26, 2009
After Off Year, Wall Street Pay Bouncing Back
If pace set in first quarter continues average pay for bankers — much in bonuses — will rebound from lows of last year. As compensation has been put in the spotlight for being so high when many banks have received taxpayer help, six biggest banks set aside over $36 billion to pay employees, according to review of financial statements. Goldman stands out for setting aside most per person and set aside $4.7 billion for worker pay in the quarter. Would add up to average pay of $569,220 per worker — almost as much 2007, a record year. “We need to be able to pay our people,” said spokesman for Goldman. Hatip NYT.
Posted by Stuart Rosenthal