Economic Woes Won’t Stop Big Wall Street Bonuses

by LukeAmerica2020
It’s no secret that investment bankers are well-compensated, mostly through year-end bonuses, especially during bull markets. But can they still count on those big bonuses this year, in the midst of the financial crisis and sharp market declines?

On CBS’s The Early Show Wednesday (2008-11-12) correspondent Priya David spoke with several compensation consultants who said that, even in this economy, firms are worried that, if they don’t pay out the bonuses, they’ll lose their top talent — people they want to keep around for when the economy improves.

She reported that lawmakers and taxpayers alike are concerned about where the money for those bonuses will come from. For Wall Street workers still employed, there could be a hefty bonus in their checks next month. According to a report from financial news agency Bloomberg, Goldman Sachs, for example, has set aside $6.8 billion for bonuses, and Morgan Stanley, $6.4 billion.

Vodpod videos no longer available.


If you enjoyed this post, PLEASE VOTE for it by pressing
the DIGG button. Then, on the page that opens, click the
“digg it” button on the left side to vote on it. THANKS.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: