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Wall Street Bonuses Soar 15% To Highest Since 2007

Tyler Durden's picture




 

Wall Street bonuses (on average) in 2013 rose 15% to the highest since 2007. As OSC Tom DiNapoli notes, "Securities industry employees took home significantly higher bonuses on average... although profits were lower than the prior year." In fact, as we noted earlier, profits at the banks fell 30%.

 

 

Average compensation for securities industry professionals in New York City ($360,700) were 5.2 times greater than the rest of the private sector ($69,200).

 

Thank You Ben...

But don't get too excited... The US is not #1 when it comes to bonuses...

 

Which global financial services centre should you situate yourself in if you work in banking and want to earn a big bonus? Surprisingly perhaps, the eFinancialCareers 2013 bonus survey suggests the answer is the City of London.

 

The average bonus in the UK was $98k (£58k) in 2013, according to survey respondents. This compares to an average of $72.9k in the U.S. and just $32.7k and $20.2k in Hong Kong and Singapore respectively. 

 

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Wed, 03/12/2014 - 15:52 | 4540094 DoChenRollingBearing
DoChenRollingBearing's picture

"All in all it´s just another brick in the wall..."

Pink Floyd has always had cynicism right.

Wed, 03/12/2014 - 15:55 | 4540105 Winston Churchill
Winston Churchill's picture

All in all its just another rope over a hole, sounds better.

Wed, 03/12/2014 - 15:57 | 4540123 Soul Glow
Soul Glow's picture

In the end their paper will burn, their reality will shatter, and those who weren't ready for the end of a failed economic policy and criminal finance will be forced out from their highrise buildings back to the dirt of the earth, dead or alive.

Wed, 03/12/2014 - 16:07 | 4540158 cifo
cifo's picture

Nice, I'm looking for a job on wall st.

Wed, 03/12/2014 - 16:09 | 4540166 Rainman
Rainman's picture

 because Obama ....  < somebody had to say it >

Wed, 03/12/2014 - 15:55 | 4540101 Dr. Engali
Dr. Engali's picture

I can feel the bankers trickling down on me now.

Wed, 03/12/2014 - 16:09 | 4540173 disabledvet
disabledvet's picture

"war profiteering dead ahead."
Europe and Washington might not have their act together (YET)...that doesn't appear to be the case for Wall Street here. "The cost of chaos is high" and Napoleon had a hard time getting a loan as a consequence. EVER.

http://www.youtube.com/watch?v=0Cl7cxopNjg

Wed, 03/12/2014 - 15:55 | 4540106 gjp
gjp's picture

They're just being fairly rewarded for the collapse in trading volumes detailed on ZH earlier.  Got to make sure we hold on to the 'talent', wouldn't want them to go and create this kind of prosperity somewhere else ...

Wed, 03/12/2014 - 15:59 | 4540129 Soul Glow
Soul Glow's picture

So....gold.  Massive up day in the face of Obama selling his limited supply of reserve oil.  Maybe the market knows this act was out of pure desperation, and this puny release will only exacerbate rising commodity prices.

Wed, 03/12/2014 - 16:02 | 4540136 yogibear
yogibear's picture

Why produce anything. Make the big money and be a bankster skimming money circulation/movement. The HFTs make quite a bit money.

The bonuses are enormous on Wall Street if your a higher level manager.

You now know where most of  the Federal Reserve QE money is going.

Wed, 03/12/2014 - 16:03 | 4540140 Think before yo...
Think before you comment's picture

Thank you USA, thank you Wall Street for this great, great system of self-enrichment and living at the expense of others. Until some decades ago the US produced and exported some of the best products in the world. In the last decade the US produced mainly wars and exported moral deprivation. How about "back to the roots". Hang the culprits first.

Wed, 03/12/2014 - 16:04 | 4540145 gamera9
gamera9's picture

Hey the Mcdonalds guy is gonna get a 50% raise, those bankers are getting screwed.

Wed, 03/12/2014 - 16:05 | 4540148 TaperProof
TaperProof's picture

The people should occupy wall street and protest this some day. Then we will see some real change!

Wed, 03/12/2014 - 16:13 | 4540186 Yen Cross
Yen Cross's picture

 

   Q: Do you know how to tell J.P.M. and Goldman Sachs offices are located in hi-rise buildings in your financial district?

      A: They have tungsten bars on the windows!

Wed, 03/12/2014 - 16:28 | 4540237 buzzsaw99
buzzsaw99's picture

Looting the company and the country simultaneously. total. regulatory. capture.

Wed, 03/12/2014 - 16:33 | 4540247 MeelionDollerBogus
MeelionDollerBogus's picture

"hahahahaha

THAT'S WHY I'M RICHER THAN YOU ARE!

mwahahahahahaahahaha"

Roll tha muthafuckin guillotines.

Wed, 03/12/2014 - 16:35 | 4540251 Roger Shermanator
Roger Shermanator's picture

Hey, when you go the entire year without a single trading day loss, you deserve a bonus /sarc.

Wed, 03/12/2014 - 16:45 | 4540294 evernewecon
evernewecon's picture

I just hope our counterparties will
remain solvent when the banks' latest
artificial bubble bursts.

They'll be on the same side,
but we'll be playing along, not
selling out.

What was special about 2008 was the
absence of solvency for their
bubble shorts.

For all that went in to buying
their mortgage bubble there
were the sellers.

When the banks got caught without
payers on their shorts, those who
simply understood what was happening
and took their equity out of their
houses and said to their neighbors
good bye but not good bye we're just
moving a few blocks down the coast
into a rental till this mortgage
bubble blows off faced what's now
history:

no interest income on the proceeds

paying for the loss sharing and
holding borrowers' feet to the
fire--likely to no avail ultimately
owing to the re-defaults, which,
though, implies a hanging scheme
for possibly quite some time to come

and all the while, of course, those
who naively chased with 5/10% down
should have non-recourse and the
banks should have skin in the game.

Wed, 03/12/2014 - 17:03 | 4540364 SubjectivObject
SubjectivObject's picture

Hey bank shareholders; Whudju get?

Or maybe pension fund holders; Succahzz got no idea.

Wed, 03/12/2014 - 17:08 | 4540385 RaceToTheBottom
RaceToTheBottom's picture

I would like to give WS'ers a bonus.....

Wed, 03/12/2014 - 17:51 | 4540515 walküre
walküre's picture

Someone's ever increasing bonus is many other's steadily increasing cost of living.

For every 1 new Ferrari or Bentley sold to a Wall Street parasite, 1000 Chevs or Fords remain parked and channel stuffed.

Labor participation rate is down, down, down. Ergo the capacity in which members of society can participate is also down.

Never before in recent American history has the discrepancy been this obvious.

There will be blood.

Wed, 03/12/2014 - 18:01 | 4540529 RaceToTheBottom
RaceToTheBottom's picture

I would love to propose we all gather money to send a shirt for every employee of WS Bankster firms.

Stencil a BullsEye on the back of the shirt.

Send it to the CEO or better yet, just put boxes of free shirts outside their NYC offices.

Send them to the news people as well.

Edit for NSA Bots:  Nothing more just to get them talking

Wed, 03/12/2014 - 18:20 | 4540581 epwpixieq-1
epwpixieq-1's picture

And someone was saying that there is NO inflation.

What about adding into the inflation index, a measure based on the average bonus increment on the Street,

Will not this be a good step forward, or as someone has expressed "a Small step for the Street a Big step for mankind", if I am allowed to rephrase of course.

But, hey, otherwise it must feel good to be place where the flow of money is felt strongly, although, something tells me that even that is only satisfying for about 5-6 days per year.

Wed, 03/12/2014 - 18:39 | 4540693 blindman
blindman's picture

bagmen pay the boss, the boss pays the earners,
mob rules.

Wed, 03/12/2014 - 20:22 | 4541078 yellowsub
yellowsub's picture

They gotta wait for bonus payouts before the crash.

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