So much for this idea that it’s going to be a sad year on Wall Street characterised by layoffs and horrible bonuses.According to a survey undertaken by The Wall Street Journal pay is going to hit a record this year for the second year in a row.
All told, pay is expected to hit $144 billion, up 4% from last year. Revenue is only expected to grow 3% from last year, so compensation growth is growing a bit faster than revenue.
As for firm-specific pay, Citigroup — which is still partly under government ownership — is expected to have a relatively bad year, while Goldman and Bank of America employees will do well.
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