Wall Street Pay Is Going To Hit a Record $144 Billion This Year

Photo:

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.

Read the whole thing >

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.