Most Wall Street Workers Say They Expect Same Or Higher Bonus As Last Year: Survey

[mod mom]

Most Wall Street Workers Say They Expect Same Or Higher Bonus As Last Year: Survey

While most Americans aren’t expecting their incomes to rise with the cost of living in the near future, more than 60 percent of Wall Street professionals say they anticipate their bonuses will be higher or the same as the bonus they earned in 2010, according to a recent survey.

Sixty-two percent of Wall Street workers said they’re expecting a bonus that’s in line with last year’s or higher, according to a survey from eFinancialCareers.com. And while still a firm majority, that’s down from last year, when 71 percent of survey respondents said they expected the same or higher bonus than what they received in 2009.

The decline in expectations is likely due to a drop in confidence in big bank employees. The survey found that 38 percent of big bank employees anticipate a drop in their bonuses from last year, compared with 36 percent that are expecting an increase.

Big bank employees may be skittish because of a rash of recent layoff announcements. Bank of America plans to layoff 30,000 employees in an effort to trim about $5 billion per year the company announced last month. Barclays announced in August that it would slash about 3,000 jobs this year, while UBS said it plans to axe 5,000 jobs.

-snip

http://www.huffingtonpost.com/2011/10/10/wall-street-bonus-survey_n_1003641.html

They are just pushing the people, aren't they?

[Enrique]

1. see, Bloomberg was right

the 1% is hurting. :cry:

[mod mom]

3. It's like they're daring folks to bring out the tar & feathers (or worse)

[xchrom]

2. Recommend

[jmowreader]

4. Let me guess: the layoffs are all at retail level

You know that old saw, "a rising tide lifts all boats"? What actually happened is the rising tide washed the dollars out of the working man's pockets and floated it up to the top.

There is a shitload of money in this economy right now. But it's all at the top! What the rich have done is built a very tight circle and are passing money around inside it. Occasionally a buck or two flutters down to the rest of us, but for the most part it's staying up there.

This makes the dichotomy in the story at the top of the thread logical. The people at the top of the banking foodchain--the guys who service the people with two-comma paychecks--are doing well. The people who handle the working class--the guys who spend 95 percent of their earnings on essentials--aren't doing so well. And very, very few retail bankers could be considered "Wall Street."

[FarCenter]

5. The big bonuses go to Hedge Fund executives, not the bank executives

Hedge Fund Bonuses Are Going To Be So Much Better Than Bank Bonuses This Year, They Skewed The Survey Results
http://www.businessinsider.com/hedge-fund-bonuses-2011-10