A 10 percent rise in bonuses for Wall Street securities industry participants reflects how trading firms were able to overcome the pandemic-related challenges of 2020, says Thomas P. DiNapoli, comptroller for the state of New York, via his annual report upon payments made to employees beyond their salaries. However, trading firms have been relying on… Read More >>
Wall Street Bonuses Down for 2018: DiNapoli Report
2018 was a good year for the Wall Street securities industry, but that wasn’t reflected in the average bonuses paid out to the industry’s employees in New York City. That’s the word from New York State Comptroller Thomas P. DiNapoli, who unveiled his annual estimate of lagniappes paid out during the traditional bonus season to… Read More >>
Wall Street Profits & Salaries Heading Upward for 2018
Securities trading firms based in New York City had pretax profits that reached $13.7 billion during the first half of 2018, representing an 11 percent jump over the same period last year, reports New York State Comptroller Thomas P. DiNapoli. The rise in profits follows a pattern as last year pretax profits “rose by 42… Read More >>
Wall Street Bonuses Propelled Skyward by 2017 Profits
Wall Street’s profits and thus bonuses for last year took a dramatic upswing, but the return of market volatility and an overhauled federal tax code might yield very different results for 2018. “The growth in the bonus pool likely benefitted from changes in the federal tax code that eliminates the corporate deduction for performance-based… Read More >>
Bonuses Lag Behind Profits for NYC-Based Firms
The unexpected, post-election “Trump Bump” in financial markets and a pause in big regulatory settlements yielded a sharp increase in profits for securities firms based in New York City in 2016. However, these factors will most likely not translate into bigger bonuses for the foot soldiers of the securities industry, according to an annual report… Read More >>
Fidelity Offers Buyout Plan for 3,000 Senior Employees
Online brokerage giant Fidelity Investments has launched a voluntary employee buyout program that is targeting 3,000 staff members who are 55 years or older and have logged a decade or more of service. The move will allow the firm to create opportunities for mobility for younger, less senior staff members and facilitate the next chapter… Read More >>
Deutsche Bank Trims Bonuses for 25% of Staff
With an eye toward future profits, Deutsche Bank’s top managers are scaling back on bonuses after multi-billion dollar settlements with regulators and announcing aggressive yet profit-gouging layoffs and other cost-cutting measures. One of the silver linings from the bad bonus news is that the bonus ban will impact only 25 percent of the firm’s employee… Read More >>
Buy Side Braces for Another Gloomy Bonus Season
The infamous Grinch had a change of heart when he tried to steal Christmas from Who-Ville, but he may have stolen the 2016 bonuses from the buy side instead. Remuneration for the asset management industry has been declining in 2016, and that will be reflected in annual bonuses that will be handed out early next… Read More >>
Wall Street Profits Up, Bonuses Down: NY Comptroller Predicts
Higher profits for Wall Street firms and lower bonuses for their well-paid employees, as well as a smaller, more geographically dispersed work force — those are the top-line takeaways from the annual state of the New York City securities industry report by New York State Comptroller Thomas P. DiNapoli. Because Wall Street is on track… Read More >>
Wall Street Profits and Bonuses for 2015 Not So ‘Yuge’
Perhaps the mixed news from the New York State Comptroller’s office will make Bernie Sanders happy as the candidate for the Democratic Party presidential nomination has been rallying his troops behind an anti-Wall Street message. In particular, Uncle Bernie been decrying the “yuge” bonuses that CEOs at Wall Street firms are accruing. But it looks… Read More >>
