Goldman Sachs and the law firms representing 2,800 women — Lieff Cabraser Heimann & Bernstein, and Outten & Golden — announced that they have resolved a gender discrimination class action lawsuit for $215 million, ending a legal action that began in 2010 and would have gone to trial next month, officials say. A lawyer for… Read More >>
War, Interest Rates & Inflation Shrank Wall Street Bonuses
If you hear a few roars emanating from Wall Street towers, they are most likely about the decline in cash bonuses for 2022. Thomas P. DiNapoli, the comptroller for the state of New York, has just released his annual estimate for Wall Street bonuses and they have dropped by an average of 26 percent because… Read More >>
Average Wall Street Bonuses Hit $257,500
Bonus season on Wall Street is here and it could be quite lucrative for some. For achievements in 2021, bonuses for staff at actual Wall Street firms grew by 20 percent over bonuses for 2020, according to the New York State Comptroller’s office. “The average bonus paid to employees in New York City’s securities industry… 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 >>
Salaries Soar for New Wall Street Recruits
Salaries are up for Wall Street’s newest recruits, even as the financial industry as a whole continues to shed jobs after a financial crisis and the brutal recession that followed, a new report finds. A recent survey of MBA grads and other students found 43 percent of respondents reported their base pay at $125,000 or… Read More >>
Middle- and Back-Office Pay Edges Upward
Base salaries and bonuses in the middle- and back-office are continuing to edge closer to the pay packages of those in the front office, a trend that’s been unfolding ever since the financial crisis. However, large discrepancies remain among banks for middle- and back-office wages, a new report finds. Salary benchmarking site Emolument.com recently released… Read More >>
SEC Proposal Takes on Executive Pay
The SEC is proposing to give investors and others a new way to tell if executives at banks (and other public companies) actually deserve the high salaries, stock options and perks they are getting. However, being able to check executive salaries against new performance metrics and against results within a peer group may not be… Read More >>
