Sunday, November 27, 2011

Wall Street Pay Hits a Wall

Financial-services workers are bracing for an icy dive into a shallow year-end bonus pool.

Employees at big Wall Street firms could see annual compensation sink 27% to 30% from a year earlier to the lowest level since the 2008 financial crisis, according to a closely watched compensation study due out Monday, the Wall St Journal reports..

Bonuses, which constitute a substantial part of many finance workers' pay, are on track to plunge 35% to 40%, on average, according to the forecast by Options Group, an executive search and consulting firm. Pay is likely to be hardest hit in areas such as fixed income, which comprises….

Read more at http://online.wsj.com/article/SB10001424052970203764804577060652927268624.html?mod=WSJ_hp_LEFTWhatsNewsCollection

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