Fri January 21, 2011
The Two-Way

Wall Street Bonus Season Is In Full Swing

Bloomberg reports that the Wall Street Bonus Season of 2011 will no doubt be a little off. Quoting an expert in compensation, they say most bonuses will be 5 to 10 percent lower than last year.

Still, for the layman, the bonuses still seem astronomical. Examples?

— JPMorgan plans to spend about $369,651 per employee.

— Goldman Sach's number works out to $430,700, a 14 percent drop from last year.

Bloomberg reports on executive compensation at one bank:

Citigroup Chief Financial Officer John Gerspach got $2.33 million and Vice Chairman Lewis Kaden received $4.29 million. Americas consumer banking chief Manuel Medina-Mora got $4 million. Mike Corbat, head of Citi Holdings, got $4.88 million, as did the bank's chief administrative officer, Don Callahan. The bank disclosed last year that Chief Executive OfficerVikram Pandit declined a 2010 bonus. Shannon Bell, a Citigroup spokeswoman, declined to elaborate on payouts.

Bloomberg did the math on the four biggest banks and their bonuses for this year will average of $141,192 per employee. Copyright 2011 National Public Radio. To see more, visit http://www.npr.org/.

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