Wall Street Bonus Estimate: $38 B.
Bloomberg News reports that the leading Wall Street investment banks could hand out $38 billion in year-end bonuses--or, about $201,500 per employee. The bonuses would be spread amid 186,000 workers at Goldman Sachs, Morgan Stanley, Merrill Lynch, Lehman Brothers and Bear Stearns.
And, if history's any guide, the bonuses will then filter into basically evey nook of New York City's luxury economy, from jewelry to real estate to cars.
So much for tougher times.
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Interesting Article.
Please note that we will conduct our 2nd annual Wall Street Comps survey beginning of 2008, with results to be released in February.
Even though last year’s participation was already high, more submissions will result in more statistically relevant data points from which to draw comparisons and insights. Additionally, we strive to diversify our participant base across firms and tenure.
You can help to meaningfully increase the value of the survey by participating and by encouraging your friends and colleagues to participate at http://www.wallstreetcomps.com . The survey will be open on January 1, 2008.
Should you need a copy of our 2006 Survey, please let us know.
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The Wall Street Comps Team