Wall Street Pay Will Be Higher Than Ever This Year
The big recession officially ended in June of 2009. In practice, the only people for whom it ended work on Wall Street. Last year, Wall Street pay was a record high. This year? Even higher.
The WSJ did a survey of "Wall Street," meaning the top three dozen or so banks and investment firms. Behold those numbers!
Total projected Wall Street revenue, 2010: $448 billion (up 3%)
Total projected Wall Street pay, 2010: $144 billion (up 4%)
In other words, Wall Street pay this year is projected to be more than the gross domestic product of New Zealand. Of course, New Zealanders don't make credit default swaps. So.
