Wall St Bonus Falls 44%

Question

Wall Street firms slashed cash bonuses for New York City employees by 44 percent in 2008, as they reeled from record losses in the securities industry, New York State’s comptroller said in a report issued on Wednesday.

https://www.nytimes.com/2009/01/29/busin ... f=business

Toubab · Answer

Considering that most of their firms are getting bailed out with my tax money, I'm ticked that they're getting any bonuses at all. Leeches.

nink · Answer

They should just forget bonuses next 2 years and hire us MBAs instead.... :-D

billyjeans · Answer

Not trying to undermine your point, but isn't this the same exact reason why we are all (wanted to) headed to the wall street. 8-)

nink · Answer

We won't be in position to get significant raise or bonus for 3 to 5 years after MBA. So the game plan in the short run - firms should forfeit bonus and use the money for MBA recruiting and hire an army of MBA grads. :-D

THEN AFTER 2 YEARS, START GIVING OUT BONUSES AGAIN ... 8-)

We would benefit both ways! (please pardon for my delusion...)

Toubab · Answer

Obama calls out the banks for their profligacy:

https://www.nytimes.com/2009/01/30/busin ... ma.html?hp

Honest to god, those jokers should be put in jail. I can't wait for that banking model to shrivel and die.

nink · Answer

Nah, we don't need banking to die. That will just kill us MBA grads. We just need most of them to retire so we can take over in 2 years.... :twisted:

isa · Answer

NYT invited various industry folks (journalists, consultants) to weigh in on the bonuses....the opinions are all pretty much "anti-bonus" but interesting to read.

https://roomfordebate.blogs.nytimes.com/2009/01/29/bonuses-for-bad-performance/?hp

Wall St Bonus Falls 44%

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