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# Wall St Bonus Falls 44%

Author Message
SVP
Status: Burning mid-night oil....daily
Joined: 07 Nov 2008
Posts: 2400

Kudos [?]: 746 [0], given: 548

Schools: Yale SOM 2011 Alum, Kellogg, Booth, Tuck
WE 1: IB - Restructuring & Distressed M&A
Wall St Bonus Falls 44% [#permalink]

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28 Jan 2009, 10:48
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.

_________________

Kudos [?]: 746 [0], given: 548

Current Student
Joined: 23 Jan 2009
Posts: 118

Kudos [?]: 40 [0], given: 0

Schools: Fuqua
Re: Wall St Bonus Falls 44% [#permalink]

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28 Jan 2009, 11:16
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.

Kudos [?]: 40 [0], given: 0

SVP
Status: Burning mid-night oil....daily
Joined: 07 Nov 2008
Posts: 2400

Kudos [?]: 746 [0], given: 548

Schools: Yale SOM 2011 Alum, Kellogg, Booth, Tuck
WE 1: IB - Restructuring & Distressed M&A
Re: Wall St Bonus Falls 44% [#permalink]

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28 Jan 2009, 11:29
They should just forget bonuses next 2 years and hire us MBAs instead....
_________________

Kudos [?]: 746 [0], given: 548

Director
Joined: 18 Feb 2008
Posts: 786

Kudos [?]: 130 [0], given: 25

Re: Wall St Bonus Falls 44% [#permalink]

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28 Jan 2009, 13:19
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.

Kudos [?]: 130 [0], given: 25

SVP
Status: Burning mid-night oil....daily
Joined: 07 Nov 2008
Posts: 2400

Kudos [?]: 746 [0], given: 548

Schools: Yale SOM 2011 Alum, Kellogg, Booth, Tuck
WE 1: IB - Restructuring & Distressed M&A
Re: Wall St Bonus Falls 44% [#permalink]

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28 Jan 2009, 13:25
billyjeans wrote:
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.

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.

THEN AFTER 2 YEARS, START GIVING OUT BONUSES AGAIN ... We would benefit both ways!

_________________

Kudos [?]: 746 [0], given: 548

Current Student
Joined: 23 Jan 2009
Posts: 118

Kudos [?]: 40 [0], given: 0

Schools: Fuqua
Re: Wall St Bonus Falls 44% [#permalink]

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29 Jan 2009, 23:18
Obama calls out the banks for their profligacy:

http://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.

Kudos [?]: 40 [0], given: 0

SVP
Status: Burning mid-night oil....daily
Joined: 07 Nov 2008
Posts: 2400

Kudos [?]: 746 [0], given: 548

Schools: Yale SOM 2011 Alum, Kellogg, Booth, Tuck
WE 1: IB - Restructuring & Distressed M&A
Re: Wall St Bonus Falls 44% [#permalink]

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29 Jan 2009, 23:35
Toubab wrote:
Honest to god, those jokers should be put in jail. I can't wait for that banking model to shrivel and die.

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....

_________________

Kudos [?]: 746 [0], given: 548

SVP
Joined: 04 Dec 2007
Posts: 1689

Kudos [?]: 202 [0], given: 31

Schools: Kellogg '11
Re: Wall St Bonus Falls 44% [#permalink]

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30 Jan 2009, 11:54
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.

Kudos [?]: 202 [0], given: 31

Re: Wall St Bonus Falls 44%   [#permalink] 30 Jan 2009, 11:54
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# Wall St Bonus Falls 44%

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