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Wall Street firms will likely reduce bonuses rather than cut jobs to control expenses this year,...

Wall Street firms will likely reduce bonuses rather than cut jobs to control expenses this year, says Morgan Stanley's Betsy Graseck. Compensation will probably drop from a year ago as banks attempt to avoid further headcount reductions after culling their ranks heavily last year, with most of the cuts coming from employee bonuses rather than base salaries. And bonuses, as we all know, represent a disproportionately large percentage of the income for Wall Street professionals.
Comments (2)
  • Concerned_Investor
    , contributor
    Comment (1) | Send Message
     
    Isn't it about time that the people who caused the financial crisis begin to pay for some of it?
    26 Sep 2012, 07:18 PM Reply Like
  • lakapil
    , contributor
    Comments (2) | Send Message
     
    Change in total bonus must be directly proportional to the change in earnings or losses per share for a publicly traded company.
    27 Sep 2012, 02:04 AM Reply Like
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