It’s good to be in finance
From WSJ: Wall Street on track to award record pay
Major U.S. banks and securities firms are on pace to pay their employees about $140 billion this year — a record high that shows compensation is rebounding despite regulatory scrutiny of Wall Street’s pay culture.
Workers at 23 top investment banks, hedge funds, asset managers and stock and commodities exchanges can expect to earn even more than they did in 2007, according to an analysis of securities filings for the first half of 2009 and revenue estimates through year end by The Wall Street Journal. Total compensation and benefits at the publicly traded firms analyzed by the Journal are on track to increase 20% from last year.
These companies paid $130 billion in compensation and benefits in 2007, at the stock market’s peak. That fell to $117 billion last year.
Using company filings for the first half and revenue estimates for the second half, WSJ estimates projected compensation per employee at top Wall Street investment firms. Here is a link to the raw data, below a list of the top 10.
NOTE: This includes only public companies
- Blackstone: $4.04 million per employee
- Och-Ziff: $878k
- Goldman Sachs: $743k
- Jeffries: $514k
- Lazard: $473k
- BlackRock: $318k
- Legg Mason: $291k
- Eaton Vance: $280k
- IntercontinentalExchange: $279k
- Morgan Stanley: $263k