Wall Street cash bonuses down 8%
15:31, 24 February 2011
LONDON. February 24. KAZINFORM Cash bonuses for Wall Street bankers fell by 8% to an average $128,530 (£79,259) in 2010, according to New York state Comptroller Thomas DiNapoli; Kazinform refers to BBC News.
"Cash bonuses are down, but that's not an indicator of a weakness on Wall Street," said Mr DiNapoli.
In fact, overall compensation, including stock awards, grew by 6% in 2010.
Banks have been reforming pay and bonus structures after the global credit crunch and subsequent economic crisis.
They were accused of paying too much to staff who took too many short-term risks; Kazinform cites BBC News.
See www.bbc.co.uk for full version