Arab Today, arab today wall st executives bonuses to fall 30
Last Updated : GMT 18:13:02
Arab Today, arab today
Arab Today, arab today

Wall St. executives bonuses to fall 30%

Arab Today, arab today

Arab Today, arab today Wall St. executives bonuses to fall 30%

Washington - AFP

Wall Street\'s banking and broking elite, under attack in the US for excessive pay, will see their end-of-year bonuses cut by up to 30 percent this year, according to a report released Tuesday. Bonuses, which often top more than $1 million for senior executives, will remain 25-35 percent below their peaks in 2007, when the country began to sink into financial crisis, according to the study by Johnson Associates. \"Lack of economic recovery, varying impact of regulation both globally and regionally, business mix, and ongoing uncertainty in world markets are key 2011 incentive drivers,\" the Johnson study said. Johnson said senior management of the industry\'s banks and fund managers would see their incentive pay fall by up to 30 percent from last year. The cut for staffers would be up to 20 percent. But not all will be hit, those in the headline-grabbing underwriting and mergers and acquisitions sectors will see bonuses jump by 5-10 percent. Banks would be paying out a higher percentage of their income for bonuses, Johnson said, but that would be offset by declining profits this year. Many have already announced layoffs, and Johnson says more layoffs could be ahead. Bonuses are key to pay packages for many Wall Street executives. Last year, for instance, JPMorgan Chase chief executive James Dimon had a base salary of juse $1 million, but a cash bonus of $5 million and stocks and options grants that took total pay to more than $20 million, according to compensation specialists Equilar. The Johnson study said that compensation models on Wall Street have been changing since the financial crisis, due in part to tougher regulations. The crisis has been blamed in part on bankers\' excessive risk-taking that was partly driven by the promise of bonuses many times their regular salaries. The government has pressed banks to reduce the amount of bonuses paid up front, and instead to defer more over a longer period of time, to ensure that they were not earned on the back of actions that damaged the firm\'s longer-term performance. In October a Federal Reserve study of 25 large banks showed that senior executives now have on average 60 percent of their incentive pay deferred, and for the top executives, 80 percent. The Fed said that many firms are also paying more attention to the links between incentive pay and risk-taking by staff below the executive level \"Deferring payout of a portion of incentive compensation awards can help promote prudent incentives if done in a way that takes into account risk taking, especially bad outcome,\" the Fed report said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today wall st executives bonuses to fall 30 Arab Today, arab today wall st executives bonuses to fall 30

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today wall st executives bonuses to fall 30 Arab Today, arab today wall st executives bonuses to fall 30

 



Arab Today, arab today Designer prepared new set of ornaments

GMT 02:45 2017 Wednesday ,28 June

Designer prepared new set of ornaments
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today

GMT 08:23 2017 Saturday ,24 June

Actress Feryal Yussef received new drama offers

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday