A top banker received a $20 million bonus after four firms made him job offers

[Yo_Mama_Been_Loggin]

as Wall Street goes to extremes to recruit and retain talent

Big money is back on Wall Street, and top banks are opening their wallets in a fierce competition to hire new workers, and keep the ones they have.

Wall Street employment lawyer Steven Eckhaus, who works at McDermott Will & Emery and represents top bankers, told the New York Times that he negotiated several eight-figure salary packages for his clients. And he said that one of his clients received a $20 million signing bonus after a bidding war that lasted four months.

Eckhaus did not immediately return Fortune's request for comment.

The eye-popping number reflects a larger trend of banks spending whatever it takes to keep their employees happy two years into a grueling pandemic. Morgan Stanley reported that its compensation expenses increased by 18% in 2021 compared to the previous year. For Goldman Sachs, that increase was around 23% more per employee. Overall, Wall Street gave the biggest payouts for the 2021 holiday season than they had since 2009.

https://www.msn.com/en-us/money/companies/a-top-banker-received-a-dollar20-million-bonus-after-four-firms-made-him-job-offers-as-wall-street-goes-to-extremes-to-recruit-and-retain-talent/ar-AATETOh

[Ron Green]

1. Substituting money in place of people and healthy communities

will continue to erode the quality of life on earth.