You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

That Line at the Ferrari Dealer? It's Bonus Season on Wall Street -NYT [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Latest Breaking News Donate to DU
Rose Siding Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-28-04 11:16 AM
Original message
That Line at the Ferrari Dealer? It's Bonus Season on Wall Street -NYT
Advertisements [?]
...The year-end bonus is a Wall Street tradition, and for a second consecutive year, the amounts are significant. Three major Wall Street firms - Goldman Sachs, Lehman Brothers and Bear Stearns - have reported record profits for the year and all are said to have given out handsome bonuses.
...
This year, investment bankers are expected to see gains in bonuses of 10 to 15 percent, amid a year-end flurry of mergers. Fixed-income traders, who have been the best compensated Wall Street professionals in recent years, will also be amply rewarded, but their percentage gains may be smaller than those of bankers. Bonuses, of course, vary by bank, by division and by individual. They reflect the firm's profitability and the group's performance, as well as the individual's contribution.

This year's bonuses do not quite reach the heights touched by star bankers and traders in the heyday of the late 1990's technology bubble. But they are rich enough to persuade many of Wall Street's elite to rediscover conspicuous consumption.
...
Another senior banker at a different firm, who is set to receive a $2.8 million bonus, said he had bought his wife a mink coat and was planning a weeklong skiing vacation out West. But he also said he intended to save most of the money. "We're not buying homes or boats, we're not spending on the big things," he said. "We are more relaxed and generous on the small things."

http://www.nytimes.com/2004/12/28/business/28bonus.html?hp&ex=1104296400&en=9dbbb1a2157e9ffa&ei=5094&partner=homepage
Printer Friendly | Permalink |  | Top
 

Home » Discuss » Latest Breaking News Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC