Wall Street Cashed in $26.7 Billion In Bonuses Last Year = Enough to Feed Every Hungry American!
April 6, 2014
The average 2013 cash bonus on Wall Street jumped 15 percent and was the third largest on record
Even more! The estimate is not an exact view of 2013 bonuses because it reflects cash bonuses and deferred pay from which taxes have been withheld. The estimate does not include stock options or other forms of deferred compensation. Bonuses paid to employees outside New York City are not included in the estimate.
The average salary in the securities industry, not including bonuses, was $360,700 in 2012, the latest year for which data is available. (Might be higher in 2013!)
That was more than five times higher than the average $69,200 salary for other private sector jobs, the report said.
The $26.7 billion in bonuses Wall Street banks handed out in 2013 would be enough to more than double the pay for all 1,085,000 full-time U.S. minimum wage workers.