The Real Wall Street Wolves
Top 5 earners, 2013 (ALL Hedge fund managers…includes percentage fees)
• $1.5 billion, James Simons, Renaissance Technologies
• $1.2 billion, Stephen Cohen, SAC Capital
• $1.2 billion, Kenneth Griffin, Citadel Investment Group
• $1.1 billion, T. Boone Pickens, B.P. Capital
• $950 million, George Soros, Soros Fund Management
The average pay of Wall Street employees, including salary and bonuses, was $360,700 in 2012 (latest statistics).
Still, that’s more than 5X the average worker pay in the U.S.
$34,645: average U.S. worker salary
3%: average pay raise in 2014 for average U.S. worker (third year in a row at 3%)
Inside the Numbers:
Wall Street firms handed out $26.7 billion in bonuses to their 165,200 employees last year, up 15 percent over the previous year.
$164,530: average Wall Street bonus, the most since the 2008.
2013 bonuses were the 3rd highest on record.
15: percentage rise in 2013 bonuses over 2012
Looking back:
$29,809: 1985 Wall Street average bonus
$62,385: 1995 average bonus
$176,104: 2005 average bonus
$121,890: 2012 average bonus
The bonuses rose even as profits from broker-dealer operations of New York Stock Exchange member firms fell 30 percent to $16.7 billion in 2013.
The stock market has risen 30 percent for the year (through Dec. 24), representing a gain in paper wealth of $5.2 trillion. That’s produced 56 all-time highs, second only to 1995, which had 91
The Nation’s Big Six banks –
• JPMorgan Chase
• Citigroup
• Bank of America
• Wells Fargo
• Goldman Sachs
• Morgan Stanley
… are all very profitable.
Investment Banking:
Average total base pay (+bonus)
Summer interns/associate: $71,300 (+$9,400)
First year analyst: $85,300 (+$28,700)
Third year analyst: $111,400 (+$51,600)
First year associate: $120,000 (+$39,900)
Third year associate: $149,000 ($60,700)
Vice President: $255,700 (+$116,800)
Managing Director: $273,400 (+$135,600)
Hedge Funds:
Average total base pay (+bonus)
Summer interns: $58,000 (+$3,100)
First year analyst: $67,000 (+$21,000)
Senior analyst: $82,100 (+$21,100)
First year associate: $71,500 (+$33,000)
Senior associate: $99,200 ($36,200)
Vice President: $140,000 (+$100,700)
Principal: $145,600 (+$157,500)
Private Equity/Venture Capital
Average total base pay (+bonus)
Summer interns: $37,800 (+$800)*
First year
analyst: $68,200 (+$48,100)
*
associate: $86,500 (+$67,000)
*
Senior associate: $116,700 ($80,200)
*
Vice President: $150,400 (+$121,300)
*
Principal: $225,000 (+$135,000)*
7 Movies About Wall Street
• Wall Street (1987)
• Glengarry Glen Ross (1992)
• Enron: The Smartest Guys in the Room (2005)
• Bonfire of the Vanities (1990)
• The Quants (2010)
• Arbitrage (2012)
• The Wolf of Wall Street (2013)
CEO who “doesn’t get it”: McDonald’s C.E.O., Don Thompson received $14 million in compensation — including an $8.5 million bonus —in 2012, while his company published a brochure for its work force on how to survive on their low wages.
Sources:
http://www.washingtonpost.com/blogs/post-partisan/wp/2013/12/26/2013-by-the-numbers/
http://www.wallstreetoasis.com/2013-wso-compensation-report
http://www.bloomberg.com/news/2014-03-12/wall-street-bonuses-grew-15-in-new-york-dinapoli-says.html
http://dealbook.nytimes.com/2014/03/12/wall-street-bonuses-go-up-as-the-number-of-jobs-goes-down/
http://www.onwallstreet.com/gallery/ows/wall-street-salaries-bonuses-1985-2012-2684077-1.html
http://www.forbes.com/2007/05/03/wall-top-earners-lead-07ceo-cx_mo_0503wallstearners_slide_6.html
http://money.cnn.com/2013/04/15/news/economy/ceo-pay-worker/
https://www.shrm.org/hrdisciplines/compensation/articles/pages/2014-salary-increases-flat.aspx?homepage=mpc?homepage=mpc
http://www.businessinsider.com/13-awesome-wall-street-movies-2013-1?op=1
http://www.nytimes.com/2014/01/19/opinion/sunday/for-the-love-of-money.html?_r=2
