Wall Street traders, usually among the best-paid employees in the industry, may see drastic cuts in their take-home pay, Bloomberg News said.
Revenue in trading divisions has fallen by an average of 12% so far this year. Goldman Sachs (GS), which makes most of its money from trading, saw average compensation drop 26% in the first nine months of this year.
New regulations and public scrutiny mean…
Continue reading Wall Street Traders May See Smaller Bonuses This Year
Wall Street Traders May See Smaller Bonuses This Year originally appeared on DailyFinance on Thu, 04 Nov 2010 08:13:00.
Filed Under: Company News, People, Goldman Sachs , Credit, Market News