HomeFinanceU.S. Regulators Work to Shrink Wall Street Salaries

U.S. Regulators Work to Shrink Wall Street Salaries


Jan. 24 (Bloomberg) — Workers at big Wall Street banks took modest cuts in pay last year even as financiers continued to outpace other professionals in earnings, a gap that regulators and lawmakers are working to narrow. Goldman Sachs Group Inc., Morgan Stanley, and JPMorgan Chase & Co.’s investment bank spent an average of $330,212 on salaries, bonuses and benefits for each of their 124,556 workers in 2010, according to financial reports released since Jan. 14. Bloomberg’s Jon Erlichman reports. (Source: Bloomberg)

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