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Many Wall Street bankers and brokers will have a little less holiday cheer this year, although don't throw them a pity party just yet. Year-end bonuses on average will be roughly flat for all of Wall Street, although there will be some wide variations depending on types of jobs, according to research released Monday by consulting firm Johnson Associates.
Traders in equities and fixed income could see their bonuses drop by up to 10 percent, while investment banking and private equity will see bonuses averaging up to 15 percent higher than last year, the study says. That’s compared to the average 2.9 percent pay raise consulting firm Towers Watson says American workers can expect this year, which is barely above inflation. The average Wall Street salary, including bonuses, has been nearly $360,000 for the past three years, according to the New York State Comptroller’s Office, which notes this is more than five times what most people make in New York City. Last year, the average Wall Street bonus was $164,530.
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-- Martha C. White