Tuesday, November 08, 2005

Wall Street Bonuses

In the Wall Street Journal they had a piece about upcoming bonuses.
Some of these (okay all of them) bonuses are incredible!

Here are the ones they listed (based on the averages from top-tier banks)
Global Head of Commodities Trading: $6-8 Million
Head of Swaps Trading: $3.3-4 Million
Investment banking, managing director: $2.2-3.3 Million
Global head of emerging markets debt trading: $2 million
Head of IT, Asia: $1.2 Million
Municipal derivatives trader w/ 3 years of experience: $170,000-215,000
Investment banking, first year associate: $105,000-125,000

Can you believe some of these numbers?
Of course there was no mention of the bonus figure for the people straight out of college who's on the bottom step of the ladder. I would be happy with 10% of what the investment bankers get!
I'm still amazed about how much money some of these people make for one year of working. Plus it makes you wonder how much the top guy is keeping for himself. It pays to be the top guy.

Other news: I might be getting $30 from selling a concert ticket and I should get a reimbursement check for about $240 for transportation. I'll keep chipping away at my year end goal, and hopefully I can hit it. In terms of monetary goals I have accomplished each goal set (and some were hard), but this year end one might be a stretch.

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