Wall Street set to pay out record $144 billion

http://www.msnbc.msn.com/id/39631043/ns/business-us_business/

msnbc.com news services
updated 1 hour 25 minutes ago 2010-10-12T19:02:28

Wall Street pay is on pace to break a record high for a second consecutive year, according to a report in Tuesday’s Wall Street Journal.

Some three dozen top banks and securities firms will pay $144 billion in salary and benefits this year, the paper said. That’s a 4 percent increase from the $139 billion paid out in 2009, according to a survey conducted by the Journal. Compensation is expected to rise at 26 of the 35 firms surveyed, including banks, investment banks, hedge funds, money-management firms and securities exchanges.

The report shows revenue is expected to rise at 29 of the firms, but at a slower pace than pay.


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