Bankers on Wall Street will receive nearly 85 billion dollars of premium

The four biggest banks on Wall Street will spend 84.4 billion dollars in bonuses to its employees by the end of 2010, reports Bloomberg. On average, each of nearly 600 thousand employees of financial firms in New York will have to 141.1 thousand dollars in this year's premium is lower than in the past. So, Morgan Stanley has reserved an amount sufficient to pay 364.6 thousand dollars as a bonus to all its employees, which is 2,6% less than last year. At Goldman Sachs reduction was 14%, however for each employee on average will have 430.7 thousand dollars in Morgan Stanley does and decided to postpone the 60% bonus until next year, while the fund salaries and bonuses for the year to 16 billion, which represents 51% of net profits of the bank. As reported on condition of anonymity, a source of Bloomberg, Citigroup had already paid the $ 50 million in shares in 1915 to its topam. All in all, one employee of the bank will have no more than 94 thousand dollars of premium. European banks have not yet announced the size of awards, but it is expected that they will do it in February. At the same time, projected Armstrong International, bonuses in large investment banks of the Old World up to 2010 could be cut by 20-30%. This year, European banks are reluctant to make dramatic statements about how the love of their employees. Such behavior is understandable, since more than a year they are under continuous pressure from U.S. and European regulators, who say bankers fat cats and cause them to cut premiums. Most recently, Commissioner for Internal Market and EU Michel Barnier said that banks should, in their actions to be responsible and moderate. Most affected staff middle management: their premium can be reduced by half. With the largest reduction of compensation may be faced bankers in the UK. Source: RBC Daily