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July 18, 2014

The Real Wolves of Wall Street (Infographic)

Wall Street has always had a notorious reputation and the movie "The Wolf of Wall Street" (which is an awful movie regardless what the box office says) certainly epitomized the excess and corruption within the security industry.  This infographic below offers some statistics to confirm what we have long suspected:
Greed is indeed good if you work on Wall Street. 
Top 5 earners, 2013 (ALL Hedge fund managers…includes percentage fees)

• $1.5 billion, James Simons, Renaissance Technologies

• $1.2 billion, Stephen Cohen, SAC Capital

• $1.2 billion, Kenneth Griffin, Citadel Investment Group

• $1.1 billion, T. Boone Pickens, B.P. Capital

• $950 million, George Soros, Soros Fund Management

The average pay of Wall Street employees, including salary and bonuses, was $360,700 in 2012 (latest statistics). Still, that’s more than 5X the average worker pay in the U.S. ($34,645 = average U.S. worker salary)

Wall Street firms handed out $26.7 billion in bonuses to their 165,200 employees last year, up 15 percent over the previous year. $164,530: average Wall Street bonus, the most since the 2008.

Looking back:

$29,809: 1985 Wall Street average bonus

$62,385: 1995 average bonus

$176,104: 2005 average bonus

$121,890: 2012 average bonus

The bonuses rose even as profits from broker-dealer operations of New York Stock Exchange member firms fell 30 percent to $16.7 billion in 2013.

Investment Bank Average total base pay (+bonus):

Summer interns/associate: $71,300 (+$9,400)
First year analyst: $85,300 (+$28,700)
Third year analyst: $111,400 (+$51,600)
First year associate: $120,000 (+$39,900)
Third year associate: $149,000 ($60,700)
Vice President: $255,700 (+$116,800)
Managing Director: $273,400 (+$135,600)

Hedge Funds 
Average total base pay (+bonus)

Summer interns: $58,000 (+$3,100)
First year analyst: $67,000 (+$21,000)
Senior analyst: $82,100 (+$21,100)
First year associate: $71,500 (+$33,000)
Senior associate: $99,200 ($36,200)
Vice President: $140,000 (+$100,700)
Principal: $145,600 (+$157,500)

CEO who “doesn’t get it”:

McDonald’s C.E.O., Don Thompson received $14 million in compensation — including an $8.5 million bonus —in 2012, while his company published a brochure for its work force on how to survive on their low wages.

Wall Street Wolves 
Source: Masters-in-Accounting.org

The views and opinions expressed herein are the author's own, and do not necessarily reflect those of EconMatters

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