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Wall Street 2010 cash bonuses fall

Wall Street paid an average cash bonus of $128,530 in 2010, down 9 percent from the previous year.

Wall Street paid an average cash bonus of $128,530 in 2010, down 9 percent from the previous year, as financial reforms prompted a shift toward more deferred compensation and higher base salaries, New York’s state comptroller said in a yearly report yesterday.

Despite calls for restraint by federal regulators and politicians, overall compensation, which includes stock awards, grew by 6 percent in 2010, according to the report. In the first half of 2010, wages leaped 21.9 percent, partly due to cash bonuses that were awarded in 2009 but paid the following year.

 
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