Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Wall $t. bonuses balloon to new record
New record set of $21.5B in 2005, beating previous record of $19.5B set in 2000.

NEW YORK (CNNMoney.com) - Wall Street bonuses set a new record of $21.5 billion in 2005, surpassing the previous record of $19.5 billion set in 2000 during the peak of the last bull market, according to a report released Wednesday by New York State Comptroller Alan G. Hevesi.

Bonuses paid by Wall Street firms grew 15.5 percent to $21.5 billion, compared with $18.6 billion in 2004.

That translates into average bonuses of $125,500 -- also a new record. Bonuses averaged an estimated $114,300 in 2004.

According to the report, many bonuses are tied to industry revenues, which were exceptionally strong in 2005.

"The securities industry had a very good year during 2005. The industry paid record bonuses based on exceptional revenue growth and solid profits," Hevesi said.

A report in "New York Magazine," meanwhile, estimates that the total bonus pool at Goldman Sachs (Research) may have reached as high as $11 billion in 2005.

"New York" estimates that bonuses may have ranged from $2 million to $40 million for the firm's partners; between $15 million and $20 million for the firm's top-performing traders; from $1.75 million to $3 million for non-partner managing directors; around $95,000 for newly minted MBAs; and up to $18,750 for the firm's top secretaries.


Meanwhile, personal bankruptcies also hit a record high, click here for more.

For our annual ranking of the best companies to work for, click hereTop of page

Follow the news that matters to you. Create your own alert to be notified on topics you're interested in.

Or, visit Popular Alerts for suggestions.
Manage alerts | What is this?