10.27.2008

Let's hear it for the talent, boys and girls


Alan Johnson, a leading compensation consultant....predicts the average managing director at an investment bank, a title typically earned around eight years on the job, will receive a bonus of $625,000. That's down from nearly $1.1 million last year, but it is still 15 times the income of the average American household. Top bankers could receive as much as $1 million. Even a bond trader just out of business school could see his or her bank account enriched by as much as $170,000 this Christmas. "The firms have had an extremely difficult year," says Joan Zimmerman, a Wall Street career coach. "But they can't afford to lose talent either."

[From How Washington's Bailout Will Boost Wall Street Bonuses - TIME ]


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