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Bankers Expect Rising Bonus Pay to Break Records in Global Poll
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“If we were looking for a sense of Wall Street to be, ‘we’re hit hard, I’m going to make less money,’ these results don’t show it,” said J. Ann Selzer, president of Selzer & Co., the Des Moines, Iowa-based public-opinion research firm that conducted the survey.
The findings “give some fuel to the people who claim that Wall Street hasn’t really gotten it,” said Mark Borges, a compensation consultant at Compensia Inc. in Corte Madera, California. “There really hasn’t been a dramatic cultural shift in these organizations.”
The survey responses are at odds with populist outrage unleashed when American International Group Inc. earlier this year paid bonuses to the financial products unit responsible for the derivatives trades that fueled $100 billion in 2008 losses and led to a $182 billion taxpayer bailout. In an ABC News/Washington Post survey earlier this month, 71 percent backed the Obama administration’s plans to order deep cuts in executive pay at bailed-out companies.
Full article: [link to www.bloomberg.com]
Of particular note: this was a global poll of banksters.
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