bonuses

With unemployment still high, late mortgage payments rising, and the number of Americans in poverty at record levels, it seems that Main Street is headed for a hard, cold holiday season. But, somewhat surprisingly, so too are the fat cats of Wall Street -- relatively speaking.

To wrap your head around how much someone like Larry Ellison makes, try comparing his compensation to the median income of an American household -- $49,777. His 2008 take of $543 million is the equivalent of the annual earnings of 10,908 average American families. Got that?

Recession-weary workers may finally get some encouraging news: Private-sector annual wages will improve in the coming months, albeit modestly, according to data compiled by BNA, publisher of Daily Labor Report.

Though most Americans wish that Congress would rein in excessive pay on Wall Street, that won't happen while the huge campaign contributions keep flowing. And the financial industry's big money shell game drains away something more precious from our society than money -- it siphons off talent.

Wall Street banks are considering changing the timing of their annual bonuses in a bid to avoid possible tax increases. Lawmakers in Washington are currently discussing whether to renew the Bush-era tax cuts on the wealthiest Americans, a bracket that includes many on Wall Street. If the tax cuts...

Goldman Sachs Group (GS) promoted a record number of employees to the position of managing director, giving them more money and prestige as the bank rebounds from the financial crisis. The bank raised 321 people to the status of MD, up from 272 last year, Bloomberg News reported. Earlier this...

As Bank of America continues to cope with fallout from the housing and mortgage crisis, the financial institution may have to pay some year-end employee bonuses in the form of stock because of a possible cash shortfall related to its buy-back of stock from the federal government.

Wall Street traders, usually among the best-paid employees in the industry, may see drastic cuts in their take-home pay, Bloomberg News said. Revenue in trading divisions has fallen by an average of 12% so far this year. Goldman Sachs (GS), which makes most of its money from trading, saw average...

Pay on Wall Street is on pace to break a record high for a second consecutive year, growing an average of 4% in 2010 at the 35 top financial institutions and rising faster than revenues.

Wal-Mart Stores, the world's largest retailer, is ending its 39-year-old policy of automatic profit sharing for employees. It's replacing the bonuses with retirement benefits which could increase employees' total compensation, but employees are only eligible if they pay into their plans.