Pay at top Wall Street firms estimated at $145 billion in 2009

Jan. 16, 2010 – WSWS

The Wall Street Journal published an estimate Thursday that total pay at the largest Wall Street firms reached $145 billion last year. The Journal’s figure, based on preliminary figures, is more than any other year in history.

JP Morgan strengthened this prognosis Friday by announcing that it paid its employees $9.3 billion in 2009, 18 percent more than in 2008. The figure sets a new record for the bank, up from $7.9 billion in 2007 and $8.1 billion in 2006.

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