Most people face negative consequences when they’ve made huge mistakes, deeply damaged their clients, and proven themselves a greater threat to civilization than rogue asteroids. Then again, most people don't work on Wall Street.
When adjusted for inflation, wages for investment bankers and securities-industry employees, including salary and bonuses, increased 117 percent from 1990 through 2014, according to U.S. Bureau of Labor Statistics data. Over the same period, wages for all other industries rose 21 percent, to $51,029 in 2014, about one-fifth of the $264,357 that bankers and brokers earned that year.
The wealthy banker was already a trope decades ago, but back then the money men only pulled down about three times the income of people in other industries. Despite much whining on Wall Street, that ratio is now greater than 5:1. And do note that we’re talking all workers in these industries. The averages for bankers and brokers are pulled up mostly because the values at the top of the chart are unbelievably high. That gap between bank pay and other industries has increased since the 2008 crash. It’s continued to increase following the 2011 Occupy movement.
But now Wall Street has a sad. Wages are still climbing, but for the first time in a long time average bonuses are down.
Wall Street’s average bonus fell to $146,200 in 2015, a 9 percent drop from the previous year.
The average worker at Goldman Sachs pocketed a mere $344,511 bonus in 2015.
You can start planning your charity fundraiser now.