The bonus money is going to blow your mind.

Do you have REAL knowledge of REAL numbers (REALLY)? If not, then you fall into the category of people to whom we should not listen.

Excellent grammar MidtownEast. Good job!

aifamm, when people compare the 2009 total comp vs. 2010 total comp, the y-o-y percentage drop might be in the single digits, which doesn't sound so bad. However, because more of the comp is deferred, the effective y-o-y percentage drop is really double digit (see my comment/example above). A larger pool of people also have their bonus deferred for the first time as well. For those people, because of no vesting from previous years, their y-o-y drop is even greater.

I cannot stress enough how not one single person I know sounded happy or even ok with their bonus. In previous bad years, the top performers I know were at least ok with their numbers. This year, even they were unhappy.

Burg, Hunter S. -- I guess you don't understand parody. How do you spell homogeneous again?

@ aifamm "How many ppl who have REAL knowledge of REAL numbers are commenting here?"

People can only comment about their immediate area. In my department, y-o-y total comp is down double digits. We got hosed.

"That is very good news for NY real estate, because..... *crickets chirping*"

People outside of finance will be able to afford more reasonable housing?

Real estate will be less susceptible to swings in valuation from a single industry?

"What if a handful of them take less, but rest of ppl still do better? Just sayin'... this doesn't mean squat. "

If a handful take $10 mil instead of $15 million, how much of a dent you really think you're going to make when a huge chunk of people way below them make over a million?

Lets also not forget that the top folks made relatively little last year due to legislation... meaning its the middle/bottom that probably suffer here.

"suffer", ha.

Maybe I know the wrong bankers but I don't know anyone whose total comp declined less than 15%. I'd say avg was 20% decline. One guy at MS was down 30%.

And that seems to gel with the overall numbers...

"On Street, Pay Vaults to Record Altitude "

"When it comes to paychecks, Wall Street's law of gravity is back in full force: What goes down must come back up.

In 2010, total compensation and benefits at publicly traded Wall Street banks and securities firms hit a record of $135 billion, according to an analysis by The Wall Street Journal. The total is up 5.7% from $128 billion in combined compensation and benefits by the same companies in 2009."

""Things are shifting back to where they were before," said J. Robert Brown, a law professor at the University of Denver who studies compensation and corporate-governance issues."

http://online.wsj.com/article/SB10001424052748704124504576118421859347048.html?mod=WSJ_hp_LEFTWhatsNewsCollection

Brokers rejoice.

I have no idea how to make the last few posts all make sense together.

Brokers rejoice.

hahahahahah...as much as id like to see fat paychecks come back, they arent..at least not this year.

The WSJ analysis is worthy of a journalist.

"The Journal's analysis includes 25 publicly traded firms with a stock-market value of at least $1 billion each."

You then click on the "Interactive Graphics" tab and read the "Methodology" section. Problem #1, they don't include Lehman or Bear in their analysis. Or WaMu or Wachovia or whatever else. So when these firms go bye-bye, no drop in comp shows up. Problem #2, they don't include comp from Merrill pre-merger with the BoA results and that sort of thing (happened with BGI and Blackrock too).

So yeah, if you look at the securities firms category, you see something like $45.6 billion in 2007 vs. $42.1 billion in 2010. However, this has left out the fact that Merrill/Lehman/Bear also paid $29 billion in 2007 and $0 in 2010 (http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aHPBhz66H9eo). So it actually went from $75 billion to $42 billion. Maybe some of it got paid out by the commercial bank acquirers, but you get the picture. The commercial banks added just $12 billion in total comp, but took out Merrill/Lehman/Bear plus WaMu/Wachovia/Countrywide/etc.

and therez inonada... schoolingz the foolz. FLMAOz..... yeah go NYC RE! GO GO GO!

So, the point is that Wall Street comp is ONLY $42 billion? WHo is complaining, the benefits recipients of the City of New York.

"You then click on the "Interactive Graphics" tab and read the "Methodology" section. Problem #1, they don't include Lehman or Bear in their analysis. Or WaMu or Wachovia or whatever else. So when these firms go bye-bye, no drop in comp shows up. Problem #2, they don't include comp from Merrill pre-merger with the BoA results and that sort of thing (happened with BGI and Blackrock too)."

Wow, that's pretty funny....

Great catch, inonada.

That's pretty embarrassing for the journal. Someone please let them know - I would LOVE to see the retraction / reprint.

Once again Ericho is off by $30billion in ws compensation. By his math, he's got $30mm in equity on his PH lic condo. It'll only get bigger as the projects hem him in. Check mate motherfker.

ericho and steveF need to sick to shakin them pompoms and stompin them fringy boots

this cut/paste crap always blows up

"That's pretty embarrassing for the journal. Someone please let them know - I would LOVE to see the retraction / reprint."

It's not as if they didn't know about at least problem #2. They pretty clearly state "Note: Figures don't reflect results of acquired companies before they were purchased. For example, ...." Either they don't have brains that are able to analyze what this means, or they have a pre-set narrative that they are interested in telling irrespective of the facts. If my time on SE has taught me anything about people, it is usually a combination of the two feeding off each other.

For heaven's sake, GS's average comp per employee was $660K in 2007 and $430K in 2010. They have been the biggest success story in terms of navigating this crisis financially of any bank (with the exeption of JPM, perhaps), despite their political missteps and failings in the hearts and minds of the American people. I'm not saying the amount is right/wrong/otherwise. Just that it takes a special stupid to not scratch the surface of data that so obviously fails the sniff test.

> It's not as if they didn't know about at least problem #2

Yeah, they knew that they were shilling.

US bank bonus 2010 fact box:

http://www.reuters.com/article/2011/02/04/us-banks-bonuses-factbox-idUSTRE7134O220110204

never too early to drag this one out

You mean this one:

http://www.cnbc.com/id/44088582

or this one:

http://www.cnbc.com/id/44074455/

SPUNKY! WHERE ARE YOU SPUNKY!?

Something tells me IB bonuses will be down significantly this year. Call me crazy.

You're crazy. QE3 is around the corner. Bonuses will be through the roof. Or something.

who is "spunky?"

Wrong question. Right question, "Who was spunky?"

steveF, who gobbled up a dozen studios at the height of the boom and is now going bankrupt, not to mention the Merrill Lynch and Lehman Brothers stock he was buying till the very end.

RIP, spunkster.

My buddies who are in banking are expecting 20-30% down from last year.

ah. well, that does not sound good to me.

i think maybe we're gonna bust through $1800/ounce on gold....

What ever happened to Petrfitz? He who bought his house in Vegas in 2008 at the "bottom of the market"?

Hahhhaaaaaa yo bitch. Now what? Did I stutter? Did I waver? Did I flinch.

My cash get 5% stronger ever fking day. And unlike you overleverged fully in ninnies, I can choose my spots.

Still way to early to put my hard earned cash into equities or re. But it's coming. Never waver, god of cash flow is on my side.

I have had 4 lunches or dinners with banker friends in the last week. All say that expectations for 2011 comp are way down given poor second quarter performance by basically every firm and weak new business pipeline. The equity market turmoil of the last week is just the (sour) cherry on top of the ice cream sundae of woe

IPO's cancelled left and right. Of course lots of IPO's is a Top Sign of a Bubble.

Anyone ever heard of LinkedIn?

"IPO's cancelled left and right. Of course lots of IPO's is a Top Sign of a Bubble.

Anyone ever heard of LinkedIn?"

IPO's is? That ain't English. But here's a little perspective for you about this "bubble" talk. Be well, Esteban:

http://5.mshcdn.com/wp-content/uploads/2011/07/big-boom.jpg

Ah, to have bjw grayed out...

One more pleasure of life!

Certainly, you're not reading it. I'm not sure who you're fooling.

matsonjonezzzz.... go long, double down.. lever up, double gamma delta. Man you sound like my friend who owns a chinese restaurant but day trades in the back office.

I don't know how to describe him to my wife? Is he a restuaranteur that day trades? or a gambler who is forced to own a restaurant to fill the hole he digs himself every day?

Esteban, a little more bubble reading for you to "ignore":

http://www.avc.com/a_vc/2011/01/the-second-coming-of-the-internet-ipo.html
http://battellemedia.com/archives/2011/01/no_in_fact_we_havent_seen_this_movie_before

w67: i did go long and then i did double down. man
you sound like someone to me who's mostly in cash and frozen.

you can describe ME to your wife as someone who bought gold about three years ago at $800, and then doubled down and basically went all in around valentine's day this year. my panic 'dump all' price is now $1600/$1625 so worse case scenario if gold free falls 10% overnight only i double my money in three years.

flmaozzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz all the way to the bank

"Zero Bonuses At Goldman?"

"In what is certainly a clear sign of the apocalypse, at least for Wall Streeters, there is now speculation that the holiest of holys, none other than Golman Sachs, may be planning to no bonuses this year following a third quarter which now everyone expects will be the worst for the company in recent history (which is to be expected with the firm's prop trading operation several crippled, although still marginally operational in various other guises)."

http://www.zerohedge.com/news/zero-bonuses-goldman

not just at Goldman

erichoooooooooooooooooooooooo

How much will almost zero get you in 2012?

where's spunky?

"The job cuts, on top of the 2,000 positions the bank said in July it would slash, will mainly occur in investment banking in the United States and London but will also affect wealth management, the Tages-Anzeiger daily said…The bank looks set to report a big fall in third-quarter underlying earnings on Tuesday as its investment bank suffers from the same sluggish business seen by other banks amid sovereign debt and economic woes. Without citing its sources, the newspaper also said Credit Suisse would seek to cut its risk weighted assets by about 100 billion francs or almost a half, in particular by slashing the capital-consuming fixed income business."

http://dealbreaker.com/2011/10/layoffs-watch-11-credit-suisse-5/#more-57201

I barely even remember the NYC that existed before Wall Street took over most of it.

where is old ericho

ericho? That guy made such a killing on Long Island City real estate that he doesn't stoop to hang out on SE anymore.

That was sarcasm, by the way. People sometime miss it online, so I thought I'd get out ahead of the issue

Big year for MF Global though.

That's sarcasm too.

So nice to see somewhereelse trolled out.

they have "trolled out" the best posters on streeteasy. now it can become the platform that was intended, a bunch of misinformation so the ignorant can get picked off like pigeons. "free the unicorns!" or else i am going to start an occupy streeteasy movement.

I heard that falcogold1, Socialist, and NYCMatt put in a request to be grey, and Brooks2 is considering only posting under the main original greyed out name instead of as the "new" Brooks2.

rangersfan, not that my opinion matters much on this, but they've only trolled out a couple "good" posters - alan, ar, and now swe. The rest (as far as I remember) I get. What's troubling about this latest one is that steve bragged about having swing with the folks at SE and making this happen, and apparently he wasn't lying. That's kind of disappointing and makes me question what's going on behind the scenes here. There's been absolutely no transparency about these decisions recently. And in these few cases it's a real loss to the site - and this is coming from someone who's had more than a few disagreements with the poster in question. Very lame.

Bjw, the ideal color for your postings is white or clear. You are so meek and irrelevant to everyone here that any other color that would mean your posts are readable, is a disservice to any SE participant.

lame indeed. have to say, i would add to that list that you suggest. and what indeed is going on behind the scenes???

i am getting my placards ready "OCCUPY STREETEASY". I am now speaking for the 1% (trolls). running to samsash to get some bongos.

What's going on behind the scenes, bjw, was swe's post, "Dance Monkey." He had been warned against making posts like that.

And in fairness to this website, several weeks ago they asked me - among others - to tone down the rhetoric under penalty of Trolldom. I agreed, as did others, and I kept my word.

SWE did not.

There is nothing behind the scenes beyond that. There are trolled people whom I don't think should be trolled, but those decisions are not mine. I knew that swe had been warned, and when I complained about that post, after he had been warned, it was over.

It is SWE's own fault, nobody else's.

steve, thats pretty weak for someone living in the heart of nyc. "Dance Monkey"??? Is that the best you can come up with? Great commentary on the dumbing down of these boards...effin hilarious.

I don't make the rules, rFan. I was treated exactly the same way as everyone else, and as somewhereelse. Just, I kept my word.

They want to keep a degree of civility here - we have to respect that. It is their site, not mine.

steve, I didn't know SE sent out a warning before greying people out - don't think anyone's mentioned that before, but if that's true, then I agree to a certain extent. If you're warned, it's really not that hard to figure out what's over the line and what isn't anymore. That said, "dance monkey" is about as harmless/inoffensive as it gets. Doubt that's what crossed the line by itself - maybe more the repetition of it? Still, kind of lame.

Yes, a warning was sent out, and swe got one.

solidarity

Another one bites the dust.

Just got back from samash, got my bongos. getting out my headband and now looking to find the home addresses of the putzes that run streeteasy. Occupy streeteasy, I say! Free the unicorns!! Unlock the intellectual ties that bound!! viva che, viva ah, viva ar, viva w67th!!

and pox on the rest of them who now roam these barren boards. (all choegraphed with a steady beat on my new bongos)!

swe was arrogant - I reminded him on several occasions that he was under the steady eye of the troll-patrol, but he just kept on going, and going, and going....

"I didn't know SE sent out a warning before greying people out"

they don't. they just grey. if you want you can bother m and if you're really sincere and annoying he'll tell you you have to be good for a while and he'll reinstate you to respectability. but it's easier to just MAKE UP ANOTHER HANDLE. idk wtf all the persona non grata are doing with theselves now. surely they've turned to drugs or prostitution or maybe even a life of petty crime.

"swe's post, "Dance Monkey.""

wait, what?

"they don't."

They do.

Yes, you can always make up another name ... and it can always go gray again if you don't behave.

oh yes, hold your breath -----"Dance Monkey"!!!! Now, there is real cause for alarm there. whats next? with all the broker babble that was exposed by the "trolls", noone is safe.

"OCCUPY STREETEASY, OCCUPY STREETEASY!!!!! FREE THE ONE PERCENTERS I SAY!!!! LONG LIVE SIDECARS, PCV HOUSING, REPOSESSED YAUGHTS AND $500 psf nyc prime housing! OCCUPY STREETEASY!!!

hey, eff you steve. what r u now, the behavior police? you have been one of the most "offensive" posters on here with your market prognosis of doom all flying in the face of reality. Yet, you continue to post your horse manure on your market gains when anybody with half a brain could figure you out as a complete fraud. Yet, you are going to be the social barometer here? with all the horse crap you post? surely, you jest.....

OCCUPY STEETEASY!!!!!!!

Want to see the real police on SE ... check out kylewest on the tipping thread. Apparently because this perennial topic has been discussed in the past, kylewest on doesn't want a new thread to be allowed to be created.

Sorry, rFan - it wasn't I who set the rules. And it was SWE who was posting his "market gains," not I - I already said that I gained virtually nothing.

Started reading top of thread.
----aifamm Can't keep quiet any longer.
How many ppl who have REAL knowledge of REAL numbers are commenting here? It appears to be very few, if any.

Wrong. I do. I have personal friends that went to MF Global recently on guarantees. This means that their bonuses were guaranteed, by contract. Now they get in line with the rest of the firm creditors to claim their bonuses. Oh, and they have no salary now either.

Shame on any of you that took delight in the miss fortune of others.

Did anyone say anything about Miss Fortune, Brooks?

What drove people to MF Global was in many cases a desire to relive a Wall Street that probably doesn't exist anymore and probably won't for many years if ever in our lifetime. Unfortunately those that recently joined MF bought into a failed idea. They'll have to get behind other creditors and probably won't collect a dime.

That's a cheery thought, Riversider!

occupy streeteasy!!!!!

I'm not sure what Steve is talking about. Never got a warning...

and

2) "dance monkey" was in response to Steve calling me an idiot, and calling bjw "blowjob".

That steve wined and cried about it is pretty funny... and, of course, hypocritical.

"And it was SWE who was posting his "market gains," not I - I already said that I gained virtually nothing."

another lie... there are threads and threads with steve posting about his marketing successes, include the long one where bsexposer called him out on it, and he had no response...

"And it was SWE who was posting his "market gains," not I - I already said that I gained virtually nothing."

How many Steve lies can we catch in one post?

stevejhx
about 12 weeks ago
ignore this person
report abuse

"stock market bottom in 09"

Nope. Went long slightly before the bottom, rode it up to 11.500 on the Dow.

bsex has 3 stocks, and blowjb is still grayed out. Ah! Life is pleasant.

grey is groovy

i'll see you all down at zuccotti park

byobong

"How many Steve lies can we catch in one post?"

agreed don't forget when he implied its time to short gold, 2 years++ back when it was under $1,000 an ounce..

we should create a grey stevejhx petition

Free swe!

occupy streeteasy!!!!

forget zuccotti park, i am setting up shop at the fourseasons midtown. anybody up for group bongo session, meet me in the hotel bar. we can then strategize how we can free the 1% on streeteasy. ironic lesson for the masses.

oh and steve, swe has a good point of your pet name that you have been regularly using for bjw....lets all get a bucket of popcorn as you begin to spin your yarn at that justification. drum, drum, drum....

Haven't used that name for bjw in a long time, rFan. Sorry.

"when he implied its time to short gold"

Nope. Never did.

"Haven't used that name for bjw in a long time, rFan. Sorry."

Not that I really care (reflects on you, not on me), but you (and bottoms) have used it fairly recently and quite often at that. I have noticed you stopped in the past week or two though. Bottoms still does, but he revels in his trolling.

"have used it fairly recently"

Not I, I don't know about others.

As shame, though, that Eddie had to come back - may lead to the closing of the board entirely.

See swe's quote above from you. If 12 weeks is a "long time" then you must be quite the spring chicken!

12 weeks = 3 months. A lifetime in memo board terms.

I haven't used it in a long time, & I won't.

Eddie Wilson, unfortunately, is back.

"Credit desks in Q3: How the biggest banks fared..."

Its basically "They all sucked and are firing people left and right." It goes through all like 20 big banks.

Bullish!!!! Well, where I work actually quite depressing.

http://www.efinancialnews.com/story/2011-11-09/credit-desks-get-caught-in-q3?ref=email_36341

"oh and steve, swe has a good point of your pet name that you have been regularly using for bjw....lets all get a bucket of popcorn as you begin to spin your yarn at that justification. drum, drum, drum...."

ROTFL. Man, this just keeps getting funnier...

I guess there is only one person here who misses the irony of the person who calls folks idiots and sexual acts e-mailing streeteasy every day to get folks banned.

And note that Steve didn't actually apologize for, take back, or even admit error on his transgressions... he just lied about not having said it recently.

Civil conversation just cannot be kept in the presence of some.

steve, its really amazing to see that every retort from you has no hint of ever having any humility. justification, feint, justification. repeat. a pyschotherapist's dream.....you can't have it both ways unless youre about 2 years old or haven't progressed past that mentality.

but thats really not here nor there.

main issue at hand -----"Occupy Streeteasy"!!!!

Are people bringing back old names of theirs? That's not fair because I don't have any.

Stevejhx on September 22, 2008 you said to sell gold. Bad call.

You also said to short the EEV. Excellent call.

I don't even know what the EEV is, so I couldn't possibly have said that.

I never said to sell gold: I did say that Cramer was telling people to buy it so that might be a sell indicator, but I say that about everything that Cramer says.

I did say that gold is a bad investment, and I stick to that: adjusted for inflation, it has not yet returned to its 1970's high. Not to say one couldn't make a trade in it - just not me.

rFan - no clue what you're talking about.

Must have been a different stevejhx.

Maybe it was, but I honestly don't know what EEV is, and my two comments about gold were as I said above. It has virtually no industrial uses, for which reason I see no reason why anybody would want to own it beyond to make themselves feel better. No question you can make money on a trade, but it doesn't pay interest, and it's not a hedge against inflation, and it will never be used for money again.

I just don't get it.