Wall Street pays itself a record $144 billion

for doing what, exactly?


Wall Street set to pay out record $144 billion
Eric Thayer/ Reuters

Wall Street pay is on pace to break a record high for a second consecutive year, according to a report in Tuesday’s Wall Street Journal.

Some three dozen top banks and securities firms will pay $144 billion in salary and benefits this year, the paper said. That’s a 4 percent increase from the $139 billion paid out in 2009, according to a survey conducted by the Journal. Compensation is expected to rise at 26 of the 35 firms surveyed, including banks, investment banks, hedge funds, money-management firms and securities exchanges.

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