12 Oct, 2010, 02.54PM IST,PTI
US Fin inst to pay $144 bn in compensation, benefits in 2010
NEW DELHI: About three dozen of the top US financial institutions are set to pay a record USD 144-billion in compensation and benefits this year, a 4 per cent increase from last year.
According to an analysis by The Wall Street Journal, the 35 securities and investment-services firms which include banks, investment banks, hedge funds, money-management firms and securities exchanges, are expected to pay USD 144 billion in compensation and benefits this year, compared with USD 139 billion paid out in 2009.
Compensation was expected to rise at 26 of the 35 firms, while revenue may rise at 29 of the 35 firms surveyed, but at a slower pace than pay, according to the Journal.