Wall Street bonuses surge amid boom

Dec. 17, 2003 at 4:41 PM
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NEW YORK, Dec. 17 (UPI) -- Wall Street brokerage firms will be paying $11 billion in bonuses this year, the New York State Comptroller said Wednesday.

Comptroller Alan Hevesi estimated 161,000 brokerage employees will each receive an average bonus of $69,000. That's a substantial increase from 2002, when the collective bonus reached $8.6 billion and the average check was $52,400.

The state expects to collect about $805.2 million in tax revenue, up from $588.8 million a year ago.

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