According to a new report, average bonus compensation for Wall Street workers will decline by 20-30% this year. Banks are trying to cut costs and laying off workers, which is leading to th decline in bonuses. The majority of compensation for traders, bankers and executives comes in bonus form. The decline comes after two years of increases in bonuses for workers.
See "Wall Street workers' pay to fall 20-30 percent", Lauren Tara LaCapra, Reuters, November 7, 2011