Wall Street Banks See A Decrease In 2010 Bonus Payouts (GS, MS, JPM)

Three Wall Street investment banking giants, Goldman Sachs GS, Morgan Stanley MS, and J.P Morgan JPM saw a decrease in their pay pools in 2010, according to a recent Bloomberg report. Morgan Stanley, which is the onwer of the world's largest brokerage, cut the investment bank's compensation pool 2% last year to $7 billion. Morgan Stanley's companywide compensation was enough to pay each of the firm's 60,494 employees $238,602. Goldman Sachs compensation and benefits fell 5% to $15.4 billion, as revenue decreased 13% and the number of employees increased. Compensation is equal to 39% of the firm's revenue and is enough to pay each of Goldman's 35,700 employees $430,700, according to a statement made yesterday. This number is down 14% from 2009. J.P Morgan cut its average pay per employee by 2.4% to $369,651 in 2010. The compensation pool climbed 4% to almost $10 billion. J.P Morgan's compensation was 37% of revenue which is up for 33% last year. GS is trading lower at $165.31 MS is trading higher at $29.60 JPM is trading higher at $45.04