| Financial services executives are getting big bonuses | | | | Bonuses, noted Paul Hodgson, a senior researcher at |
| despite complaints about excessive compensation. On | | | | the Corporate Library, LLC, a corporate-governance |
| average, top executives received $3.35 million in | | | | research firm in Portland, Maine, "tend to be fairly |
| bonuses in 2005, up almost 30 percent from 2004, | | | | reflective of actual achievements." However, he said, |
| according to Investment News. The trade newspaper | | | | annual bonuses are now so high "that level of |
| based its figures on a review of compensation for | | | | compensation should only be paid out for long-term |
| some 50 financial services executives. | | | | achievements as opposed to short-term operational |
| These executives gave up a modest amount of their | | | | achievements." |
| base salary - 1.25 percent, to be specific, for an | | | | Recently, a number of investors have called for an |
| average of $550,405. | | | | end to such large compensation packages, and the |
| "Business is good, and when business is good, people | | | | Securities and Exchange Commission is considering |
| want to get paid," New York-based recruiter Michael | | | | changing disclosure rules so that perks worth more |
| Kelly told Investment News. "Trust me, that couldn't be | | | | than $10,000 is required, down from the current level of |
| truer on Wall Street." | | | | $50,000. |