Wall Street "New" Math Just As Confusing As Old Math | The

It’s not how much money you make, it’s what the money’s called. Not to mention what you’re called. Just ask the Wall Street lower classes, those making between $250,000 and $500,000 annually. They’re reportedly dismayed by the real possibility that their 2010 annual bonus will be a lump of coal -- a big fat zero.

Trying to get regulators and regular people to pipe down over the exorbitant paydays even incompetent managers regularly pull down on Wall Street, some compensation managers came up with what should have been a win-win maneuver. They raised base annual salaries in 2009 and 2010 to cover what they otherwise would have handed out as year-end bonuses.

At Goldman Sachs, for example, managing directors are making $ $500,000 instead of the $300,000 they were making last year; Morgan Stanley and Credit Suisse directors are making $400,000, twice what they made last year

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