Wall Street Workers Still Get Bonuses, Many Unhappy, Poll Finds

[Joanne98]

Jan. 27 (Bloomberg) -- About 79 percent of Wall Street employees responding to an online poll this month said they received a bonus for 2008, more than the 66 percent who expected to get a reward in October, according to eFinancialCareers.Com.

Of the people who said they received a bonus, 46 percent said it was higher than last year, eFinancialCareers, a unit of Dice Holdings Inc., said in an e-mailed statement. About 900 U.S. users of the financial jobs Web site responded to the survey conducted Jan. 7-12. In October, 1,300 people responded, and 36 percent said than that they anticipated a higher bonus.

Wall Street’s system of paying year-end bonuses to reward workers is under criticism after the worst financial crisis since the Great Depression led to record losses and forced the government to pump taxpayer money into banks. Still, 46 percent of people responding to the poll said they were dissatisfied with their bonus.

“What it shows is the bonus culture is very deep-set in the securities industry,” said John Benson, founder and chief executive officer of the Web site. “There’s an entitlement culture amongst a number of people in the industry, which I think in the current environment is very misplaced.”

Most of the people who said they were unhappy with their bonus, 89 percent, had five years or less experience, the survey found.

http://www.bloomberg.com/apps/news?pid=20601087&sid=acmnZa01tgN0&refer=home

[DBoon]

1. Die, Yuppie Scum

nt

[snappyturtle]

2. They ought to be happy they still have jobs! The bonus mentality is unprecedented,

ever growing malignant greed. imho