Wall Street Pay to Rise 4% in 2010: Report

Wall Street's top publicly held securities and investment-services firms are set to pay $144 billion in compensation and benefits in 2010, a 4% increase from last year, according to a study conducted by the <I>Wall Street Journal</I>.
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NEW YORK (

TheStreet

) -- Wall Street's top publicly held securities and investment-services firms are set to pay $144 billion in compensation and benefits in 2010, a 4% increase from last year, according to a study conducted by the

Wall Street Journal

.

Compensation was expected to rise at 26 of the 35 banks, investment banks, hedge funds, money-management firms and securities exchanges, that took part in the survey, the

Journal

reports.

Wall Street pay is on pace to break a record high for a second consecutive year.

Revenue is expected to rise at 29 of the 35 firms surveyed, but at a slower pace than pay, according to the Journal. Wall Street revenue is expected to rise 3% to $448 billion from $433 billion, despite a slowdown in some high-profile activities like stock and bond trading, the newspaper notes.

-- Written by Joseph Woelfel

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Joseph Woelfel

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