ALBANY, N.Y. — The average bonus paid to Wall Street traders dipped by more than $30,000 despite a jump of 11 percent in securities industry profits, according to a report released Tuesday by the comptroller for New York state. Comptroller Thomas DiNapoli’s annual estimate of the average bonus paid to security industry employees found that bonuses fell 17 percent last year, from $184,400 in 2017 to $153,700. The annual accounting by the state comptroller’s office of Wall Street bonuses paid out from December through March serves as an indicator of how the financial services industry is doing. It also gives New York City and state tax collectors an idea of how much to expect from taxes on the billions of dollars in bonuses Wall Street brokerage firms pay employees. Profits for broker-dealer operations of New York Stock Exchange member firms totaled $27.3 billion in 2018, up from $24.5 billion in 2017, the report said, despite end-of-the-year volatility in … [Read more...] about Wall Street bonuses fall over $30K despite profit upturn
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By Echo Wang (Reuters) - Goldman Sachs Group Inc is setting targets for hiring minority groups for the first time as it ramps up efforts to diversify its workforce, according to a memo sent by top executives to employees on Monday. The Wall Street bank, which last year said it wanted women to make up half of its entry-level workforce, now is aiming to ensure that 14 percent of new analysts and associates in the Americas are Hispanic or Latino and 11 percent of them black, according to the memo, which was seen by Reuters. In Britain, Goldman Sachs wants 9 percent of its entry-level workforce to be black. The bank, whose senior executives are primarily white and male, did not set targets for more experienced employees, but is now requiring businesses to interview at least two qualified diverse candidates for each open position. Goldman Sachs said in the memo it is “nearly there” with the targets it announced last year for campus hiring, and is exploring ways to increase … [Read more...] about Goldman Sachs sets targets for Hispanic and black entry-level hires
After a decade of becoming one of the most-awaited features of the state boys' hockey tournament, creators of the all-hair team video said the 2019 video will be their final cut. The announcement was made on the Hendrickson Foundation's "Hockey Changes Lives" gofundme.com page. The foundation supports sled hockey, military hockey and other special projects in Minnesota. Without any spoilers, here's the 2019 video from Game on! Minnesota: As a bonus, here's a look at the 2017 and 2018 all-hair teams. Keep in mind that not everyone loved the annual videos. Two years ago, the former executive director of the Minnesota State High School League told the Wall Street Journal, there were nothing more than "a guy who's sitting in his living room taking photos off his TV set. My concern is for the kids and the tournaments." … [Read more...] about Going (away) with the flow: Hockey all-hair team ending 10-year run
Getty Images INDIANAPOLIS—It’s Kyler Murray’s Combine, followed by Kyler Murray’s Pro Day, followed by the spring of Kyler Murray Rumors, followed by, mercifully, the first round of the NFL Draft on April 25 and the official landing place of Kyler Murray. Who, by the way, did nothing here over three days except measure taller than he was supposed to (by a whole quarter of an inch!), talk to 10 teams, and geek out over seeing the coaches he’s been watching on TV for years. Until the defensive linemen ran fast on Sunday, the player who did nothing here was the mega-story. A lot of it was the size thing. “I’m just sitting here and I’m on the TV. You can’t really get away from it,” a bemused Murray said in his only media availability here, a 40-question, 20-minute session with reporters Friday.But this was more than the mania over 5-10 1/8. Murray’s fate and his story just hung over the whole shebang. “I … [Read more...] about FMIA: Kyler Murray, No. 1 Story at the Combine, And No. 1 Pick in the Draft?
President George W. Bush’s presidential center and other business groups are denouncing a pending regulation by President Donald Trump that would open tens of thousands of U.S. jobs to young American graduates. Trump’s reform will hurt “employers that have benefited … for the last few years,” complained Laura Collins, the director of the economic growth program at the George W. Bush Presidential Center.Trump’s pending regulation reportedly would end the policy of giving bonus work permits to wives of foreign workers who have H-1B visas, and would, therefore, shift jobs and salaries from foreign temporary workers to American graduates. The H-1B program allows foreign visa-workers — but not spouses — to take middle-class jobs from Americans. But the H-1B salaries are very low, so the bonus program allows the spouses to supplement the family income. The extra income encourages the lower wage H-1B workers to stay in … [Read more...] about George W. Bush Center Slams Trump’s Plan to Boost Jobs for U.S. Graduates