It will come as no surprise to many but everyone's favorite enemy #1, the US banker, decided to give himself a well-earned pay-rise in 2011 - according to data from Moody's Analytics (via Crain's).
What is perhaps a little more surprising is the sheer gall of it given
that the financial industry profits plunged over 70% from $27.6bn in
2010 to a mere $7.7bn in 2011. While the rise in salaries is not large,
and the average man on the street actually saw a bigger rise, the
critical point is that for two years in a row - from 2009 to
2010, and now from 2010 to 2011 - banking industry profits have dropped
like a stone but the average salary of those oh-so-deserving
'Wall-Street'ers has risen.
http://www.zerohedge.com/news/bank-profits-plunged-2011-banker-bonuses-rose
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