Wall StreetFor most Americans, wage growth has been sluggish, to say the least, ever since the Great Recession began in late 2007. But that's not the case for Wall Street, the sector that helped cause the downturn. In fact, it looks like for the financial industry, the good times are well and truly back.
Less than two years after a massive government bailout, total Wall Street compensation hit a new record of $135 billion, according to a Wall Street Journal analysis. The rise is in part the result of increased revenue, which also spiked to a record high of $417 billion.
The average Wall Streeter is now paid $141,000 -- up 3 percent from last year. And the heavy hitters seem to be doing very well indeed. For example, Bank of America CEO Brian Moynihan saw a 67 percent rise in his total compensation last year. "Things are shifting back to where they were before," one expert on compensation told the Journal.Read More »from Wall Street pay hits new record