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    Report: Wall Street Bonuses Will Decline 20 To 30 Percent This Year

    After two years of record payouts, Wall Street bonuses will take a hit this year, a new report says. The report finds that on average Wall Street workers will get an end-of-year bonus check worth 20 to 30 percent less than last year.

    NBC News reports:

    The report fromJohnson Associates, a compensation consulting firm, said recent economic uncertainty and roiling world markets are driving many financial services firms to reduce the pot of money they allocate toward bonuses.

    "This year started with great promise for a banner year on Wall Street, but hopes for larger bonuses faded over the summer and continue to dim as we approach year end," Alan Johnson, managing director of Johnson Associates, said in a release announcing the results.

    As Reuters reports, bonuses are key to compensation on Wall Street. "Traders, bankers and top executives typically receive base salaries of $100,000 to $1 million, but most of their compensation comes as bonuses," Retuers reports.

    A 20 to 30 percent hit is big. But that doesn't mean, they still won't keep quite a chunk of money. The AFP reports on some past-year bonuses:

    Last year, for instance, JPMorgan Chase chief executive James Dimon had a base salary of just $1 million, but a cash bonus of $5 million and stocks and options grants that took total pay to more than $20 million, according to compensation specialists Equilar.

    The Johnson study said that compensation models on Wall Street have been changing since the financial crisis, due in part to tougher regulations.

    The crisis has been blamed in part on bankers' excessive risk-taking that was partly driven by the promise of bonuses many times their regular salaries.

    Copyright 2011 National Public Radio. To see more, visit http://www.npr.org/.

    NPR

    For Penn & Teller's Magical Partnership, The Trick Is Telling The Truth

    The duo Penn Jillette and Raymond Teller are back on Broadway. They both talk — yes, even Teller — with NPR's Scott Simon about magic, danger and the remarkable endurance of their 40-year partnership.
    NPR

    At The Purple Pie Place, Where The Crusts Are Just Sweet Enough

    Bobkat's Purple Pie Place is a fixture in Custer, S.D. From chicken pot pie to strawberry rhubarb, Trevor Yehlie and his family have been baking and serving pies at the local favorite since 2009.
    NPR

    Empire Strikes PAC And Other Punny SuperPAC Names

    My Cat Xavier For a Better Tomorrow, Tomorrow superPAC backed Hank the Cat in the 2012 Virginia Senate election. Xavier also cared about naps, treats, and prison reform.
    NPR

    Despite Host Controversy, Amazon Takes A Chance On 'Top Gear'

    The trio that made Top Gear the world's biggest car show will return to the small screen in a new show for Amazon Prime. The BBC canned one of its hosts last year after a fight with a producer.

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