Taking stock: Minimum wage would be $33 an hour if it grew at the same pace as Wall Street bonuses, new study finds
Wall Street bonuses have risen 1,000% since 1985 – going from $13,970 to $153,700 in 2018, according to a new report on wage disparity By comparison, the federal minimum wage ($7.25 an hour since 2009) has increased 116% during the same 33-year period The total value of all bonuses handed out to the 181,300 New York City-based Wall Street employees in 2018 was $27.5 billion, down 17% from 2017 That still amounts to three times the combined annual earnings of all 640,000 American workers earning the federal minimum wageBy Valerie Bauman Social Affairs Reporter For Dailymail.com
Published: 21:14 GMT, 26 March 2019 | Updated: 21:16 GMT, 26 March 2019
Minimum wage workers would be making $33.51 an hour if their earnings had grown at the same rate of Wall Street bonuses, according to a new report.
Those big bonuses have risen 1,000 percent since 1985 – going from $13,970 to $153,700 in 2018.
By comparison, the federal minimum wage ($7.25 an hour since 2009) increased 116 percent during the same period, according to the analysis by the left-leaning Institute for Policy Studies.
The total value of all bonuses handed out to the 181,300 New York City-based Wall Street employees in 2018 was $27.5 billion, or three times the combined annual earnings of all 640,000 American workers earning the federal minimum wage.
The bonuses are paid in addition to regular salaries and
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