Might want to check out Lazard that posted a $140MM loss, because they paid a record comp ratio of 71% of their $1.6B revenue as comp figures. Last year their ratio was around 55-57%, meaning that if they paid the same compensation ratio, they could have posted around a $300MM profit. Nice, at least some banks still care about paying big bonuses rather than reward their shareholders
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just to clarify, it's the same average comp of 500,000 per employee, as Goldman Sachs. Lazard also is trying to get rid of all deferred comp plans, and have accelerated earlier deferred plans to pay now. Awesome, what would bruce say?
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Good thing? Bad Thing?
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