Wall St. Bonuses Are Down, but Hardly Out

Wall Street bonuses could top $23 billion this year despite the woes of the global economy, Forbes reports. Indeed, that figure is down some 30% from last year’s $33.2 billion, but a smaller pool of employees, competition among companies to keep top performers, and the effects of mergers will help ensure many of the Street’s stars still walk away with millions.

This year, analysts say, more bonuses will be paid in deferred stock awards than in cash, as companies heed public perceptions in light of the infusion of government cash to Wall Street. Citigroup, for example, has set aside $25.8 billion for bonuses this year; it has $25 billion in federal cash coming in. (More financial crisis stories.)