[ by Melanie Gretchen ]

If you can stay, it will pay.

Wall Street is a clear case of contradiction.  While thousands were given their walking papers during last year's volatile market, those who stayed by "hook or crook" - or were "not voted off of the island" - now are enjoying their just deserves. For 2012, the average cash bonus on Wall Street - or, more accurately in financial services and working in New York City - increased almost 9% over last year, to $122,000.  

That statistic came from Thomas DiNapoli, New York State comptroller, who breathes a sigh of relief every time there's positive news from the industry that stirs the city's martini cocktail.  This year, total cash bonuses are expected at $20 billion.  That's short of 2010's $22.8 billion, and no where near the record-setting $34.3 billion in 2006.  Nevertheless, $20 billion is a very generous piece of change - given all the volatility and record-breaking fines and sanctions.

Changing Tide?  The state comptroller's report further contained these interesting bits of information:

• JPMorgan Chase will cut 17,000 jobs over the next 2 years through layoffs and attrition.
• Financial industry employment in New York City actually fell in the 2nd half of 2012.
• Despite recent losses, 30% of the 28,300 jobs lost during the financial crisis have been restored.  We remember that the consensus on the Street was that lost jobs would never return. 

[ C-I Note:  And the remaining 70% of the jobs?  Where have those Wall Street 'gypsies' landed. if at all.  That amounts to decades of experience that hopefully can be used elsewhere? ]

For further details, go to [Dealbook, 2/26/13].