Firms are adding jobs for the first time in two years, rebuilding businesses cut during the financial crisis and offering guaranteed payouts to lure top bankers. In New York, 6,800 financial-industry positions were added from the end of February through May, the largest three-month increase since 2008, according to the New York State Department of Labor.
Morgan Stanley and Citigroup Inc. are among banks that are hiring to replenish their ranks, while Nomura Holdings Inc. and Jefferies Group Inc. have been recruiting talent from larger firms in a bid to increase their standing on Wall Street.
And later in the piece, you have this little gem:
Firms are paying 30 percent to 40 percent more than what employees are expecting to earn to lure them from other banks this year, according to an April report from Options Group, a New York-based executive search and compensation consulting company.[...]The demand for investment bankers and traders has led some firms to offer pay packages as high as $8 million, including guaranteed bonuses, which are paid regardless of an employee’s or the company’s performance, recruiters said.
Still cleaning up the mess from the last exploded bubble and our bankster overlords are already regrouping and teeing up for the next one. And all this while we are likely facing a healthcare-style implosion since the death of a Democratic senator makes it exponentially more of a fucking pain in the ass to financial regulation passed.
Ken Feinberg has our backs, though
It will be very tough for Wall Street to go back to the good old days
I'm sure.
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