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Bank of America (NYSE: BAC), Morgan Stanley (NYSE: MS) Institute Multi-Billion Dollar Compensation Increases

By Implode-Explode Heavy Industries

"Morgan Stanley said that it has earmarked $14.4 billion for compensation, most of which will be given out in the form of year-end bonuses. This represents a 31% increase from the year previously as Morgan Stanley has added thousands of new brokers to its payroll because of it joint venture with Citigroup under Smith Barney. Morgan Stanley did report a slightly lower average compensation on a per-employee basis."

Full post as published by Mortgage Lender Implode-o-Meter on January 22, 2010 (boomark / email).