No, Not A Bonus

Wall Street's pay system is not a bonus system.

Many employees in the financial industry are simple salesmen. They are paid on commission.

Many non-sales oriented workers are paid on an incentive basis for working long hours to analyze markets and investment opportunities.

Each month they receive a draw, or call it an advance, upon their expected sales' commission.

At some point in the calendar year, these employees receive the remainder of their earnings -- that money not previously paid through their monthly draws.

That lump sum appears to naive outsiders as a bonus. It actually is payment of the remainder of the salesmen's and employees' commissions.

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