Dow Falls As Financials Struggle; Jpmorgan, American Express Lead Declines

For JPMorgan Chase, Goldman Sachs (NYSE: GS ) , and other Wall Street banks, the strong performance in the financial markets has caused compensation costs to rise, with Wall Street's payouts of bonuses for 2013 reaching their highest level since 2008, according to the comptroller of the state of New York. At $26.7 billion in aggregate, bonuses equated to an average payout of $164,530, the third best year in history. Compensation pressure is a constant struggle for financial firms, as even when profits are under threat from billion-dollar legal settlements and other regulatory issues, top-notch talent demands top-scale pay in order to avoid jumping ship and taking their skills to a competing company. For the original version including any supplementary images or video, visit http://www.fool.com/investing/general/2014/03/12/dow-falls-as-financials-struggle-jpmorgan-american.aspx