Annual compensation could fall 30 percent at Wall St firms

Annual compensation for employees at big Wall Street firms could fall 27-30 percent from a year earlier to its lowest level since 2008, the Wall Street Journal reported, citing a compensation study conducted by the Options Group. Bonuses, which make up an important part of many finance workers' pay, are on track to decline 35-40 percent, on average, according to the forecast by Options Group, an executive search and consulting firm. Pay is likely to be hardest hit in firms specializing in the areas of currencies and commodities, the Journal said.