Executive compensation

As economy booms, Wall Street bonuses shrink

Illustration of a hand holding out a tiny stack of cash.
llustration: Aïda Amer/Axios

Brace yourself: New York city officials estimate the pool of money allocated to bonus payouts by Wall Street firms will shrink by at least 9% this year — to about $25 billion from the $27.5 billion doled out in 2018.

Why it matters: A surging stock market and low unemployment rate don’t mean that bonuses in the securities industry will keep growing and growing.

Expert Voices

Investor pressure is driving climate action at fossil fuel companies

an oil derrick holding up a small globe
Illustration: Rebecca Zisser/Axios

As the political urgency around climate change has grown, activist shareholders are increasingly pressuring fossil fuel companies to change how they operate.

The big picture: Climate-related reforms have received especially strong support from large institutional investors, yielding changes in disclosure, governance, compensation and more.