When they do spend them, Wall Streeters are spending the biggest shares of their 2006 bonuses on real estate. Just over 16 percent of last year’s record bonuses went toward buying homes, often second or third ones, according to a new survey of more than 200 Wall Street professionals at six large investment banks who got at least $2 million each in bonuses.
After real estate, according to The Wall Street Journal, the biggest shares of the bonuses went toward fine art and collectibles (11.9 percent), jewelry and watches (11.2 percent), and home improvements (10.2 percent).
It should be noted that most bonuses didn’t go toward any purchases, really–16.5 percent, according to the survey by research firm Prince & Associates, went into savings or, well, into investments.
- Tom Acitelli