In March 2004, bonuses accounted for 1.6percentt of total compensation (including wages, salaries and benefits).
Pensions form such a large part of total compensation that they squeeze pay.
"They took a lot of grief here," said Charles Paul, director of total compensation at Yale University.
Those incentives decreased 16percentt from 1999 and now represent about 12percentt of total compensation, according to the survey.
Bonuses, Wall Streeters say, are a crucial part of total compensation, and are often treated as deferred salaries.
The wage and salary share of total compensation budgets fell by nearly 2percentt over the same period.
With a starting rate of "total compensation" of £330,000 a year, the total raised "would be over £1.3bn".
In 1990 the equity-based share of total compensation for senior managers of U.S. corporations was 20%.
Before launching the program, performance-related pay was a small proportion of total compensation, even for the most senior executives.
While bankers earn far more than people in many other fields, pay experts also noted that bonuses account for a large portion of total compensation on Wall Street.
Bonuses based on performance will amount to about 10.5percentt of total compensation in 2002, down from 10.8percentt last year, according to Hewitt's survey.
