“We don’t have the extreme levels of pay we saw 10 years ago,” said Alan Johnson, a Wall Street pay consultant. “The people making $10 million or $20 million a year aren’t there anymore.”

Wall Street pay may be about to soar even higher as the Trump administration takes an ax to some Obama-era regulations. The Volcker Rule was weakened last year, giving banks more leeway on trading, and the Consumer Financial Protection Bureau has been effectively neutered. More changes may be on the way.

“I would say we had 150% more regulation than optimal during Obama,” Johnson said. “Now we’re at 125%.”

Crain’s NY / April 2, 2019