Wall Street cash bonuses fell by roughly 8% in 2010 from the prior year despite strong profits, according to New York State Comptroller Thomas DiNapoli, reflecting a changed compensation culture on Wall Street.

Last year, financial institutions paid out $20.8bn (€15.1bn) in cash bonuses, down from $22.5bn a year ago, and more than a third less than the $34.3bn paid in 2006, the golden age of cash bonuses. The 2010 bonus pool was the fifth highest on record.