Pay on Wall Street is on pace to break a record high for a second consecutive year, according to a study conducted by The Wall Street Journal.

About three dozen of the top publicly held securities and investment-services firms-which include banks, investment banks, hedge funds, money-management firms and securities exchanges-are set to pay $144bn in compensation and benefits this year, a 4% increase from the $139bn paid out in 2009, according to the survey. Compensation was expected to rise at 26 of the 35 firms.