Question: 2016 2017 2018 Compensation Expenses (Base & Variable Pay): 38.5 41.7 40.6 Pay-for-Performance Expenses: 7.5 10.3 9.9 Benefits Expenses: 18.3 19.9 19.3 Total Operating Expenses:
| 2016 | 2017 | 2018 | |
| Compensation Expenses (Base & Variable Pay): | 38.5 | 41.7 | 40.6 |
| Pay-for-Performance Expenses: | 7.5 | 10.3 | 9.9 |
| Benefits Expenses: | 18.3 | 19.9 | 19.3 |
| Total Operating Expenses: | 65.6 | 72.7 | 74.0 |
| Total Revenue: | 199.1 | 191.9 | 178.7 |
| Total Compensation Expense Factor: | 0.87 | 0.85 | 0.81 |
| Pay-for-Performance Expense Factor: | 0.11 | 0.14 | 0.13 |
| Total Compensation Revenue Factor: | 0.29 | 0.32 | 0.34 |
| Pay-for-Performance Revenue Factor: | 0.04 | 0.05 | 0.06 |
What trends did you notice? What implications do they have?
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