Despite the MTA's threats to eliminate student MetroCards and lay off workers to remedy massive budget deficits, the transportation agency has increased salaries for a second year, according to a newly released report.

"Over 60 conductors on the Metro North and Long Island Railroads are making over a $150-thousand a year just in wages even before benefits," Josh Barro of the Manhattan Institute, told PIX 11 News.

The Manhattan Institute along with the Empire Center for New York State Policy put out a report Wednesday listing the top MTA salaries.

One LIRR conductor making a base salary of $75-grand, took home a whopping $239-thousand last year, including $67-thousand in overtime. The rest was part of a retirement payout including $39- thousand in unused vacation time and $56 thousand in unused sick time.

On average LIRR employees get 5 vacation weeks a year and 12 sick days, which can be carried over year to year.

"These just show a problem with the MTA out of control compensation costs," said Barro.

The MTA is facing an $810-million budget shortfall in 2010 and released a statement saying they are taking steps to reduce compensation packages.

"We are in the process of overhauling every aspect of our business including the elimination of approximately 3,000 positions this year," said MTA spokesman Kevin Ortiz. "One key part of this effort is a focus on the work rules, pension padding and management oversight that leads to some of the unnecessary overtime highlighted in today's report."

However, one union leader told PIX 11 News if more jobs are eliminated, overtime will increase, because less people will be available to do the same amount of work.