Wall Street Is Getting a Nice Bonus Boost
newser.com • • business
Key Points:
- The average bonus for New York City securities industry workers rose 6% to $246,900 in the past year, with total profits increasing over 30% to $65.1 billion, according to New York State Comptroller Thomas DiNapoli.
- The overall bonus pool reached a record $49.2 billion, the highest nominal amount since 1987, driven by heavy trading amid market volatility linked to tariffs from the Trump administration.
- When adjusted for inflation, the bonus pool is still below the peak levels seen in 2006 and remains under the highs of 2020 and 2021, with the comptroller's data excluding stock options and deferred pay.
- DiNapoli highlighted the importance of Wall Street's strength for state and city tax revenues but warned that weaker job growth and geopolitical tensions could pose risks to the industry and broader economy.
- Outlooks for this year's bonuses are becoming more pessimistic, with concerns that New York City's budget projections may be overly optimistic given current economic uncertainties.
