The average bonus paid to employees in New York City’s securities industry for 2024 reached $244,700, up 31.5% from last year, according to New York State Comptroller Thomas P. DiNapoli’s annual estimate. The bonus pool for the city’s securities employees reached a record $47.5 billion, its first major increase since the COVID-19 pandemic highs. Wall Street’s profits rose 90% in 2024.
“The record high bonus pool reflects Wall Street’s very strong performance in 2024,” DiNapoli said. “This financial market strength is good news for New York’s economy and our fiscal position, which relies on the tax revenue it generates. However, increasing uncertainty in the economy amid significant federal policy changes may dampen the outlook for parts of the securities industry in 2025.”
The bonus pool is regarded as a barometer for Wall Street employees’ spending on for-sale apartments and retail products during the year. In 2023, the most recent year for which figures are available, Wall Street was responsible for 17.7% of all economic activity in New York City.
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