Official: Average Wall St. bonus over $164K
ALBANY, New York (AP) — New York’s state comptroller says the average bonus paid to securities industry employees in New York City grew 15 percent last year to more than $164,000.
Comptroller Thomas DiNapoli says his analysis shows that’s the largest average Wall Street bonus since the 2008 financial crisis.
According to the comptroller’s report Wednesday, the securities industry has been profitable for five consecutive years. It has 165,200 workers in New York City, or 12.6 percent fewer than before the crisis.
Profits for broker/dealer operations of some 200 New York Stock Exchange members — the traditional measure of profitability for the securities industry — totaled nearly $16.7 billion last year, down 30 percent from a year earlier.
DiNapoli says the industry had a good 2013 despite costly legal settlements and higher interest rates.