Wall Street bonus bonanza
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The average annual bonus on Wall Street last year was $246,900, up 6% from 2024, according to data out Thursday morning from the New York state comptroller's office.
Why it matters: Higher bonuses are a sign that finance had a good year — the market turmoil and uncertainty caused by the Trump administration's tariffs only helped boost business across Wall Street trading desks.
Zoom in: Profits in the securities industry rose more than 30%, to $65.1 billion, according to the report from New York State Comptroller Thomas DiNapoli.
- Wall Street's securities bonus pool was a record $49.2 billion last year, up 9% from 2024.
- The report estimates bonuses using income tax withholding data, looking at pay to securities industry employees working in New York City from December through March. It does not include stock options or other deferred compensation.
Reality check: When adjusted for inflation, the bonus pool actually peaked in 2006, at $53.7 billion, the comptroller's report notes.
- And last year's bonuses, adjusted for inflation, are still lower than during 2020 and 2021, when markets and dealmaking boomed in the pandemic.
What they're saying: "Wall Street saw strong performance for much of last year, despite all of the ongoing domestic and international upheavals," DiNapoli said in a press release.
- "When Wall Street does well, it's good for our state and city budgets, which are reliant on the industry's significant tax contributions."
What to watch: He also warned that slowing job growth and "geopolitical conflict" now pose risks for the financial sector and the economy.
