NEW YORK, March 26 (Reuters) – Bonuses for Wall Street executives jumped 9% to a record $49.2 billion in 2025, according to an estimate from New York State Comptroller Tom DiNapoli published on Thursday.
The average bonus climbed 6% to $246,900 as dealmakers, traders and wealth managers were buoyed by strong trading, underwriting and management fees, even as geopolitical uncertainty and tariffs roiled markets. The securities industry’s profits surged more than 30% to $65.1 billion, according to the state’s estimate.
“Wall Street saw strong performance for much of last year, despite all of the ongoing domestic and international upheavals,” DiNapoli said in a statement. “When Wall Street does well, it’s good for our state and city budgets, which are reliant on the industry’s significant tax contributions.”
Wall Street accounts for more than 19% of New York state’s tax collection.
The financial industry is seeing slower job growth. Preliminary data indicate a small decrease in the number of employees last year to 198,200 from a 30-year high of 201,500 in 2024. Headcount data is likely to be revised higher for 2025 to reflect modest growth, the comptroller added.
The average annual salary in New York’s securities industry rose 7.3% to $505,677 in 2024, including bonuses, which represent around 42% of total wages.
(Reporting by Tatiana Bautzer, editing by Lananh Nguyen and Nia Williams)
Comments