Last Wednesday, State Comptroller Tom DiNapoli released his office’s annual estimate of bonuses paid to securities industry employees who work in New York City during the traditional bonus season. This year’s report finds that securities industry profitability rose by 21% in 2016, and the average bonus paid to employees in New York City’s securities industry increased by 1% to $138,210.
Comptroller DiNapoli said:
“Wall Street profits bounced back strongly in 2016. Lower costs more than made up for the continued decline in revenues. Bonuses were up only slightly in New York City as the industry held the line on compensation. The jump in profitability is good news since the industry generates a significant amount of tax revenue for both the state and city budgets.”