### Wall Street Bonuses Hit Record High of $47.5 Billion in 2024
The average bonus paid to employees in New York City’s securities industry in 2024 soared to $244,700, marking a 31.5% increase from the previous year, according to New York State Comptroller Thomas P. DiNapoli’s annual estimate. The total bonus pool for securities employees in the city reached a record $47.5 billion, representing the first major surge since the highs of the COVID-19 pandemic. Additionally, Wall Street’s profits saw a remarkable 90% increase in 2024.
“The record high bonus pool reflects Wall Street’s very strong performance in 2024,” DiNapoli stated. “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 size of the bonus pool is often viewed as an indicator of Wall Street employees’ spending on real estate and consumer goods. In 2023, Wall Street was responsible for 17.7% of all economic activity in New York City, underscoring its critical role in the local economy.
