Average Wall Street bonus dipped to $176,500 last year

Wall Street bonuses fell somewhat past twelvemonth contempt an summation successful manufacture profits, New York State Comptroller Thomas DiNapoli said Tuesday.

DiNapoli's yearly estimate recovered nan mean yearly Wall Street rate prize was $176,500 successful 2023, down 2% from $180,000 successful 2022. 

A man strolls past nan New York Stock Exchange successful New York City. (Spencer Platt/Getty Images / Getty Images)

The manufacture saw a 1.8% summation successful profits past year. DiNapoli attributed nan little payouts to a emergence successful workers successful nan securities manufacture and to firms taking "a much cautious attack to compensation."

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"Wall Street’s mean rate bonuses dipped somewhat from past year, pinch continued market volatility and much group joining nan securities workforce," DiNapoli said successful a statement. 

Stock trader Peter Tuchman looks astatine a clipboard connected nan level of nan New York Stock Exchange astatine nan closing doorbell connected Dec. 30, 2022, successful New York.  (TIMOTHY A. CLARY / AFP) (Photo by TIMOTHY A. CLARY/AFP via Getty Images / Getty Images)

The full Wall Street prize excavation was $33.8 cardinal successful 2023, mostly successful statement pinch what was paid retired successful 2022. It represents a crisp diminution from nan 25% maturation successful 2020 ($37.1 billion) and nan 15% surge successful 2021 ($42.7 billion).

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The comptroller noted that Wall Street bonuses person a important effect connected nan budgets of New York City and nan state, accounting for 7% and 27.4% of their taxation collections, respectively.

A trader useful during nan opening doorbell astatine nan New York Stock Exchange connected Wall Street successful New York City connected Aug. 16, 2022. ((Photo by ANGELA WEISS/AFP via Getty Images) / Getty Images)

But officials expected declines for fiscal twelvemonth 2023 and planned up truthful nan flimsy alteration successful gross will not person a awesome effect connected either successful nan short term.

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The securities industry employed astir 198,500 group successful New York City past year, up from 191,600 successful 2022. DiNapoli estimates that 1 successful 11 jobs successful nan metropolis is either straight aliases indirectly associated pinch nan sector.