The average annual Wall Street bonus fell to $176,700 last year, a 26% drop from the previous year's average of $240,400, according to estimates released Thursday.
The average annual Wall Street bonus fell to $176,700 last year, a 26% drop from the previous year’s average of $240,400, according to estimates released Thursday by New York State Comptroller Thomas DiNapoli. The 2022 bonus figure is more than twice the median annual income for US households. Rising interest rates, recession fears and Russia’s invasion of Ukraine hurt Wall Street firms’ bottom line.
7 billion — and the largest drop since the Great Recession. Nevertheless, an average bonus payout of $176,700 is nothing to sneeze at, considering the most recent Census figure for median US household income was $70,800 in 2021. For New York City and New York State coffers, bonus season means a welcome infusion of revenue, since employees in the securities industry make up 5% of private sector employees in NYC and their pay accounts for 22% of the city’s private sector wages.
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Wall Street bonuses fell 26% last year — lowest since 2019The typical Wall Street employee was paid a bonus of $176,700 in 2022, according to a report released by New York State Comptroller Thomas DiNapoli.
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Average Wall Street bonuses dipped 26% to $176,700 last yearAverage Wall Street bonuses dropped sharply last year to $176,700 amid lagging profits and recession fears. New York state’s comptroller reported Thursday that bonuses for employees in New York City’s securities industry dropped 26% from 2021, when the average was $240,400. Comptroller noted that bonuses returned to pre-pandemic levels last year. The securities industry has a significant effect on state and city tax revenue, accounting for an estimated 22% of the state’s tax collections and 8% of collections for the city.
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Wall Street bonuses dropped 26% in 2022 after record 2021
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