New York State Comptroller Thomas DiNapoli has released new figures today revealing a recent jump in Wall Street banker bonuses, which increased by 31.5% to reach an average of $244,700.
The significant payouts follow a 90% increase in Wall Street profits last year. However, investments have slowed at the beginning of 2025 due to market uncertainty and global geopolitical challenges, including President Donald Trump’s tariffs.
“The record high bonus pool reflects Wall Street’s very strong performance in 2024. This financial market strength is good news for New York’s economy and our fiscal position, which relies on the tax revenue it generates., ” 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.”
DiNapoli’s estimates are based on tax withholding trends, such as cash bonuses paid for work performed in 2024. They do not include stock options or other forms of deferred compensation that do not incur taxes.
By CEO NA Editorial Staff
