{"id":1397630,"date":"2022-03-24T07:44:47","date_gmt":"2022-03-24T11:44:47","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1397630"},"modified":"2022-03-24T07:44:48","modified_gmt":"2022-03-24T11:44:48","slug":"average-bonus-on-wall-street-surges-to-257500-per-worker-last-year","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/average-bonus-on-wall-street-surges-to-257500-per-worker-last-year\/","title":{"rendered":"Average Bonus on Wall Street Surges to $257,500 per Worker Last Year"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Faverage-bonus-on-wall-street-surges-to-257500-per-worker-last-year%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1397630&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"PageBuilder-col-full PageBuilder-col PageBuilder-article\"><\/div>\n<div class=\"PageBuilder-col-full PageBuilder-col PageBuilder-article\">\n<\/div>\n<div class=\"PageBuilder-col-9 PageBuilder-col PageBuilder-article\">\n<div class=\"RenderKeyPoints-keyPoints\" id=\"RegularArticle-KeyPoints-4\" data-test=\"keyPoints-1\" data-analytics=\"RegularArticle-keyPoints-4-1\">\n<div class=\"RenderKeyPoints-wrapper\">\n<div class=\"RenderKeyPoints-list\">\n<div>\n<div class=\"group\">\n<ul>\n<li>The average bonus paid to securities industry employees in New York climbed 20% to a record $257,500 for last year, according to state comptroller Thomas DiNapoli.<\/li>\n<li>The projection, released Wednesday in the annual report from New York&#8217;s top fiscal officer, includes cash bonuses for 2021 work as well as deferred awards paid out recently, according to DiNapoli.<\/li>\n<li>The fact that Wall Street pay came in higher than New York had projected &#8220;should help the city exceed its expected revenue from income taxes,&#8221; according to the report.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"ArticleBody-articleBody\" id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\">\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-106949509\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<div class=\"InlineImage-imageEmbedCaption\">People walk along Wall Street in the financial district of Manhattan on September 29, 2021 in New York City.<\/div>\n<div class=\"InlineImage-imageEmbedCredit\">Spencer Platt | Getty Images<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>The average bonus paid to securities industry employees in New York climbed 20% to a record $257,500 for last year, according to state comptroller <a href=\"https:\/\/www.osc.state.ny.us\/\" target=\"_blank\" rel=\"noopener\">Thomas DiNapoli<\/a>.<\/p>\n<p>The projection, released Wednesday in the <a href=\"https:\/\/www.osc.state.ny.us\/press\/releases\/2022\/03\/nys-comptroller-dinapoli-wall-streets-2021-bonuses-set-new-record\" target=\"_blank\" rel=\"noopener\">annual report<\/a> from New York&#8217;s top fiscal officer, includes cash bonuses for 2021 work as well as deferred awards paid out recently, according to DiNapoli.<\/p>\n<p>The higher compensation figures aren&#8217;t unexpected: Wall Street firms including <a href=\"https:\/\/www.cnbc.com\/quotes\/GS\" target=\"_blank\" rel=\"noopener\">Goldman Sachs<\/a> and <a href=\"https:\/\/www.cnbc.com\/quotes\/JPM\" target=\"_blank\" rel=\"noopener\">JPMorgan Chase<\/a> posted eye-popping revenue increases in January, fueled by <a href=\"https:\/\/www.cnbc.com\/2022\/01\/21\/goldman-partners-mint-15-million-pay-packages-as-boom-times-return-to-wall-street.html\">booming mergers<\/a>, public listings and strong trading activity. In November, pay consultants said they expected banks to post the <a href=\"https:\/\/www.cnbc.com\/2021\/11\/16\/wall-street-is-set-for-biggest-bonuses-since-great-recession-report.html\">largest increase<\/a> in bonuses since 2009.<\/p>\n<p>But DiNapoli&#8217;s report highlights the outsized role Wall Street employees have in New York&#8217;s financial health. Securities industry jobs make up just 5% of private sector roles, but accounted for 18%, or $14.9 billion, of state tax collections in the 2021 fiscal year, he said.<\/p>\n<p>That&#8217;s because Wall Street workers make almost five times the $92,315 average salary in the private sector excluding finance, according to the report. Securities workers saw overall compensation climb 7.7% to $438,370 for 2020, the latest data the comptroller had.<\/p>\n<p>There were 180,000 workers in New York&#8217;s securities industry in 2021, roughly unchanged from the previous year but 10% below its peak twenty years ago. New York remains the country&#8217;s financial capital, although its share of finance jobs has fallen as firms create new offices in Florida, Texas and other low-tax states.<\/p>\n<p>The fact that Wall Street pay came in higher than New York had projected &#8220;should help the city exceed its expected revenue from income taxes,&#8221; according to the report. However, the city&#8217;s financial planning assumes that markets activity cools off this year, and that bonuses for the industry will drop by 17%.<\/p>\n<p>&#8220;Wall Street&#8217;s soaring profits continued to beat expectations in 2021 and drove record bonuses,&#8221; DiNapoli said. &#8220;In New York, we won&#8217;t get back to our pre-Covid economic strength until more New Yorkers and more sectors \u2014 retail, tourism, construction, the arts and others \u00ad\u00ad\u2014 enjoy similar success.&#8221;<\/p>\n<\/div>\n<\/div>\n<div class=\"WatchLiveRightRail-inline WatchLiveRightRail-container\" id=\"RegularArticle-WatchLiveRightRail-7\" data-test=\"watchLiveRightRail-4\" data-analytics=\"RegularArticle-watchLiveRightRail-7-4\">\n<div class=\"WatchLiveRightRail-contents\"><a href=\"https:\/\/www.cnbc.com\/live-tv\/\" class=\"WatchLiveRightRail-wlButton\">WATCH LIVE<img decoding=\"async\" src=\"denied:data:image\/svg+xml;base64,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\" class=\"WatchLiveRightRail-logo\" alt=\"logo\" \/><\/a><a href=\"https:\/\/www.cnbc.com\/live-tv\/\" class=\"WatchLiveRightRail-wlButtonMobile\">WATCH IN THE APP<\/a><\/div>\n<\/div>\n<\/div>\n<div class=\"PageBuilder-col-9 PageBuilder-col PageBuilder-article\"><\/div>\n<div class=\"PageBuilder-col-12 PageBuilder-col PageBuilder-article\">\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The average bonus paid to securities industry employees in New York climbed 20% to a record $257,500 for last year, according to<\/p>\n","protected":false},"author":489,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1397630","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1397630","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/489"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1397630"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1397630\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1397630"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1397630"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1397630"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}