Wall Street bonuses are on track to hit new records this year as profits surge and dealmaking rebounds. Profits at the 130 New York Stock Exchange firms reached $30.4 billion in the first half of 2025, according to New York State Comptroller Thomas DiNapoli, who said they could reach the “highest level on record” if the trend continues.
Compensation expenses rose nearly 10% from last year, signaling another jump in payouts after 2024’s record $244,700 average bonus, according to Bloomberg.
“While uncertainty remains around interest rates, inflation and the broader economy, Wall Street looks to have another strong year,” DiNapoli said.
Major banks — including JPMorgan Chase, Goldman Sachs, and Wells Fargo — reported $15.4 billion in third-quarter trading revenue, the most in at least five years, fueled by AI-linked stock rallies and tariff-driven volatility.
Bloomberg writes that New York City tax collections from the securities industry climbed 35.1% to $6.7 billion, with the average industry salary up 7.3% to $505,630, about five times higher than the citywide average.
DiNapoli emphasized Wall Street’s importance to public funding: “However you feel about Wall Street, good or bad, the reality is the services that we provide… significantly rely on the profits of Wall Street.”
The gains come amid political debate over wealth inequality, as communist mayoral candidate Zohran Mamdani campaigns to tax the rich and use the funds to knock down luxury housing and replace it with Section 8 housing (OK, we’re being hyperbolic here…but not much).
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