Wall Streeters are taking home disappointing bonuses this year.
The average bonus for folks in the securities industry in New York City dropped to $146,200 last year from $160,280 in 2014, according to the New York State Comptroller, Thomas DiNapoli.
That’s a 9% decline.
The total bonus pool also dropped in 2015. It came in at $25 billion, down 6% from $26.7 billion in 2014.
The drop reflects “a challenging year in the financial markets,” DiNapoli said in a statement.
“While the cost of legal settlements appears to be easing, ongoing weaknesses in the global economy and market volatility may dampen profits in 2016. Both the state and city budgets depend heavily on the securities industry and lower profits could mean fewer industry jobs and less tax revenue.”
Here’s the average bonus over the past 20 years:
Here’s the breakdown by bonus pool:
Credit Suisse slashed its 2015 bonus pool by 11% following its first annual loss since 2008. For the global markets — or sales and trading — team, the bonus pool was cut by 36%.
Deutsche Bank cancelled bonuses for its senior executives after posting a $7.4 billion loss for 2015.