The average cash bonus for New York-based financial services employees in 2013 was $US164,530, according to an annual report released by the New York State Comptroller Thomas DiNapoli’s office (via DealBook).
Bonuses for Wall Streeters increased 15% from the previous year, the report said.
“Wall Street navigated through some rough patches last year and had a profitable year in 2013. Securities industry employees took home significantly higher bonuses on average. Although profits were lower than the prior year, the industry still had a good year in 2013 despite costly legal settlements and higher interest rates. Wall Street continues to demonstrate resilience as it evolves in a changing regulatory environment,” Napoli said in a statement.
The average salary (including bonuses) for New York financial services employees was $US360,700 in 2012. The data wasn’t available yet for 2013, the report said.
Even though bonuses are up, the number of folks who work on Wall Street still hasn’t returned to the pre-financial crisis numbers.
According to the report, approximately 165,200 people in New York worked on Wall Street as of December 2013. That’s still 12.6% fewer Wall Streeters than before the 2008 collapse.
Here’s a chart of Wall Street bonuses in New York going back to 1985: