Wall Street pay exploded last year to an all-time record.
Average salaries, including bonuses, grew by 14% in 2014 to $US404,800, according to a new report from New York State Comptroller Thomas DiNapoli.
After inflation, 2014 was the third highest year on record.
Wall Street pay was nearly six times higher than the average for the rest of New York City’s private sector, where the average salary was $US72,300 last year.
Bonuses were up around pre-crisis levels.
The average bonus, up more than 50% over the past 3 years, was $US172,900 last year, according to the report. The only years bonuses were higher were the two years leading up to the 2008 financial crisis.
Here’s another way to conceptualize how much Wall Streeters get paid: although the finance industry accounts for less than 5% of the New York City’s private-sector workforce, it accounts for 22% of all wages paid in the city.
As Business Insider reported earlier this year, the average bonus is up 2% from the year before, and the bonus pool itself was up 3%.
Here’s a look at how Wall Street bonuses has exploded since 1986, from a March 2015 Comptroller report: