Wall Street bonuses fall by 9%

New York Stock Exchange, Wall street on summer morning.

The average bonus paid to employees in New York City’s security industry fell by 9% to $146,000 in 2015, according to the Office of the New York State Comptroller.

Overall, Wall Street’s bonus pool declined by 6% to $25 billion in 2015 as the security industry’s profits fell by nearly 11%.

The average salary for employees in New York City’s security industry, inclusive of bonuses, increased by 14% to $404,800 in 2014. This compares to an average salary of $72,300 for private sector employees in New York City in 2014.

Thomas DiNapoli, New York State Comptroller, said: “Wall Street bonuses and profits fell in 2015, reflecting a challenging year in the financial markets.

“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.”