Wall Street bonuses climbed to record levels in 2025, supported by strong profits, trading activity, and fee growth across the securities industry. New York State Comptroller Thomas P. DiNapoli said the bonus pool reached $49.2 billion, while the average bonus rose to $246,900. However, early signs in 2026 show a softer backdrop as hiring slows and market risks increase.
Wall Street’s securities industry bonus pool rose 9% to a record $49.2 billion in 2025, according to New York State Comptroller Thomas P. DiNapoli. At the same time, the average bonus increased 6% from a year earlier to $246,900.
The rise followed a strong year for the industry’s earnings. Pre-tax profits reached $65.1 billion in 2025, up more than 30% from $49.9 billion in 2024. Trading activity, underwriting, and asset-management fees were among the main drivers of the increase.
DiNapoli said, “Wall Street saw strong performance for much of last year, despite all of the ongoing domestic and international upheavals.” He also said strong results on Wall Street support both state and city finances through tax payments.
The latest estimates show that Wall Street remains a major source of public revenue in New York. DiNapoli said the 2025 bonus payments are expected to bring in $199 million more in state income tax revenue and $91 million more for New York City than the year before.
The securities industry also continues to hold a large place in the local economy. It accounted for 20.2% of all economic activity in New York City in 2024 and 19.4% of state tax collections in the last fiscal year. These figures show why bonus growth receives close attention from budget officials.
Pay across the industry also moved higher. The average securities industry salary in New York City rose 7.3% to $505,677 in 2024, including bonuses. This was the second-highest level on record and nearly five times the average salary in the rest of the city’s private sector. Bonuses made up about 42% of all industry wages.
Even so, not all indicators moved upward. Industry headcount fell to 198,200 in 2025 from 201,500 in 2024, which had been a 30-year high. DiNapoli’s office said later data revisions may show modest growth, but the early reading points to a slower hiring pace.
New York City’s share of national securities jobs has also declined over time. It now stands at 17.9%, down from about one-third in 1990. Other cities, including Dallas and Miami, have expanded their financial sectors and added pressure on New York’s long-held lead.
DiNapoli warned that the industry faces a less certain path ahead. He said, “However, we are seeing slower job growth, and geopolitical conflicts pose extraordinary risks for the short- and long-term outlook.”
The stronger 2025 bonus figures may also fall short of what some budget plans had assumed. The governor’s proposed budget expected finance sector bonuses to rise 25.9% in the current fiscal year, while New York City projected a 15.1% rise in securities bonuses. Based on DiNapoli’s estimate, those goals now appear difficult to meet.
At the same time, market conditions in early 2026 have become more unstable. President Donald Trump’s tariff agenda has unsettled equity markets, and Wall Street’s hiring momentum has weakened. With one in 13 New York City jobs tied directly or indirectly to the securities industry, the pace of change in the sector remains closely watched.
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