March 27, 2018
The average Wall Street bonus rose 17 percent to $184,220 in 2017, according to a report released on Monday by New York state’s chief fiscal officer.
Experts say the bonuses were fueled by the surge in profits and the new tax bill that passed before the new year.
The securities industry averaged 176,900 jobs in New York City last year, down slightly after three straight years of gains.
But the increase in bonuses were some of the highest the industry has seen since before the financial crisis in 2007.
It’s all-time high for the average Wall Street bonus was in 2006 when it reached $191,360.
Experts warn that while employees should take this as a good sign for a booming economy, it could also hint at future financial trouble like what happened after the bonuses in 2006.
This article was posted: Tuesday, March 27, 2018 at 7:59 am