The average bonus paid to Wall Street traders dipped by more than $30,000 despite a jump of 11 percent in securities industry profits.
The average bonus paid to Wall Street traders dipped by more than $30,000 despite a jump of 11 percent in securities industry profits, according to a report released Tuesday by the comptroller for New York state.
The annual accounting by the state comptroller's office of Wall Street bonuses paid out from December through March serves as an indicator of how the financial services industry is doing. It also gives New York City and state tax collectors an idea of how much to expect from taxes on the billions of dollars in bonuses Wall Street brokerage firms pay employees.
"Profits grew in 2018 and have nearly doubled since 2015," DiNapoli said."Bonuses declined in 2018, but the average bonus was still double the average annual salary in the rest of the city's workforce." Another factor in a lower average bonus for 2018 was the addition of 4,700 jobs in the city's securities industry, meaning the bonus pool was shared by a larger number of employees, DiNapoli said. Securities industry jobs topped 181,000 last year, he said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Here are the Final Four picks of 17 Wall Street titans | Markets InsiderHere are the Final Four picks of 17 Wall Street titans
Read more »
Here are the Final Four picks of 17 Wall Street titansMarch Madness 2019 began Thursday, and Business Insider highlighted the Final Four picks of 17 Wall Streeters participating in Bloomberg's challenge.
Read more »
Wall Street bonuses plunged 17% in 2018Wall Street bonuses fell 17% in 2018. This was partially due to changes in the federal tax code.
Read more »
Wall Street opens lower as global growth fears persistU.S. stocks opened lower on Monday, weighed by technology shares, as investors w...
Read more »
Apple's news service just landed The Wall Street JournalApple has convinced The Wall Street Journal to participate in its forthcoming “Netflix for news” paid subscription news service, per the NYT.
Read more »
Wall Street falls on global growth worriesU.S. stocks fell on Monday, extending the previous session's steep sell-off...
Read more »
Apple launches Netflix for news, with Los Angeles Times, Wall Street Journal participatingBreaking: The Los Angeles Times is joining a new paid subscription news service created by Apple that offers customers who pay a monthly fee access to articles from a selection of publications, many of which are otherwise behind paywalls.
Read more »
Economic worries weigh on Wall StreetThe S&P 500 ended a choppy session slightly lower on Monday as worries about a s...
Read more »
Stock market's fourth-quarter crash and comeback draws comparisons on Wall Street to '87, '95Right now, Wall Street is spending a lot of time debating what year from the past looks most like 2019 – and what that means for the market outlook.
Read more »
Apple's announcements are a game changer for customers, but not Wall Street, Jim Cramer saysJim Cramer explains why the analysts are wrong about Apple's new products and why investors should buy the stock.
Read more »