That’s how much the average Wall Street bonus was in 2024. The figure marks a 31% increase from $186,100 the prior year, according to a report from the New York state comptroller’s office.
Wall Street bonuses have an outsized impact on New York City’s economy and workers. They often make up a large chunk of annual compensation for employees at financial firms and are a sizable source of the city’s income tax revenue.
In 2023, Wall Street was behind about 18% of all of New York City’s economic activity. The comptroller’s office estimates that the 2024 bonuses will generate $600 million more in revenue from state income tax and $275 million more for the city compared to the prior year.