Wall Street Pay Seems to Have Long Forgotten Recession

Average salary for those in the NYC securities industry in NYC: $422,500, highest in a decade
By Jenn Gidman,  Newser Staff
Posted Sep 18, 2018 9:20 AM CDT
Wall Street Pay Is Doing A-OK: Report
This Dec. 21, 2016, file photo shows the New York Stock Exchange.   (AP Photo/Mark Lennihan, File)

If you've been fretting over how the folks on Wall Street are doing lately, rest easy: The New York state comptroller says they're fine. Better than fine, actually, per Thomas DiNapoli, who notes the average securities-industry salary in New York last year rose 13%, to $422,500 (with bonuses factored in), report CBS News and Fortune. And those bonuses spiked, too, achieving a 17% increase to reach an average of $184,220. Both benchmarks were the highest since 2008. "Wall Street has profited every year since the end of the recession in 2009, and compensation last year reached its highest point since the financial crisis," DiNapoli says in a release. More interesting tidbits from the comptroller's report on the securities industry: There were nearly 177,000 jobs in that category in New York City in 2017 (also a decade high), and one-third of that workforce was made up of immigrants. (Read more Wall Street stories.)

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