Wall Street Bonuses Hit Record $47.5 Billion in 2024, Average Payout Soars 31.5%

Profits surged 90% last year, driving historic bonuses, but concerns over federal policy changes and job cuts cloud the industry's 2025 outlook.

The average Wall Street bonus for 2024 reached $244,700, a 31.5% increase from 2023, marking the highest average since records began in 1987.
The total bonus pool for New York City's securities industry hit a record $47.5 billion, fueled by a 90% rise in profits to $49.9 billion last year.
Employment in the securities industry climbed to a three-decade high of 201,500 workers, with the sector contributing significantly to state and city tax revenues.
New York City's share of national securities jobs has declined to 18% in 2024 from 33% in 1990, as states like Texas and Florida gain prominence in the sector.
Economic uncertainty and federal policy changes, along with job cuts at major firms like Goldman Sachs and Citigroup, pose risks to the industry's trajectory in 2025.