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Wall Street bonus jumps 20% in 2021

by Mike Robinson

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© Reuters. FILE PHOTO – Raindrops are displayed on the New York Stock Exchange sign in Manhattan, New York City. This is October 26, 2020. REUTERS/Mike Segar

(Reuters] – In 2021 New York City, the average bonus given to workers in New York City’s Securities Industry jumped by 20%, to $257,000. This was according to a New York state regulator.

According to Thomas DiNapoli (New York State Comptroller), Wall Street’s skyrocketing profits continue to exceed expectations for 2021, and led record bonuses.

He said that recent events were likely to make near-term profitability less attractive and lower bonuses, noting slow recovery in other industries and Russia’s invasion Ukraine.

According to the report, 2021’s bonus pool grew by 21% to $45 Billion during the traditional December-March bonus period, compared with $37.1 billion for 2020.

Johnson Associates Inc, a compensation firm, announced in November that the year-end bonuses in Wall Street for Wall Street employees in 2021 would be the largest since 2009. Investment bankers and equity traders will receive the greatest bonuses.

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