Wall Street bonus pot surges to record-high $47.5 billion, but the outlook is dim 

• Work in the Securities industry in New York reached the maximum level of three decades of more than 200,000 workers, reported State Comptroller Thomas Dinapoli on Wednesday. And with Sky-High employment, the total estimated 2024 bonus pool Act New York Stock Exchange Stock Federal Stack Exchange since the industry policy for 2025.

Wall Street behind and the profit is raging. And according to a new report, so are the bonuses.

New York State Comptroller Thomas P. Dinapoli reported on Wednesday that Wall Street’s annual wealth for employees with 324, an increase in the year before. The bonus pot was not written at least at this level since 2021, if the total drives $ 42.7 billion, before the end of $ 33.9 billion in 2022.

The Comptoller office prints an annual estimate of Bonus Payouts For those used in the Industry Securities based on personal tax control and cash bonus. The Average Bonus Deposit, account for the level of entry to all people with the sights of the alley offices, $ 244,700 found Dynapoli. One year ago, the average payment is $ 186,100. The 131 New York Stock Exchange Member are fixed ‘ profits Rose 90% of 2024, the comptroller reported.

“Record High Bonus Pool reflects very powerful achievements on Wall Street in 2024,” Dynapoli said in a statement. “This financial market strength is good news for New York’s economy and our fiscal position, which relies on the tax revenue it generates. However, increasing uncertainty in the economy amid significant the Outlook for Parts of the Securities industry in 2025.”

The tariffs claimed a star paper in many policy changes implemented by the Trump administration, with many market management reluctant and disgust. The S & P 500 has fallen 3% last month and 1.5% year to date. One of the cascade effects of federal policy changes – and the presence of Tesla CEO Elon musk in Washington, DC-has resulted in pressure in Dinapoli. As the comptroller, Dinapoli manages $ 270 billion in state Retirement fundholding a stake in Tesla worth over $ 800 million. A group of 23 Democratic State Senators instinct the comptroller this month of alone from the automatic musk holider.

According to two dozen state senators reached by Dinapoli, Tesla Stake is the seventh largest grip, and it is dangerous while Musk seriously.

“Musk actions leading the department of the Department of Vix of Government of Government (DOGE) carried a loyal customers,” signed the Senator Patriala letter.

Tesla does not immediately respond to a request for commentary.

Meanwhile, merchants, supervisors, analyzes, and New York portfolio managers have a seat in front of the room. The useful industry, with an average annual salary of $ 471,000helps make the heart beat in New York City, with 69% of employees living in one of five boroughs. Over a quarter of New York City residents who work in securities and finances make more than $ 250,000 a year. Similarly, more than half of commuters from Westchester County and 41% of commuters from Long Island working more than $ 250,000 State Labor numbers.

Dinapoli reported that one of 11 jobs in New York City despite being linked to the Security industry, and the state gained 19% of its tax collections. The 2024 bonus pot has an additional $ 600 million tax on this year’s income, and industry staff worth the year 20124. It is higher than any state, the comptroller reported.

However, while New York City boasts the maximum industrial industry in the US industry, the number falls On consistent Since ’90s, according to labor data. In 1990, a third of all security jobs were in NYC, compared to 17.4% in 2024. Florida added 13,300 jobs at the same time.

Also worth noting, big financial companies including Goldman Sachs and Citigrouup Employment cuts are announced and changes, which may affect the state’s heading industry.

This story originally shown Fortune.com

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