The common Wall Avenue bonus fell barely final 12 months to $176,500March 19, 2024, 5:05 AM ET• 2 min readNEW YORK — The common Wall Avenue bonus fell barely final 12 months to $176,500 because the trade added staff and took a “extra cautious method” to compensation, New York state’s comptroller reported Tuesday.The common bonus for workers in New York Metropolis’s securities trade was down 2% from $180,000 in 2022. The slight dip got here at the same time as Wall Avenue income had been up 1.8% final 12 months, in accordance with the annual estimate from Thomas DiNapoli, the state’s comptroller.DiNapoli’s workplace stated the slight decline may very well be attributed to the compensation method as extra staff joined the securities trade.Final 12 months, the trade employed 198,500 individuals in New York Metropolis, which was up from 191,600 in 2022.For 2023, the bonus pool was $33.8 billion, which is essentially unchanged from the earlier 12 months.The common Wall Avenue bonus hit a document excessive $240,400 in 2021, in comparison with a relative low of $111,400 in 2011.Wall Avenue is a serious supply of state and metropolis tax income, accounting for an estimated 27% of New York state’s tax collections and seven% of collections for town, in accordance with the comptroller.“Whereas these bonuses have an effect on revenue tax revenues for the state and metropolis, each budgeted for bigger declines so the influence on projected revenues ought to be restricted,” DiNapoli stated in a ready assertion. “The securities trade’s continued energy mustn’t overshadow the broader financial image in New York, the place we want all sectors to get pleasure from full restoration from the pandemic.”