The average bonus paid out to New York City securities industry employees in 2016 was $138,210, according to a statement from the New York State Comptroller Thomas DiNapoli.
That’s up 1% from the average 2015 bonus, according to the statement.
DiNapoli’s office estimates the bonuses based on income tax trends, and includes both current-year cash bonuses and deferred bonuses from previous years that are cashed in, but does not include stock options.
The total 2016 bonus pool for the December-March period was up 2%, reaching $23.9 billion, DiNapoli said.
Securities industry profitability, meanwhile, jumped 21% for the year, with lower costs compensating for a continued decline in revenues, according to the statement. Revenues were up 8% during the second half of the year – not enough to offset the 9% decline in the first half of the year.
The industry added jobs in New York City for the third year in a row – about 3,800, making the total 177,000. That’s the highest annual level since the financial crisis, DiNapoli said, although the total number of securities industry jobs in the city is still lower than 2007.
As for total salary for New York City securities professionals, including bonuses, that was $388,000 in 2015 – the latest data available.