Wall Street bonuses tied to New York City rose to record levels in 2025, New York state Comptroller Thomas DiNapoli said, as profits climbed and major equity indexes posted strong gains despite market pullbacks during the year. DiNapoli estimated the average bonus for securities industry employees who work in New York City rose to about $246,900 in 2025—up 6% from the prior year, or nearly $15,000 higher. He also estimated a record $49.2 billion bonus pool for 2025.
In his estimate, DiNapoli linked the increase to stronger Wall Street profitability during the year. DiNapoli said Wall Street profits rose by more than 30% to $65.1 billion last year, and he said the bonus increases reflect strong performance that continued for much of 2025. In a prepared release, DiNapoli said: “Wall Street saw strong performance for much of last year, despite all of the ongoing domestic and international upheavals.”
DiNapoli also described 2025 as a year marked by volatility, with multiple sharp drops in markets at different points. He pointed to worries ranging from President Donald Trump’s tariffs to interest rates to potential risks from a possible artificial-intelligence bubble, even as the year ended with strong results for those invested in broad stock indexes. S&P 500 index funds, which are central to many 401(k) plans, returned nearly 18% in 2025 and set a record high on Dec. 24, according to the comptroller’s report.
Chris Connors, a managing director at the compensation consulting firm Johnson Associates, said the bonus estimates were consistent with trends he saw in Wall Street. Connors said in an interview that “I think 2025 was a great year, probably the best year since 2021 for many firms on Wall Street. Trading, in particular, had an exceptional year,” describing the environment that supported higher pay levels.
Connors added that bonuses form a significant part of compensation for many professionals in financial services, where pay structures rely heavily on performance incentives. He said the pattern reflected how Wall Street’s compensation practices translate market results into earnings for employees, including traders and other finance workers.
DiNapoli projected that the record bonus payouts would also increase tax revenue. He estimated the higher 2025 bonuses should generate $199 million more in state income tax revenue and $91 million more for New York City compared with the prior year. At the same time, DiNapoli cautioned that his outlook for the financial sector faces risks, citing slower job growth and geopolitical conflicts that “have global repercussions that pose extraordinary risks for the short- and long-term outlook on the financial sector and for broader economic markets.”