Wall Street bonus up 2 pc in 2016 to US$138,210

Payouts still running below levels before 2008 global financial crisis

PUBLISHED : Thursday, 16 March, 2017, 12:48am
UPDATED : Thursday, 16 March, 2017, 12:48am

The average Wall Street banker bonus came to slightly more than US$138,000 in 2016. That’s according to data from the New York State Comptroller’s Office.

The major banks set aside US$23.9 billion for bonuses in 2016, or US$138,210 per worker, up 2 per cent from a year earlier. Bonuses remain well below the levels they were in their heydays before the financial crisis, when the average bonus was US$191,360.

While most Wall Street bankers make a salary, the vast majority of their compensation comes in the form of annual bonuses.