Bankers are making it rain on Wall Street, thanks to a record-breaking bonus season. The securities industry’s bonus pool reached $47.5B in 2024, jumping 34% from the previous year. This windfall comes on the heels of a 90% increase in securities industry profits, setting new benchmarks that haven’t been approached since the pre-pandemic era.

• The average bonus climbed to $244.7K per employee, representing a 31.5% increase from 2023 — roughly three times higher than the median US household income of $80.6K.
• Employment in New York’s securities sector hit a 30-year peak with 201.5K workers — with 2025’s bonuses alone set to earn an added $600M in state tax revenue.

Empire state of worry: Despite the celebratory atmosphere, New York State Comptroller Thomas DiNapoli warned that “increasing uncertainty in the economy amid significant federal policy changes may dampen the outlook for parts of the securities industry in 2025.” This cautionary note comes as President Trump’s chaotic tariff implementation and controversial policies create economic turbulence, with the S&P 500 down 3% over the past month. With major firms like Goldman Sachs and Citigroup announcing restructurings, the current bonus bonanza could prove short-lived as market volatility continues to challenge even the most seasoned financial professionals.