ALBANY, N.Y. (AP) — New York state’s top elected fiscal officer is set to release his annual estimate of the bonuses paid to Wall Street’s securities industry employees.
Comptroller Thomas DiNapoli (dee-NAP’-oh-lee) says he’ll release the figures for 2017 on Monday.
The annual accounting of bonuses paid to the securities workers serves as an indicator of how the financial services industry is doing. It also gives city and state tax collectors an idea of how much to expect from taxes on the billions of dollars in bonuses Wall Street brokerage firms pay employees.
Pretax profits for the broker and dealer operations of New York Stock Exchange member firms, the traditional measure of industry profitability, topped $17 billion in 2016. According to the comptroller’s office, the average Wall Street bonus that year was $138,000.