Wall Street bonuses fell 17% in 2018. This was partially due to changes in the federal tax code.
The average bonus for New York City securities industry professionals fell from $184,400 in 2017 to $153,700 last year.
Wall Street booked a record profit of $27.3 billion in 2018, yet the average bonus of New York City securities professionals fell 14%, according to a report released Tuesday by the city's comptroller. The drop in the size of the average bonus was driven in part by changes in the federal tax code which encouraged some firms to move up payments to December 2017 rather than pay employees in January 2018. The effect of this could have contributed to the decline in 2018, according to the Office of the Comptroller.
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