Average Wall Street bonuses dipped 26% to $176,700 last year

NEW YORK (AP) — Average Wall Street bonuses dropped sharply last year to $176,700 amid lagging profits and recession fears. New York state’s comptroller reported Thursday that bonuses for employees in New York City’s securities industry dropped 26% from 2021, when the average was $240,400. Comptroller noted that bonuses returned to pre-pandemic levels last year. The securities industry has a significant effect on state and city tax revenue, accounting for an estimated 22% of the state’s tax collections and 8% of collections for the city.