Bonuses for Wall Street Bankers Drop Most in 4 Years

But workers are still getting $146K
By Jenn Gidman,  Newser Staff
Posted Mar 8, 2016 8:11 AM CST
Bonuses for Wall Street Bankers Drop Most in 4 Years
This July 16, 2013, file photo, shows a Wall Street street sign outside the New York Stock Exchange.   (AP Photo/Mark Lennihan, File)

For Wall Street bankers, 2015 didn't turn out as well as it usually does in terms of bonuses. Per Bloomberg, the average bonus fell 9% last year to $146,200, which is the largest decrease since 2011, according to estimates by NYS Comptroller Thomas DiNapoli. As the Washington Post notes, 2015's bonuses were larger than those during the Great Recession, but smaller than those in 2006, which saw a record-high average of $191,360.

The Post also speculates that 2016 isn't going to improve much on that, with state officials anticipating a decline in the overall bonus pool—last year's was $25 billion—of about 2.5% this fiscal year. "Wall Street bonuses and profits fell in 2015, reflecting a challenging year in the financial markets," DiNapoli says in a press release. "While the cost of legal settlements appears to be easing, ongoing weaknesses in the global economy and market volatility may dampen profits in 2016." (Too bad we don't all work for Facebook in the UK.)

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