Wall Street Salaries Fall Further From Pandemic Heights

Profit Bump

According to the report, pretax profits of broker dealer operations of New York Stock Exchange members reached $23.2 billion in the first half of 2024, a near 80% increase on the prior year. The profit bump should swell bonuses by 7.4% this year, the report said.

Employment in the securities industry continued to grow in New York state last year, reaching 214,900 jobs — an increase of 15,600 from the 2019 pre-pandemic total.

And while New York remains the nation’s financial hub, with twice as many securities industry jobs as California last year, employment has grown at a slower pace than other parts of the country.

Employment in New York’s securities industry rose by 7.8% from 2019 through 2023, significantly lower than other states such as Texas, at 26.6%, and Utah, with the nation’s highest, at 40.5%.

(Credit: Bloomberg)