Wall Street bonuses rise 6%, averaging $247K in 2025 but miss NYC budget plan for a 15% increase

The average Wall Street bonus soared 6% to average $246,900 in 2025 — but fell short of New York City’s 2026 budget under Mayor Zohran Mamdani that was counting on a 15% increase in the average year-end payout, according to data released by state officials on Thursday.The total bonus pool rose 9% from 2024 to $49.2 billion as industry profits jumped more than 30% to $65.1 billion, fueled by strong trading, underwriting, and asset-management fees, according to an annual estimate by New York State Comptroller Thomas DiNapoli.In a Thursday statement, DiNapoli signaled that gains for New York’s financiers are good news for taxpayers because they help bankroll key public services.“When Wall Street does well, it’s good for our state and city budgets, which are reliant on the industry’s significant tax contributions,” he said.Still, it’s a sore disappointment for Mayor Mamdani, who has been planning to milk Wall Street to meet a requirement to close a $5 billion budget gap ahead of the start of the city’s new fiscal year in July.Mamdani is threatening to introduce a wealth tax, raise levies for corporations and hike property taxes.Gov.

Kathy Hochul, who once called for New York’s uber-wealthy “to jump on a bus” for Florida, has been forced into an embarrassing U-turn after she last week urged them to return and help fix its shrinking base.The Post has previously reported how Texas and Florida are looking to tempt Wall Streeters away with the promise of lower taxes and a better standard of living.DiNapoli’s data shows that the city’s share of finance jobs nationwide stands at just shy of 18%, with 198,200 people directly employed in the sector, compared to a 30-year high of 201,500 the year before.DiNapoli said it is down from roughly one-third in 1990, but it is still higher than in any other state.“When we talk about growth happening more rapidly in other parts of the country, that’s concerning, but it does not signal the end of New York (...