Wall Street bonuses
ALBANY: Average Wall Street bonuses were down nine per cent last year to $146,200 as industry profits declined, New York’s comptroller reported on Monday. Industry-wide profits decreased by 10.5 per cent, according to the annual estimate from State Comptroller Thomas DiNapoli. The comptroller said revenues were weak, especially from trading and underwriting. Profits were at their lowest reported level since 2011. Pre-tax profits for the broker/dealer operations of New York Stock Exchange member firms declined by about $1.7 billion to $14.3 billion last year. While the first half of the year was strong, the industry reported a loss of $177 million in the fourth quarter. It was the first quarterly loss since 2011.