Wall Street bonuses take a hit as profits fall

Pedestrians pass in front of the exterior of the New York Stock Exchange (NYSE) in New York.
Scott Eells | Bloomberg | Getty Images

Wall Street bonuses fell in 2015 along with the industry's profits.

Bonuses dropped 9 percent for the year as total industry profitability declined 10.5 percent, according to a report from New York state Comptroller Thomas DiNapoli.

On average, Wall Street employees took home bonuses last year of $146,200, down from 2014's average payout of $160,280. The decline reflected the difficult market conditions of 2015, when industry profits slipped by $1.7 billion, according to the report.

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"Wall Street bonuses and profits fell in 2015, reflecting a challenging year in the financial markets," DiNapoli said. "While the cost of legal settlements appears to be easing, ongoing weaknesses in the global economy and market volatility may dampen profits in 2016. Both the state and city budgets depend heavily on the securities industry and lower profits could mean fewer industry jobs and less tax revenue."

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