(Bloomberg) -- The average Wall Street salary rose 13 percent last year to its highest level since 2008, when Lehman Brothers Holdings Inc. collapsed.
Annual pay, including bonuses, in New York City's securities industry rose to $422,500 on average in 2017, New York State Comptroller Thomas P. DiNapoli said in a report Monday. Salaries gained as pretax profits rose 42 percent to $24.5 billion last year. In the first half of 2018, the earnings totaled $13.7 billion, up 11 percent from a year earlier, he said.
“Wall Street has profited every year since the end of the recession in 2009, and compensation last year reached its highest point since the financial crisis,” DiNapoli said in a statement. “The momentum from last year's dramatic rise in profits has carried into 2018 and the industry is on track for another good year absent a setback later in the year.”
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--With assistance from Jenny Surane.
To contact the reporter on this story: Claire Ballentine in Southfield at cballentine@bloomberg.net
To contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, Daniel Taub, Vincent Bielski
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