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Financial Times — World — Wall Street bonuses — Remuneration — Us Banks — Bank Bonuses

Wall Street bonuses tumbled 26% last year amid dealmaking slump

Wall Street bonuses fell 26% to $176k on average last year, the largest drop since 2008, due to higher interest rates, recession fears and the war in Ukraine. Despite the drop, financial industry pay did not drop as much as some key businesses.

1 min read
  • Wall Street bonuses fell 26% to $176k on average last year, the largest drop since 2008.
  • Higher interest rates, recession fears and the war in Ukraine were blamed for the drop.
  • Financial industry employment in NY rose 6% last year to the highest level in over 2 decades.
  • Despite the drop in bonuses, financial industry pay still did not drop as much as some of the industry’s key businesses.
  • Wall Street is taking a tougher approach to cost-cutting this year, including workforce reductions.
Wall Street bonuses tumbled 26% last year amid dealmaking slump
New York state comptroller blames higher rates and Ukraine war for biggest drop in payouts since financial crisis
Financial TimesStephen Gandel

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