Wall Street bonuses surge 9% to record US$49.2 billion in 2025, NY comptroller says
BNN Bloomberg
Bonuses for Wall Street executives jumped nine per cent to a record US$49.2 billion in 2025, according to an estimate from New York State Comptroller Tom DiNapoli published on Thursday.
The average bonus climbed six per cent to $246,900 as dealmakers, traders and wealth managers were buoyed by strong trading, underwriting and management fees, even as geopolitical uncertainty and tariffs roiled markets. The securities industry’s profits surged more than 30 per cent to $65.1 billion, according to the state’s estimate.
“Wall Street saw strong performance for much of last year, despite all of the ongoing domestic and international upheavals,” DiNapoli said in a statement. “When Wall Street does well, it’s good for our state and city budgets, which are reliant on the industry’s significant tax contributions.”
Wall Street accounts for more than 19 per cent of New York state’s tax collection.
The financial industry is seeing slower job growth. Preliminary data indicate a small decrease in the number of employees last year to 198,200 from a 30-year high of 201,500 in 2024. Headcount data is likely to be revised higher for 2025 to reflect modest growth, the comptroller added.
The average annual salary in New York’s securities industry rose 7.3 per cent to $505,677 in 2024, including bonuses, which represent around 42 per cent of total wages.
Two Canadian institutional giants are buying renewable power producer Boralex Inc. in a deal that they say will provide the scale and resources needed to accelerate growth.
Canada’s main stock index was up nearly 300 points in late-morning trading, helped by strength in the base metals and utilities sectors, while U.S. stock markets also climbed.
Muted reaction to U.S.-Iran talks reflects fragile sentiment as recession risks rise and bond yields climb amid ongoing geopolitical uncertainty.
Aecon Group Inc. says a joint venture has finalized a US$691-million contract with the U.S. Army Corps of Engineers for a project in Washington state.
U.S. corporate finance chiefs’ outlook for the economy improved over the first months of the year, at least until the outbreak of the U.S.-Israeli war on Iran, with executives expecting to increase employment amid solid revenue growth, though with continued pressure as well to raise prices, according to a Federal Reserve survey.
U.S. suppliers have shipped approximately 30,000 barrels of fuel to Cuba’s private sector this year to date, according to documents and shipping data viewed by Reuters, suggesting a Trump administration plan to give private business a leg up over state-run enterprise is well underway.
Mining analyst sees copper, gold and lithium stocks benefiting from supply constraints, electrification and long-term demand trends.
An oil refinery fire near the Texas coast was put out Tuesday and a shelter-in-place order was lifted following air-quality testing, hours after a large explosion at the complex shot plumes of smoke into the air, officials said.
A U.N. Security Council resolution calling for countries to use “all necessary means” to keep the Strait of Hormuz open is facing some opposition for raising the possibility of U.N.-backed military action against Iran, according to three council diplomats.
The Trump administration is working with Canada on permits required for a proposed revival of part of the Keystone XL oil pipeline, a White House official said on Tuesday.
Google is arguing it shouldn’t have to pay about $370,000 in legal fees and other costs the Competition Commissioner is seeking after the tech giant lost a constitutional challenge.
Canadian officials spoke to Trump administration representatives about a proposed revival of part of the canceled Keystone XL oil pipeline in a meeting in Houston this week, Canada’s Natural Resources Minister Tim Hodgson said Tuesday.
Oil above US$100 is adding pressure on equities as geopolitical risks and uncertainty over inflation and growth cloud the outlook.