Reports

See Audits to search for audits related to State agencies, NYC agencies, local governments, school districts and public authorities.

Wall Street

October 2021 —

Wall Street’s run of prosperity extended into the first half of 2021 with $31 billion in pre-tax earnings, beating 2020’s outsized first half profits of $27.6 billion. Despite continued strong profitability, employment in the industry in New York City has sagged, even as it has ticked upward in the rest of the nation. Average salary, including bonuses, reached $438,000, the highest of any industry and nearly five times higher than the average in the rest of the private sector.

Wall Street

March 2021 —

The average bonus paid to employees in New York City’s securities industry grew by 10 percent in 2020 to $184,000, in line with the city’s most recent 9.9 percent projection, likely allowing the city to meet or exceed its income tax revenue projections in FY2021.

Wall Street

October 2020 —

The COVID-19 pandemic has significantly impacted the securities industry in New York City, affecting both operations and profitability.

Wall Street

March 2020 —

The average bonus paid to employees in New York City’s securities industry increased by 3 percent in 2019 to $164,100, but it is likely to fall sharply in 2020 as the coronavirus crisis strains industry profitability.

Wall Street

October 2019 —

Despite slower global economic growth and trade tensions, pretax profits for the securities industry grew by nearly 11 percent in the first half of 2019, reaching $15.1 billion, the best first half in a decade.

Wall Street

March 2019 —

Securities industry profits in 2018 were 11 percent higher than the previous year, but the average bonus paid to industry employees in New York City declined by almost 17 percent to $153,700.

Wall Street

September 2018 —

Securities industry pretax profits grew by 42 percent in 2017 on higher revenue from core activities. That momentum has carried into 2018, with profits rising by 11 percent during the first half of 2018.

Wall Street

March 2018 —

Securities industry profits rose dramatically in 2017 for the second consecutive year and the average bonus paid to industry employees in New York City jumped 17 percent to reach $184,220.

Wall Street

October 2017 —

Since the 2008 financial crisis, New York City’s economy has become more diversified and less dependent on the securities industry.

Wall Street

March 2017 —

Securities industry profitability rose sharply in 2016, increasing by 21 percent, while the average bonus paid to employees in New York City’s securities industry increased by 1 percent to $138,210.

Wall Street

October 2016 —

The role of the securities industry in New York City’s economy has changed since the financial crisis. The industry is smaller after shedding 8 percent of its jobs since 2007, while the rest of the City’s private sector has grown by 17 percent.

Wall Street

March 2016 —

The average bonus paid in New York City’s security industry declined by 9 percent to $146,200 in 2015 as industry-wide profits declined by 10.5 percent.

Wall Street

October 2015 —

In the seven years since the 2008 financial crisis, regulations designed to increase stability and transparency in the financial system have changed the way the securities industry operates.

Wall Street

March 2015 —

The average bonus paid in New York City's security industry rose by 2 percent to $172,860 in 2014.

Wall Street

October 2014 —

Six years after the financial crisis, the securities industry continues to deal with the fallout. Regulatory reforms are changing the way the industry operates by requiring larger reserves, limiting certain activities and imposing other changes intended to reduce unnecessary risk and to enhance transparency.

Wall Street

March 2014 —

The average bonus paid to securities industry employees in New York City grew by 15 percent to $164,530 in 2013, which is the largest average bonus since the 2008 financial crisis, and the third highest on record.

Wall Street

October 2013 —

Five years after the bankruptcy of Lehman Brothers, Wall Street has made an impressive comeback. The industry is adapting to regulatory reforms and other challenges, and has been profitable for four consecutive years (including the three best years on record).

Wall Street

February 2013 —

Cash bonuses paid to New York City securities industry employees are forecast to rise by 8 percent to $20 billion during this year’s bonus season.

Wall Street

October 2012 —

Five years after the beginning of the financial crisis, the securities industry remains in transition. The industry is still working through the fallout from the financial crisis and many business patterns and practices are changing as a result of regulatory, technological and economic factors.

Wall Street

February 2012 —

Cash bonuses paid to New York City securities industry employees are forecast to decline by 14 percent to $19.7 billion during this year’s bonus season.