Wall Street pay report 2017

Spencer
Platt/Getty

The average salary on Wall Street increased last year by 13% to
its highest level since the 2008 financial crisis. 

Annual pay in New York City’s securities industry reached
$422,500 on average in 2017, said the report, which was released on
Monday by the New York state comptroller Thomas DiNapoli.

Wall Street pay rose as profits in the industry grew by 42% to
$24.5 billion in 2017. In the first half of 2018, it reported a
total profit of $13.7 billion, up 11% compared with the same
period a year earlier. 

“The securities industry has been profitable every year since the
recession ended in 2009, and salaries are higher than at any time
since the financial crisis,”DiNapoli wrote in the report. “The
industry is on track for another good year in 2018, barring
unforeseen developments later in the year.”

Notably, the securities industry now has the highest average
salary of any other major industry in New York City, with its
salaries accounting for 21% of all private sector wages paid in
the city in 2017.

Nationwide, the industry has added more than 90,000 jobs in
the span of seven years. It’s set to add another 26,300 jobs in
2018, which would be the largest one year gain since 2007.