DiNapoli said Wall Street accounted for 19% of the state’s tax collections in the fiscal year that ended in 2024, and 7% of city tax revenue. The bonus spike was projected to generate $600 million more in state income tax revenue and $275 million more for New York City revenue when compared to 2023, according to his calculations.

Average bonuses paid to New York City executives were up 31.5% over last year, according to a report from Comptroller Thomas P. DiNapoli.

Wall Street bonuses hit a record $244,700 average last year, jumping 31% from the $186,100 in 2023, according to an analysis published March 26 by Thomas P. DiNapoli, the state comptroller. The bonus pool for the city’s securities industry employees also totaled a record at $47.5 billion.