Wall Street bonuses (on average) in 2013 rose 15% to the highest since 2007. As OSC Tom DiNapoli notes [4], "Securities industry employees took home significantly higher bonuses on average... although profits were lower than the prior year." In fact, as we noted earlier, [5] profits at the banks fell 30%.
[6]
Average compensation for securities industry professionals in New York City ($360,700) were 5.2 times greater than the rest of the private sector ($69,200).
[7]
Thank You Ben...
But don't get too excited... The US is not #1 when it comes to bonuses...
Which global financial services centre should you situate yourself in if you work in banking and want to earn a big bonus? Surprisingly perhaps, the eFinancialCareers 2013 bonus survey suggests the answer is the City of London. [8]
[9]
The average bonus in the UK was $98k (£58k) in 2013, according to survey respondents. This compares to an average of $72.9k in the U.S. and just $32.7k and $20.2k in Hong Kong and Singapore respectively.
[10]