ALBANY, N.Y. (AP) - New York's state comptroller says Wall Street cash bonuses for 2012 are expected to rise 8% to $20 billion, partly driven by deferred payments from prior years.
Comptroller Thomas DiNapoli (dee-NAP'-oh-lee) says his analysis shows the securities industry is still restructuring since the 2008 financial crisis, with almost 20,000 - or 10% - fewer jobs in New York City.
He says to expect continued downsizing.
DiNapoli says profits for broker/dealer operations of some 200 New York Stock Exchange members - the traditional measure of profitability for the securities industry - totaled nearly $24 billion last year, triple their 2011 earnings.
According to DiNapoli's report, other activities of the large bank holding companies were less profitable last year.
The average salary, including bonuses, rose slightly to almost $362,900 in 2011.
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Friday, May 24 2013 10:44 PM EDT2013-05-25 02:44:03 GMT
The unofficial start of summer is being met with not-so-perfect beach weather. Many beach communities had been hoping for good weather this Memorial Day weekend following the destruction caused by Superstorm Sandy.
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Actress Amanda Bynes was arrested by New York City police after investigating a report of her allegedly smoking marijuana in the lobby of her Midtown Manhattan building.
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Friday, May 24 2013 3:29 PM EDT2013-05-24 19:29:58 GMT
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Thursday, May 23 2013 10:04 PM EDT2013-05-24 02:04:45 GMT
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