Culture, Economy & Business

Wall Street Bonuses Surge to All-Time High

Sky-high bonuses were justified by record-breaking dealmaking activity, driven by the SPAC boom and record M&A as companies scrambled to take advantage of the twilight of ZIRP, which resulted in an extremely profitable year for investment banks. What’s more, the figures released by the New York State Comptroller don’t take into account stock options and other types of non-cash compensation.

NY State Comptroller Thomas DiNapoli said that bonuses in 2021 exceeded expectations, which is great news for the tax base of both NYC and NYS.

“Wall Street’s soaring profits continued to beat expectations in 2021 and drove record bonuses,” DiNapoli said. Read more…

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