Cash bonuses are down across Wall Street. But not for some top execs.
Cash bonuses fell across Wall Street during a challenging 2023, according to a new report, but some bosses were able to buck that trend.
Cash payouts for New York City securities employees dropped by an average of 2% to $176,500, according to estimates released Tuesday by New York State Comptroller Thomas DiNapoli. He attributed that caution to “market volatility” and an influx of younger workers who pulled down the average.
The caution didn’t suppress cash amounts that went to some top executives at Wall Street’s biggest banks. Those bonuses were up for the CEOs of Goldman Sachs (GS), Morgan Stanley (MS), Citigroup (C) and Wells Fargo (WFC), according to recent filings.