State Comptroller Thomas DiNapoli said Wall Street bonuses fall this year by as much as 10 percent from the record $23.9 billion posted in 2006. The average Wall Street salary surged 17 percent last year, to $339,910, and each employee received an average $136,000 in bonuses. But in the third quarter, the city’s seven biggest financial firms reported profit declines of nearly 65 percent from a year ago. Impending job cuts and lower bonuses on Wall Street could hurt the high-end housing market and dampen upscale consumer spending.
City braces for lower bonuses, job cuts
October 31, 2007 02:45PM
