The New York Times reports that the report showed that total compensation on Wall Street last year rose 4%, to more than $60bn. That was higher than any total except those in 2007 and 2008 - before the financial crisis fully took its toll on pay.
The average pay package of securities industry employees in New York State was $362,950, up 16.6% over the last two years.
Bloomberg reports, however, that Wall Street’s cash bonus pool is likely to fall for a second straight year as the financial industry grapples with market turmoil, economic weakness and new rules, DiNapoli said.
Revenue and compensation trends have 'edged downward' since February, when DiNapoli estimated that the 2011 pool for Wall Street declined by 13.5% to $19.7bn, the comptroller said.
'Based on those trends, the total cash bonus pool for work performed in 2012 is likely to decline for a second year in a row', DiNapoli said in a statement.
The last time the pool shrank for two consecutive years was in 2007 and 2008, at the beginning of the global financial crisis, according to the comptroller’s office.
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