Oct 31, 2017
Time for that second home in the Hamptons.
The average banker bonus in 2017 is poised to get fatter for the second straight year, as hopes for deregulation have led to a flurry of trading and underwriting on Wall Street, according to New York State Comptroller Thomas P. DiNapoli.
The upbeat forecasts, which anticipate bonuses will rise 3.8 percent to $143,462, are based on a blazing first half, during which industry profits jumped 33 percent to $12.3 billion, according to government figures.
“After a very successful first six months, Wall Street profits are on track to exceed last year’s level, barring a major fourth-quarter setback,” DiNapoli said in a statement.
That’s despite a mixed year for Goldman Sachs, whose bond-trading revenues plunged 40 percent during the first quarter. Such stumbles have been more than offset, analysts say, by revenues that have surged industrywide as the stock market hits all-time highs.
This article was posted: Tuesday, October 31, 2017 at 8:07 am