- Employment in the Financial Industry in New York It reached the highest level in three decades in more than 200,000 workers, I mentioned State Observer Thomas Denaboli on Wednesday. In addition to the high workers in the sky, the total number of bonuses is 2024 among the New York Stock Exchange companies is the largest ever since 1987. But the uncertainty that is waving on the horizon due to federal policy is to distort industry forecast for 2025.
Wall Street behind The profits rise. According to a new report, they are rewards.
The State Observer in New York, Thomas B. Denaboli on Wednesday that the annual wealth of the Wall Street employees – achieved a new record worth $ 47.5 billion in 2024, an increase of 34 % over the previous year. The reward container has not even deviated near this level since 2021, when the total swollen to 42.7 billion dollars, before declining to 33.9 billion dollars in 2022.
The Financial Observer Office publishes an annual estimate of Business batches For those workers in the stock industry based on the directions of blocking personal income tax and paid cash rewards. The average bonus deposit, which represents for those who are at the entry level to those who had panoramic views of the corner offices, was 244,700 dollars, Denaboli found. A year ago, the average payment was 186100 dollars. 131 companies of the stock exchange members in New York Profits 90 % rose in 2024, observer I mentioned.
“The high -reward record set reflects the very strong Wall Street performance in 2024,” Dianaboli said in a statement. “This financial market strength is good news for the New York economy and our financial position, which depends on the tax revenues it generates. However, the increased uncertainty in the economy amid changes in large federal policy may be confused in the expectations of parts of the stock industry in 2025.”
The definitions have won the starring role between many changes in the policy implemented by the Trump administration, as it rocked the main market average with uncertainty and volatility. The S&P 500 decreased by 3 % last month and 1.5 % years so far. One of the successive effects of these changes in federal policy – and the existence Timing CEO Elon Musk in Washington, DC, resulted in pressure on Dianaboli. As an observer, Dinapoli is supervised by $ 270 billion in the state PensionerWho holds a stake in Tesla worth more than $ 800 million. A group of 23 members of the Democratic Senate Urging Financial observer this month Abstraction From the analgesic auto industry company.
According to the twentieth members of the state’s Senate who contacted Dinaboli, Tesla’s share is the seventh largest holding in the box, and it is in danger while musk is CEO.
“Musk’s actions that prompted the head of government efficiency Donald Trump have resulted in the deterioration of the company’s reputation among its most loyal customers,” says the letter, signed by Senator Patricia Fahi and 22 Senate members.
Tesla did not immediately respond to a request for comment.
Meanwhile, traders, supervisors, analysts and governor managers in New York have a seat in the front row of volatility. The profitable industry, with an average annual salary from 471,000 dollarsIt helps in the formation of the beating heart of New York City, with 69 % of employees residing in one of the five neighborhoods. More than a quarter of the population of New York City, who work in securities and financing, get more than $ 250,000 a year. Likewise, more than half of the passengers from the Witchester Province and 41 % of Long Island passengers who work in securities get more than $ 250,000 a year, according to work figures in New York State.
DINAPOLI stated that one in every 11 jobs in New York City is somehow linked to the securities industry, and that the state derives 19 % of the tax groups from it. The 20024 bonus container will increase $ 600 million of income tax this year, and an additional part of the change of $ 275 million will go to New York City treasures in 2024 compared to 2023. The employment of the stock industry is the highest in about 30 years with 201500, in contrast to 198,400 in the previous year. The financial observer stated that the matter is higher than any other state.
However, while New York City is proud of the largest number of securities industry jobs in the United States, the number has decreased constantly Since the nineties, according to work data. In 1990, a third of all stocks in New York City, compared to 17.4 % in 2024. While New York State added 15,600 jobs in the stock industry between 2019 and 2023, Texas exceeded by adding 19,400 jobs. Florida added 13300 jobs during the same period.
It should also be noted that the major financial companies, including Goldman Sachs and Citigroup It announced the cuts in jobs and restructuring, which can affect the number of employees in the state’s securities industry.
This story was originally shown on Fortune.com
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