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Wall Street Bonuses Tumbled 17% In 2018, Unchanged In 13 Years

makeAhistory.comAs extensively documented on this website, 2018 was a disastrous year to forgot for most hedge funds, which suffered another year of underperformance compared to both their benchmark and the S&P500, as most once again failed to generate alpha, resulting in a compensation plunge for the "smartest traders in the room." Alas, as the latest annual report from New York State Comptroller Thomas DiNapoli reveals, 2018 was also a dismal year for broader Wall Street compensation in particular and the securities industry in general, even as overall profits rose by double digits.

In a surprising turn of events, DiNapoli reported that despite securities industry profits in 2018 rising by 11%, the average bonus paid to industry employees in New York City declined by almost 17% to $153,700. This was not only the lowest average bonus since 2015, it matches the average bonus payment received all the way back in 2005. In other words, the average Wall Street bonus has remained unchanged for 13 years, with the peak still the $191,400 hit in 2006 with 2017 coming close at $184,400. Yet despite the lamentations of investment bankers everywhere, the $154K bonus was still double the

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