Wall Street bonuses topped $20bn last year, rising 17 per cent from 2008 as US banks emerged from their worst downturn in decades.
The banking industry's profits are likely to have exceeded $55bn, almost three times the previous record, as shares rallied and debt markets reopened, according to a report yesterday by Thomas DiNapoli, the New York State comptroller.
The average taxable bonus rose to $123,850, the report showed, a figure that could fan public anger over bankers' pay. For many employees at Goldman Sachs, JPMorgan Chase and other banks with large New York operations, however, the annual bonus payouts were well below the highs set in 2007 before the worst of the global financial crisis.
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