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Wall Street pay just hit a record high
Wall Street pay exploded last year to a record high.
Average salaries, including bonuses, grew by 14% in 2014 to $404,800, according to a new report from New York State Comptroller Thomas DiNapoli.
After inflation, pay in 2014 was the third highest on record.
The average Wall Street salary was nearly six times that of the rest of New York City's private sector, where the average salary was $72,300 last year.
(New York State Comptroller)
Bonuses were similar to their levels before the 2008 financial crisis.
The average bonus, up more than 50% over the past three years, was $172,900 last year, according to the report. The only years bonuses were higher were the two years leading up to the financial crisis.
Here's another way to conceptualize how much Wall Streeters get paid: Though the finance industry accounts for less than 5% of the New York City's private-sector workforce, it accounts for 22% of all wages paid in the city.
(New York State Comptroller)
As Business Insider reported earlier this year, the average bonus in 2014 was up 2% from the year before, and the bonus pool itself was up 3%.
Here's a look at how Wall Street bonuses have exploded since 1986, from a March 2015 comptroller report:
(Office of the Comptroller of New York State)
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