Wall Street bonus rises in 2014

The average Wall Street bonus rose by 2 percent to 172,860 dollars in 2014, the highest level since the financial crisis.

The industry, meanwhile, added 2,300 jobs in New York City in 2014, the first year it witnessed job increases since 2011.

According to an estimate released this week by New York State Comptroller Thomas P. DiNapoli, the security industry reported that pre-tax profits for the broker/dealer operations of New York Stock Exchange member firms totaled 16 billion dollars in 2014.

After years of downsizing, securities industry employment in New York City increased by 1.4 percent to 167,800 workers, and the job gains continued into January 2015.

Each new job in the securities industry leads to the creation of two additional jobs in other industries in the city.

Although the security industry is smaller, it is one of New York City's most powerful economic engines. The industry accounted for almost 21 percent of all private sector wages paid in New York City in 2013, even though it took up less than 5 percent of the city's private sector jobs.

"The cost of legal settlements related to the 2008 financial crisis continues to be a drag on Wall Street profits, but the securities industry remains profitable and well-compensated even as it adjusts to regulatory changes," said DiNapoli. Endite