> Wall Street Pays Record Bonuses, Nearing $250,000 on Average, but short of what Zohran Mamdani had planned

Securities industry employees in the city received an average bonus of $246,900 for 2025, an increase of 6% from a year ago, according to new estimates from New York State Comptroller Thomas DiNapoli.

But that figure, a key source of tax revenue, fell well short of the city’s expectations. Projections for the city’s fiscal 2026 financial plan assumed an increase of 15%.

New York Mayor Zohran Mamdani had been counting on Wall Street taxes as he faces an over $5 billion budget shortfall that he is required to close before the start of the city’s new fiscal year in July.

Bonus season on Wall Street is expected to generate about $199 million more in state income tax revenue and $91 million more in city revenue compared with a year earlier, according to DiNapoli.