Average Wall Street bonuses plummeted in 2022 to $176,700

Bonuses now at pre-pandemic levels, after profits started to fall for firms as inflation rose and fears of recessions started to hit

Wall Street bankers might have to start counting their pennies: the average banking bonuses fell 26% last year, leaving the average bonus at “just” $176,700.

After significant boosts during the pandemic, profits started to fall for Wall Street firms in 2022 as inflation rose and fears of recessions started to hit, leaving companies with less leeway for bonuses, according to a report from the New York state comptroller office released on Thursday. Bonuses are now at pre-pandemic levels, reaching a low not seen since 2019.