The Big Apple is still the place to be if you want an outsize bite of banker bonus bonanzas. That, at least, is one of the conclusions to be drawn from New York State Comptroller Thomas DiNapoli's latest annual report on Wall Street pay. Securities industry compensation in general looks pretty flat. Yet DiNapoli's tax statistics reveal that New Yorkers working in the finance business took home an average of 15 percent more in incentive-based pay in 2013 than they did the previous year. That may come as a surprise to those looking at other sources on pay. Financial firms' annual earnings released in January, for example, tell a different story. Total pay and benefits at Goldman Sachs' and at JPMorgan's and Morgan Stanley's investment banking and trading operations actually fell from between 2.2 percent and 4.2 percent. And DiNapoli himself points out that the broker/dealer operations of New York Stock Exchange member firms —his "traditional measure" of the health of the securities industry
↧