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Wall Street Bonuses Hit Record $250,000 Average

Source: wsj.com

Wall Street bonuses hit a record average of nearly $250,000 in 2023, driven by strong dealmaking.
Top earners at bulge-bracket banks received up to $1.5 million, boosting total payouts to Wall Street firms.
High bonuses signal banking recovery but raise concerns over income inequality amid uneven industry gains.

Wall Street banks paid out record bonuses last year, with the average nearing $250,000 across major firms. This reflects a rebound in mergers, stock trading, and debt markets after tough pandemic years. The report from Johnson Associates highlights who got paid what and why, showing how dealmakers and traders led the surge. It matters because these payouts reveal the finance industry's health and fuel debates on pay gaps in a shaky economy.