Wall Street is on pace for one of its most profitable years, with first-half 2025 earnings reaching $30.4 billion — a 30.7% jump over the same period last year, according to a new report from State Comptroller Thomas P. DiNapoli.
If the trend continues, full-year profits could top $60 billion, beating 2024’s total of $49.9 billion. This spike in earnings is expected to significantly boost state and city tax revenues.
Higher trading volumes, AI-driven dealmaking, and fee income helped drive the gains, even as markets faced volatility from tariffs and global economic uncertainty. Employment in the securities industry remains high, though preliminary 2025 figures show a slight dip of about 3,000 jobs.
New York’s securities workforce reached a record 201,500 jobs in 2024. Though the city’s share of national securities jobs is shrinking, it still leads the country. The average salary in the industry, including bonuses, climbed to over $500,000 in 2024 — nearly five times the average across other private-sector jobs in the city.
Bonus payments also hit a record, with the 2024 bonus pool reaching $47.5 billion. First-half 2025 compensation data suggests this year’s bonus figures may rise even further.
Tax revenue from the industry remains critical. In FY 2025, it generated an estimated $6.7 billion for New York City and $22 billion for the state. Most of this came from personal income taxes, fueled by high wages and bonuses.
The industry accounted for nearly 18% of New York City’s economic output in 2023. DiNapoli’s office expects that number to grow when newer data is released.
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