Wall Street employees working in securities received an average bonus of $172,860 in 2014, according to a study released Wednesday by the New York State Comptroller.
That's a 2% increase over last year's average bonus, and the highest level since 2007, when the financial crisis began. The total bonus pool came to $28.5 billion.
The study also found that New York City's securities industry added 2,300 jobs in 2014, the first gains since 2011.
Tom DiNapoli, the state comptroller, said the addition of securities jobs also boosted employment in other sectors. He added that Wall Street account for 19% of all taxes collected by the state of New York.
We estimate that for every job added in the securities industry – three jobs are created in other industries.— Tom DiNapoli (@NYSComptroller) March 11, 2015
Wall Street bonuses became a topic of contention during the financial crisis, particularly for executives that took home multi-million-dollar rewards despite major losses. In response, the Federal Reserve considered putting regulators inside banks in an effort to oversee compensation and make sure it did not encourage risky behavior.
The efforts were somewhat successful, with seven major financial firms promising to scale back high-end bonuses.
Regulation, however, remains elusive. The Dodd-Frank law had some impact, but regulators are still looking to enact tougher rules on bonuses -- including provisions that could force some employees to return bonus money.