It’s official: 2006 is a record year for Wall Street bonuses.
The state Comptroller’s office on Tuesday released its annual estimate of the bonuses for investment bankers and other financial types, and the number is slightly staggering: $23.9 billion, well more than last year’s record of $20.5 billion.
That $23.9 billion is more than the GDP of several nations, but that doesn’t mean that Wall Streeters will automatically pour their bonuses into New York real estate in 2007. The average bonus this year will be $137,580, after all, barely enough to cover the annual price of a parking space in some of Manhattan’s finer garages.
– Tom Acitelli