Wall Street bonuses surged 31% last year on rising markets and a rebound in dealmaking activity, delivering a boon for the industry’s hometown economy. Some are already wondering how long it is going to last.

The bonus pool for New York City's securities employees hit a record $47.5B in 2024, up 34% Y/Y, marking its first major increase since COVID-19 pandemic highs, New York State Comptroller Thomas P. DiNapoli said on Wednesday in the office's annual estimate.