Securities industry profitability rose sharply in 2016, increasing by 21 percent, while the average bonus paid to employees in New York City’s securities industry increased by 1 percent to $138,210.

Securities industry profits rose dramatically in 2017 for the second consecutive year and the average bonus paid to industry employees in New York City jumped 17 percent to reach $184,220.

Securities industry profits in 2018 were 11 percent higher than the previous year, but the average bonus paid to industry employees in New York City declined by almost 17 percent to $153,700.

New York State's economy is interdependent with the major U.S. automobile makers through New York State based auto- related jobs and billions of dollars of debt held by New York based financial institutions.

The COVID-19 pandemic has significantly impacted the securities industry in New York City, affecting both operations and profitability.

The average bonus paid to employees in New York City’s securities industry increased by 3 percent in 2019 to $164,100, but it is likely to fall sharply in 2020 as the coronavirus crisis strains industry profitability.