President Donald Trump’s fast-approaching “Liberation Day” sent stock markets swinging sharply worldwide on Monday. On Wall Street, the S&P 500 rose 0.6% in another roller-coaster day, after being down as much as 1.

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.

That is up 34% from last year’s bonus pool of $35.4 billion and the highest number since records began in 1987.

Another wipeout slammed Wall Street as worries built about a potentially toxic mix of worsening inflation and a U.S. economy slowing because of households afraid to spend due to the global trade war.

President Trump’s latest trade war threat is expected to come into effect this week, but businesses and investors remain unsure about how much it will hurt.

Wall Street bankers saw their bonuses rise more than 30% last year, according to a Wednesday statement from New York State Comptroller Thomas DiNapoli, contributing to a record high bonus pool lifted by a strong performance from Wall Street in 2024.

That's how much the average Wall Street bonus was in 2024. The figure marks a 31% increase from $186,100 the prior year, according to a report from the New York state comptroller’s office. Wall Street bonuses have an outsized impact on New York City's economy and workers.