Wall Street is back and profits are soaring. And according to a new report, so are bonuses.

New York State Comptroller Thomas P. DiNapoli reported on Wednesday that Wall Street’s annual wealth infusion for employees—its bonus pool—notched a new record at $47.5 billion in 2024, an increase of 34% over the year prior. The bonus pot hasn’t veered even close to this level since 2021, when the total swelled to $42.7 billion, before tumbling back down to $33.9 billion in 2022.

The comptroller’s office publishes a yearly estimate of bonus payouts for those employed in the securities industry based on personal income tax withholding trends and cash bonuses paid. The average bonus deposit, accounting for those at the entry level all the way up to those with panoramic views in corner offices, was $244,700, DiNapoli found. A year earlier, the average payout was $186,100. The 131 New York Stock Exchange member firms' profits rose 90% in 2024, the comptroller reported .

“The record high bonus pool reflects Wall Street’s very strong performance in 2024,” DiNapoli said in a statement. “This financial market strength is good news for New York’s economy and our fiscal position, which relies on the tax revenue it generates. However, increasing uncertainty in the economy amid significant federal policy changes may dampen the outlook for parts of the securities industry in 2025.”

Tariffs have claimed a starring role among the many policy changes implemented by the Trump administration, rocking major market averages with uncertainty and volatility. The S&P 500 is down 3% the past month and 1.5% year to date. One of the cascade effects of those federal policy changes—and the presence of Tesla CEO Elon Musk in Washington, D.C.—has resulted in pressure on DiNapoli. As comptroller, DiNapoli oversees the state’s $270 billion retirement fund , which holds a stake in Tesla valued at more than $800 million. A group of 23 Democratic state senators urged the comptroller this month to divest from the Musk-helmed automaker.

According to the two dozen senators who reached out to DiNapoli, the Tesla stake is the fund’s seventh largest holding, and it is in jeopardy while Musk is the CEO .