Wall Street salaries at 10-yr high

India Business Journal - - GLOBAL WRAP-UP -

Wall Street work­ers have some­thing to cel­e­brate. Com­pen­sa­tion in the fi­nan­cial in­dus­try is the high­est in a decade. A re­port from the New York State Comptroller has said that the aver­age Wall Street salary rose by 13 per cent in 2017 to $422,500, the high­est com­pen­sa­tion since 2008. The fi­nan­cial cri­sis pre­cip­i­tated by Lehman's col­lapse has re­shaped the Amer­i­can econ­omy. While Wall Street banks strug­gled for a few years after the cri­sis, many work­ers in other in­dus­tries are still feel­ing its sti­fling ef­fects. Me­dian house­hold in­come rose by 1.8 per cent in 2017 to $61,372 or about one-sev­enth of the aver­age salary on Wall Street.

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