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NEW YORK (CNNMoney) — The average Wall Street bonus for 2014 is $172,860.
While it's the highest level since the financial crisis, it's not back to the record numbers yet. The good news is that Wall Street is adding jobs for the first time in years.
The average bonus grew by a modest 2 percent, according to a report from New York State Comptroller Thomas DiNapoli released Wednesday.
After big increases in 2012 and 2013, last year's rise may come as a disappointment. The tepid growth in bonus payments came as profits across the industry fell to $16 billion from $16.7 billion in 2013.
The cost of legal settlements related to the 2008 financial crisis continues to be a drag on Wall Street profits. But the securities industry remains profitable and well-compensated even as it adjusts to regulatory changes.
–Thomas DiNapoli, New York State Comptroller
But Wall Street added 2,300 jobs last year, marking the first growth since 2011.
DiNapoli said it was unclear exactly why the growth in bonus payments slowed from the previous two years. But he noted that profits were dragged down by big high-profile legal settlements and that banks are still adjusting to new regulations.
"The cost of legal settlements related to the 2008 financial crisis continues to be a drag on Wall Street profits," said DiNapoli. "But the securities industry remains profitable and well-compensated even as it adjusts to regulatory changes."
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