Wall Street bonuses jumped 20 percent to a record, but the boom may be short-lived.

Bankers racked up their highest bonuses ever in New York final 12 months, however their luck could also be operating out.

Staff in New York Metropolis’s securities trade acquired further payouts averaging $257,500 in 2021, up 20 p.c from their earlier peak a 12 months earlier, in response to an estimate by Thomas P. DiNapoli, the state comptroller.

“Wall Road’s hovering income continued to beat expectations in 2021 and drove file bonuses,” Mr. DiNapoli mentioned in a press release on Wednesday. “However latest occasions are prone to drive near-term profitability and bonuses decrease.”

Markets stay turbulent in the course of the restoration from the pandemic, and Russia’s struggle on Ukraine solely will increase the uncertainty of the worldwide financial outlook, Mr. DiNapoli mentioned.

The surge in compensation surpassed town’s projections and can permit it to boost extra income-tax income than it anticipated, even because the pandemic continues to weigh on different industries. “We gained’t get again to our pre-Covid financial energy till extra New Yorkers and extra sectors — retail, tourism, development, the humanities and others ­­— get pleasure from related success,” Mr. DiNapoli mentioned.

The 180,000 workers within the securities trade make up solely 5 p.c of town’s private-sector work drive however account for a fifth of its wages, in response to the estimates. One in 9 jobs in New York Metropolis is linked to Wall Road.

Nonetheless, the pay bumps haven’t stopped droves of bankers from altering jobs amid pandemic-inspired ennui, blockbuster income and fierce competitors for expertise. Itchy ft have compelled massive banks to open their wallets: Compensation prices on the nation’s six largest lenders rose 12 p.c to almost $178 billion mixed final 12 months.