Investment banks paid employees in New York City a record $21.5bn in bonuses last year, surpassing the previous record set during the bull market in 2000 by 10 per cent.

Alan Hevesi, New York State Comptroller, released his forecasts for bonuses on Wednesday. He said bonuses paid by Wall Street banks grew by an estimated 15.5 per cent from a year earlier. The average bonus of $125,500 also set a record.