NYC Private-Sector Pay Reaches $129,030, Up 6.5% as Business Costs Stay Among Highest
Updated
Updated · Gothamist · Aug 9
NYC Private-Sector Pay Reaches $129,030, Up 6.5% as Business Costs Stay Among Highest
3 articles · Updated · Gothamist · Aug 9
Summary
$129,030 was the average New York City private-sector salary in 2025, an inflation-adjusted 6.5% increase from 2015, according to the state comptroller’s new 10-year business-cost report.
The report says that wage growth still lagged the 10.1% national increase, even as New York remained one of the country’s costliest places to operate because of taxes, labor, utilities and workspace expenses.
$561,770 was the average 2025 salary in securities, versus $48,620 in accommodation and food services and $40,240 in social assistance, underscoring the city’s wide pay divide.
Nearly 90% of the city’s 290,000 businesses employed fewer than 20 workers in 2025, leaving small and midsize firms especially exposed to high electricity, benefit and tax costs.
The findings land as Mayor Zohran Mamdani’s election and affordability agenda sharpen debate over whether tax, regulatory and infrastructure choices can keep cost growth manageable and preserve the city’s competitive edge.