"We cannot see a repeat of the risky behavior that crippled our economy," DiNapoli says in a statement. "Tying compensation to long-term sustainable profits is a step in the right direction. We also need the right level of regulatory protections to make sure the securities industry thrives without driving the rest of us out on a fragile economic limb."

The average taxable bonus for '09 rose to $123,850, up 25% from the '08 figure of $99,200 per capita, but well below the record $191,360 average for 2006, according to figures released by DiNapoli's office. Additionally, compensation represents a smaller share of net revenue: 40%, compared to upwards of 50% in former years. Average total compensation for New York City-based securities employees rose 27% to $340,000 in '09, DiNapoli said.

With the major Wall Street firms now in better shape than they were in the wake of the industry's near-death experience, profits for '09 could exceed $55 billion, according to DiNapoli's estimates. Broker-dealer operations of New York Stock Exchange member firms earned a record $49.9 billion through the first three quarters of last year.