New York City's most important economic sector lies in its role as the headquarters for the U.S.financial industry, metonymously known as Wall Street. The city's securities industry, enumerating 163,400 jobs in August 2013, continues to form the largest segment of the city's financial sector and an important economic engine, accounting in 2012 for 5 percent of the city's private sector jobs, 8.5 percent (US$3.8 billion) of its tax revenue, and 22 percent of the city's total wages, including an average salary of US$360,700. Many large financial companies are headquartered in New York City, and the city is also home to a burgeoning number of financial startup companies.