Goldman Sachs pays staff £9.6bn

Goldman Sachs pays staff £9.6bn

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Banking giant Goldman Sachs paid 9.6 billion pounds in pay and bonuses to staff last year

Wall Street banking giant Goldman Sachs has revealed that staff earned a total of $15.4 billion (£9.6 billion) in pay and bonuses last year – equivalent to around £270,000 per employee.

The total figure represents a 5% decline on the previous year’s pot but the share of revenues paid out in salary and benefits for 2010 was up from 35.8% at 39.3%.

The firm, which employs around 6,000 staff in the UK who are all eligible for performance-related bonuses, posted a 38% drop in net earnings to $8.35 billion (£5.23 billion) for the year to December 31.

This followed a 13% decline in revenues to $39.16 billion (£24.51 billion).

The figures are the latest in the annual results season for major US banks and will be watched closely on these shores as UK banks prepare to release their own figures next month.

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