Belfast Telegraph

Pay takes 4% hit at Goldman Sachs

By John-Paul Ford Rojas

Average pay shared out by Goldman Sachs staff fell by 4% in 2013 amid what its boss called a "challenging environment" – but it still worked out at $383,374 (£234,110).

Around 6,000 UK employees of the US banking giant were among those to share in the $12.61bn (£7.7bn) pay and bonuses pot for the year, but the sum was 2% lower than the year before.

With staff numbers rising 2% to 32,900, it meant average remuneration was squeezed from the $399,506 (£243,988) in 2012.

The fall is unlikely to attract much sympathy among the wider public, especially as the compensation and benefits figure for the fourth quarter rose 11% to $2.19bn (£1.34bn).

For 2013 as a whole, profits across the company were up 6% to $7.73bn (£4.72bn) on 2012.

Belfast Telegraph