Goldman’s Pay Pool Shrinks Just 1% In Q1

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Goldman Sachs set aside $4.34bn to pay employees in the first quarter, about 1% less than a year earlier, as the firm employed 400 fewer people.

Bloomberg reports that the compensation expense was equal 43% of revenue, down from 44% in the first quarter of 2012, the New York-based company said Wednesday in a statement.

The sum, which covers salaries, benefits and accruals for year-end bonuses, is enough to give each of the bank’s 32,000 employees $135,594 for the first three months of the year.

Compensation at JPMorgan fell 7% to $3.4bn in the first quarter, amounting to about 34% of revenue.

Hit the link below to access the complete Bloomberg article:

Goldman’s Pay Pool Shrinks 1% in First Quarter After Job Cuts

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