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.
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.
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