Goldman's 2013 compensation numbers are in

Lloyd Fonzie Blankfein

Setting the benchmark ?

Goldman Sachs Group cut the portion of revenue it pays employees to the second-lowest level as a public firm.

Bloomberg News reports that compensation for 2013, which includes salaries, benefits, bonuses and the expense of deferred pay awarded in prior years, fell 2.6% from 2012 to $12.6 bn. Revenue in the same period was little changed at $34.2bn.

CEO Lloyd Blankfein, 59, allocated 37% of revenue for pay in 2013, compared with 38% the previous year. 

The compensation expense is enough to pay each of Goldman Sachs’s 32,900 employees $383,374 for the year.

Goldman has just released fourth-quarter net income, which dropped 19% to $2.33bn from $2.89bn a year earlier, but which beats most analyst estimates.

Goldman's revenue from client trading in fixed income, currencies and commodities dropped 15% in the fourth-quarter to $1.72bn.

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