Bloomberg News reports that compensation, which includes salaries, bonuses and the expense of awards deferred in prior years, rose 0.6% from 2013 to $12.7bn as the number of employees increased, the firm said in a statement Friday.
That amounted to 36.8% of revenue compared with 36.9% a year earlier. The investment bank disbursed 36% in 2009, the least since selling stock to the public in 1999.
Last year’s compensation expense is enough to pay each of Goldman Sachs’s 34,000 employees $373,265 for the year, down from $383,374 in 2013. Figures for average pay don’t represent what any employee actually gets and are calculated by dividing the total compensation expense by the number of workers.
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