Goldman bankers see overall reduction in average comp

Goldman Crowned

The Masters of the Universe are seeing some shrinkage.

The New York Post reports that the average paycheck at Goldman Sachs dropped 8% last year to $344,510 — the lowest level since the 2008 financial crisis. That’s a far cry from the go-go days of 2007, when annual pay per employee worked out to $568,732, according to regulatory filings.

In 2008, during the depths of the financial crisis, the average compensation was $316,927, which includes salary, bonuses and stock options.

Goldman’s bankers and traders are taking a hit as the firm spreads around the wealth. The investment bank added 2,800 employees in 2015, most of them in less sexy areas like compliance and technology, according to the company’s annual report.

To access the complete New York Post article hit the link below:

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