Good to be a Gold man ?
Bloomberg News reports that compensation at Goldman Sachs, which includes salaries, benefits, bonuses and the expense of deferred pay awarded in prior years, rose 10% to $8.04bn in the first six months of 2103, the firm said Tuesday in a statement.
Revenue in the same period increased 13% to $18.7bn.
Compensation was 38% of revenue in 2012, the second-lowest since Goldman Sachs has been a public company. The ratio of pay to revenue fell in the first half to 43% from 44% in the same period last year.
The first-half compensation expense is enough to pay each of Goldman Sachs’s 31,700 employees $253,691 for the first six months of the year. The firm set aside $7.29bn in the same period of 2012, equal to an average $225,789 for each of the 32,300 people employed by Goldman at the time.
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