Goldman Sachs says it has set aside as much as $542,000 in compensation per employee, already topping the total for 2005. Here are the envy-inducing details from Bloomberg.
Goldman said today it provided $13.9 billion in compensation for its 25,647 employees, compared with $11.7 billion for 22,425 employees at the end of last year. The firm, whose $27.9 billion of revenue has already exceeded last year's record, typically allocates 50 percent of revenue to pay for the first three quarters and about 36 percent in the final quarter.
In other words, there’s more to come!
Speaking of which, have you heard any rumors of bonuses yet? Send it our way please! (All sources will be kept anonymous.)
Goldman Sets Aside $542,000 Per Employee, Beats 2005 [Bloomberg]