Goldman Sachs has reported earnings of $13.4 billion today for 2009. Also, the "compensation pool", or, in other words, "bonuses", comes in at $16.2 billion. On average, each Goldman Sach employee gets nearly half a million dollars, but this isn't about averages: some traders will walk away with several million dollars. Yes, the compensation pool exceeds the total earnings: compensation is considered a cost to the business (36% of its revenue, according to the source below), and is not taken off the top. Goldman Sachs has been on track for this scale of payout, and has even exceeded earlier expectations.
However profitable the last year has been for Goldman Sachs, the message sent by this payout is the opposite of "lesson learned".
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However profitable the last year has been for Goldman Sachs, the message sent by this payout is the opposite of "lesson learned".
source-nowpublic.com
