Goldman Sachs’s Nine-Month Compensation Costs Increase 10%
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Goldman Sachs Group Inc., the fifth-biggest U.S. bank by assets, set aside almost $11 billion to pay employees in the first nine months of the year, up 10 percent from the same period in 2011 as revenue climbed.
The expense, which includes salaries, bonuses, stock awards and benefits, was 44 percent of the firm’s nine-month revenue, New York-based Goldman Sachs said today in a statement. That’s the same rate as a year earlier, when the firm set aside $10 billion.