Sunday, 22nd November 2009

 

2 July 2009 - Press Briefing

Analysts tip Goldman to match 2007 pay records

Goldman Sachs is on course to hand out up to $20bn (€14.2bn) in payouts this year, or nearly $700,000 per employee, as per analysts' earnings estimates for 2009, according to a report in The Wall Street Journal.

This would be almost double the firm's $363,000 average last year, and marginally higher than the $661,000 for the average Goldman worker in fiscal 2007, analyst projections showed.

Morgan Stanley is expected to pay out $11bn to $14bn in remuneration and perks this year, analysts forecast. On a per-employee basis, payouts are likely to surpass last year's average of $262,000.

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Brummel

Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

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