Goldman Sachs results: $12bn set aside for pay and bonuses for 2014

[inanna]

Source: The Guardian

Friday 16 January 2015 15.09 GMT

Bankers at Goldman Sachs were paid an average of $373,265 (£245,500) in 2014 after profits at the highest profile firm on Wall Street rose 5%.

Some $12.7bn (£8.35bn) was set aside to pay its 34,000 staff, who will learn the size of their individual payouts in the coming days. Some of them will receive far more than the average; data for 2013 showed that the most senior executives in London received an average of £3m.

But taking the fourth quarter separately, profits at Goldman Sachs were down 7% on a year earlier after revenue fell in each of its four divisions – investment banking, client trading, lending and fund management.

<snip>

Even so, Lloyd Blankfein, chairman and chief executive, said: “We are pleased with our performance during a year characterised by mixed global economic and financial conditions... Looking ahead, we see evidence of a continued pick up in momentum for the global economy that will improve the opportunity set for 2015.”

Read more: http://www.theguardian.com/business/2015/jan/16/goldman-sachs-bankers-paid-average-245000-2014

[Manny Man]

1. 12.7 billion?

Did the U.S. Government get their share? Of at least 95%?

[hack89]

3. They pay income tax in whatever country they work in.

So the US government did get its legal share.

[BrotherIvan]

6. Riiiiiiiiggghhht

[hack89]

7. You saying the workers don't file tax returns?

not sure I understand what you are getting at.

[BrotherIvan]

8. I'm saying that the wealthy have access to tax dodges you and I could only dream of

I had an acquaintance who was new on Wall Street. His bonus that year was $5 million dollars. His tax paid: $0. Creative write offs, losses, investments, etc. and he didn't pay any taxes. You do have to pay your accountant pretty well, so that's sad.

[Lucky Luciano]

9. New to wall st and taking down five bucks?

I don't know anyone on wall st that had it that good when they were new.

[BrotherIvan]

11. It was the 90s

And I have no doubt he was a crook.

[fredamae]

2. And Broken Social Security Beneficiaries

will take Cuts? We can't get a Minimum Wage Increase to $15.ph? Cutting SNAP? etc.........

Way to Go "dems"! When ya coulda done something---ya didn't. Why?

[packman]

4. Seems I read a few days ago

about some banker or CEO whining about decreased revenues and how it was impacting their bottom line.. God, $373.000 in pay plus bonuses that kiss the sky - AND that is on a fourth quarter LOSS!! I can't write any more , have to dig in the couch to get enough coins to buy some hamburger meat for dinner tonight

[inanna]

5. Yeah I hear ya....

Me and my big "whopping" paycheck that might be enough to pay rent AND buy a few groceries.

It's hard not to be cynical, isn't it?

[Initech]

10. We don't rob banks anymore, they rob us.