Mega bank Goldman Sachs has set aside £5.3billion for six months of staff pay and perks – despite profits slumping.
The massive sum in salaries and bonuses and other benefits equates to more than £150,000 for each of the Wall Street giant’s 34,900-strong worldwide workforce, with some high-flying bankers pocketing a much bigger share than that.
The US-based investment bank employs around 5,500 people in the UK.
Headed by chief executive and chairman Lloyd Blankfein, it made £670million in the three months to the end of June – but that was down by 53% on the same period last year.
Luke Hildyard, of think tank the High Pay Centre, said: “This is an example of the greedy, obnoxious way that the economy works.