Goldman Sachs reveals $12bn pay bill

Wall Street banking giant Goldman Sachs has revealed a bill for pay and bonuses in 2011 of $12.22bn (€9.51bn) today.

While the total pay packet – based on its headcount of 33,300, equating to an average of $366,966 (€285,760) for each of its staff – decreased by 21% compared to last year, the share of revenues paid out in salary and benefits for 2011 was up from 39.3% to 42.4%.