MAIL ONLINE: Goldman Sachs is today expected to earmark almost £6billion for its annual salary and bonus pool, handing staff a 15 per cent pay rise.
The windfall means Goldman bankers will take home an average of £356,000 this year.
Many senior deal-makers and star traders will pocket seven or even eight-figure packages, despite the bank's pivotal role in the financial crisis.
The payouts - to be confirmed in the group's financial results for the first half of the year - are likely to anger taxpayers here and in the U.S.
They come days after the Wall Street giant agreed to pay a £356million penalty to settle one of the most explosive fraud cases in U.S. banking history.
Goldman cut a face-saving deal with America's financial watchdog after it was charged with tricking clients into buying an investment that was designed to collapse.
Government-controlled Royal Bank of Scotland lost about £550million in this way, effectively leaving British taxpayers out of pocket.
Goldman is expected to set aside as much as 45 per cent of its first-half turnover for salary and bonuses.
Although markets have been shaken by the eurozone debt crisis, Goldman's turnover is forecast to hit £13.2billion, meaning £5.9billion will be channelled into the pay pool.
For the typical worker at Goldman, this equates to some £178,000 for just six months work. >>> Simon Duke | Tuesday, July 20, 2010
