Goldman Sachs Is Competing With An Upstart For The honour Of 'Best 2012 Compensation Pool'

Horse race

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As banks report earnings for the second quarter of 2012, bankers get a rough idea of how fat their bonus will be.So far for 2012, Bloomberg reports that New York investment banks Jefferies Group and Goldman Sachs have set aside the highest average compensation per employee, among Wall Street big banks.  

For the first half of 2012, Jefferies has pooled enough to pay out an average of $228,407 per employee, with Goldman at $225,789 per employee.  In comparison, Goldman reported having 32,300 employees while Jefferies only had to pay 3,809.

Average pay available for the 26,553 people at JPMorgan is 18% lower than that of Goldman and Jefferies.  JPMorgan’s compensation was hit by the $5.8 billion trading loss it faced earlier this year.

But, Jefferies, unlike Goldman, does not count temporary workers and consultants, which would increase staff by more than 10%, making Goldman Sachs the one with the highest pay per employee.

However, the first half of 2012 has not been good.  Bank of America, Citi, JPMorgan, Morgan Stanley and Goldman Sachs all reported that the first half of 2012 was the worst start to a year since 2008. 

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