Huge Profit at Goldman Brings Big Bonuses

The Robber Barons are at it again!

Wonder what their tax bill is......

Huge Profit at Goldman Brings Big Bonuses - New York Times:

The Goldman Sachs Group reported today that it earned $9.34 billion this year, the most in Wall Street history, and that it would set aside $16.5 billion for salaries, bonuses and benefits for employees.

Average Wall Street Bonuses, 1985-2005 (pdf)That figure works out to an average of $622,000 for each employee, although the payouts will be far from uniform: the investment bankers at Goldman who arrange mergers and acquisitions or sell corporate stock to investors will receive much more, and support staff and other kinds of employees much less.

In the company’s fourth fiscal quarter, which ended Nov. 24, profits increased 93 percent over the year before, to $3.16 billion, or $6.59 a share, exceeding the forecasts of most analysts.

Most other major Wall Street investment banks will report their results later this week or next week, and analysts expect robust figures across the industry.