Business & Finance
14 November 2023, 6:10 pm 1 minute
Reuters exclusively reported that Goldman Sachs (GS.N) bosses are considering fatter bonuses to retain star traders and dealmakers this year as the bank looks to win over some who were disappointed by smaller payments in 2022.
Goldman executives are discussing sweeteners for standouts from the trading and investment banking division, which accounts for about 68% of its revenue, three of the sources said. The pay bumps could help win over some employees who balked at smaller bonuses last year that they blamed on losses from the retail operations. The firm’s allocation for bonuses fell by as much as 40% in 2022, according to another source, after earnings slid 48%. That drop exceeded Wall Street’s average bonus decline of 26%.
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Financial Services
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story