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Wednesday, December 6, 2023

Goldman Sachs discusses bigger bonuses for top traders  | Reuters News Agency

Business & Finance

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. 

Market Impact

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%. 

Article Tags

Topics of Interest: Business & Finance

Type: Reuters Best

Sectors: Financial Services

Regions: Americas

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Important Regional Story

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