Friday 22 September 2017

Average bonus for 'mid level' Goldman Sachs bankers hits €273,000

Goldman Sachs' New York HQ
Goldman Sachs' New York HQ

Goldman Sachs Group bankers got the biggest bonuses in London this year with an average payout of £194,000 (€273,000), £24,000 more than second- ranking Morgan Stanley, according to figures from Emolument.com.

Bank of America is ranked third among the big 15 investment banks.

It pays mid-level bankers, who are below managing directors, an average bonus of £166,000, the salary benchmarking site said in a statement yesterday.

Credit Suisse Group's £135,000 average bonus makes it the most generous European bank, putting it in sixth place, while ING Groep and Societe Generale ranked last, paying £91,000.

London's dealmakers' bonuses have been squeezed after European Union lawmakers capped variable pay at twice salary, the world's toughest bonus rules are a bid to tackle a culture blamed for the 2008 financial crisis.

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