Goldman Sachs had an altogether good 2010 after announcing £5.2billion profit. The group also revealed that the average worker was paid £269,000.
With full year profits of £5.2billion, the group announced Q4 profits of £1.4billion. In total the company paid out £9.6billion in bonuses and pay, although this was down 5% on 2009.
Revenues were down 13% to £24.5billion and net earnings dropped a massive 38 percent to just over £5billion for the year.
With bankers at the firm now earning over ten times more than the average worker, feelings towards the bankers are unlikely to improve.
JP Morgan announced just last week that their average earner walked away with £233,000 and RBS are expected to announce bonuses in excess of £1billion in the next week.
Whilst unemployment has also increased to 2.5million people, is it fair to lay all the blame at the feet of the bankers, and if the banks didn’t pay such bonuses, what would be the bankers incentive to work there and start turning a profit with the taxpayers money?
We’d like to hear your thoughts below.