Goldman pays staff $11.7bn
Goldman Sachs paid 22,425 employees total compensation of $11.7bn (€9.8bn) last year. Average pay rose 12% to $521,000 but the stock award for chief executive Hank Paulson was frozen at $37m.
The figures are contained in the Goldman's latest filing with the Securities and Exchange Commission.
Paulson was awarded $37m in stock for the 2004 financial year.
His 2005 award beat that of Merrill Lynch chief executive Stan O'Neal who was awarded $20.2m of shares according to recent filings.
A sharp rise in trading and principal investments fuelled Goldman's pre-tax profits last year to a record $5.6bn, up more than a fifth.
The bank's investment banking division turned in its best performance for four years following a rush of merger and acquisition deals. Net revenues rose 9% to $3.7bn, led by a 30% increase in debt underwriting revenues and a 10% jump in mergers and acquisitions advisory revenues to $1.9bn.
