The average payment of Goldman Sachs fell 15 percent year over year as turbulent markets discourage companies from the list of markets, hitting hard underwriting business bank. Goldman Sachs International (GSI) reported a total payroll of $ 2.45 billion, up 6.4 percent, although staff increased by 10 percent.
Each employee received about $ 400,000 in wages on average, below about $ 470,000 in 2014, according to estimates. Subscription revenue GSI has decreased by almost 27 percent as the fall in oil prices, uncertainty about the actions and concerns about global economic growth.
This uncertainty has led to Goldman Sachs and other big banks to try to reduce costs to offset low interest rates and stricter regulations. Chief executive Lloyd Blankfein said last month that the market turmoil, declining oil prices and concerns about profitability across the banking sector meant many costs.
"We can do quite a lot more on the cost side, if we have to, especially now, when you have to deliver a return"
Rival Morgan Stanley said in January it plans to cut $ 1 billion in costs by 2017, while JPMorgan Chase is in the midst of a cost reduction program of $ 2.8 billion.

No comments:
Post a Comment