Pay and bonuses at Goldman Sachs rise 10% in just six months as profits almost double

Employees at Goldman Sachs have raked in an average of £170,000

Total pay for 31,700 global staff swelled to £5.3bn in first half of 2013

Big rise has been criticised as 'reminiscent of the pre-crisis days'

For the last three months, bank's pre-tax profits rose 87% to £1.7bn

Pay and bonuses for Goldman Sachs bankers have soared by 10 per cent.
Employees have raked in an average of £170,000 – and that is for just the first six months of the year.
But with many staff involved in back office or temporary work, many high-flyers are likely to have received far larger sums.

On the rise: Goldman Sachs's profits have almost doubled as the Wall Street bank reported booming business (file picture)

Total pay for the bank’s 31,700 global staff – 6,000 of whom work in the UK – swelled to £5.3billion in the first half of the year.

The big rise, at a time when millions of families are struggling, was criticised as ‘reminiscent of the pre-crisis days’.

Goldman Sachs’s profits have almost doubled as the Wall Street bank reported booming business.
For the last three months, pre-tax profits rose 87 per cent to £1.7billion and to £4billion for the first half of the year. Chief executive Lloyd Blankfein said the results were ‘solid’.

Reaction: Chief executive Lloyd Blankfein said the results - showing that for the last three months, pre-tax profits rose 87 per cent to £1.7billion and to £4billion for the first half of the year - were 'solid'

But David Hillman of the Robin Hood Tax campaign said: ‘Goldman Sachs’s bumper profit announcement is way out of kilter with the rest of the economy and reminiscent of the pre-crisis days.

'Goldman Sachs’s bumper profit announcement is way out of kilter with the rest of the economy and reminiscent of the pre-crisis days'

David Hillman, Robin Hood Tax campaign

'Governments must learn the lessons of past mistakes and bring to an end our two-tier economy that benefits the banks.’
Despite the global downturn, last year Goldman paid staff more than £8billion, an average of £250,000 each. This year the group was heavily criticised over a scheme that would have helped its bankers avoid tax.
It planned to wait until April 6, when the top rate of tax fell from 50p to 45p, to pay 2012’s bonuses. It relented after a public backlash.