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BANKING giant Goldman Sachs is capping earnings for its high flyers at £1million.

The decision means 100 staff are being forced to forego payments worth around £300m.

One top exec said they needed to show they were "exercising restraint"

The Sun


They are going to 'rough it' on just 1 million a year. How awful for them.

Goldman employs 5,500 people in the UK. It announced last week it had set aside £10bn for bonuses last year.

But it defended the huge sums involved by claiming it represents only 35.8 per cent of the bank's revenue - its lowest as a public company.


Am I misunderstanding the term revenue? if it means profit then surely normal practise for most companies is for most of that to go to shareholders after reasonable wages are paid.
if it means profit then surely normal practise for most companies is for most of that to go to shareholders after reasonable wages are paid.


No no no no no, wot shareholders get in Banks is wot is left over after the Masters of the Universe have taken their huge cut.
Pani is talking about "most companies", Midge. Most companies make things or do things for people who give them money for their work. The people who run banks are different. They're so used to people giving them money for nothing that they think it's theirs.
"Masters of the Universe" does seem to be how they see themselves.

"so used to people giving them money for nothing that they think it's theirs"

Yep, that sounds about right.



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