On average, people at Goldman Sachs are getting paid less - but not the big bosses!
The average Goldman dealmaker has not been so fortunate.
Bank pay peaked in 2007 at Goldman, and it never recovered after it fell from high of nearly $20 billion, in aggregate.
In recent years pay at Goldman has flattened. That's consistent with trends elsewhere on Wall Street.
This chart shows what Goldman spent on compensation over the last 14 years. It's from a presentation that Blankfein delivered earlier this year:
While average pay at Goldman has flattened in recent years, this is not the case in the C-suite.
Looking at federal filings submitted by Goldman Sachs, from 2010 until the end of last year, Blankfein's rose every year but one: 2011. From 2010 through 2014, Goldman's CEO saw his pay increase by more than 13% annually.
Filings stated that, in 2010, he made $18.6 million; the following year, Blankfein's pay sunk, to $12 million. And after that, it shot up: $21 million in 2012, $23 million in 2013, and $24 million last year.
Likewise, COO Gary Cohn's compensation has risen at a steady clip.
Pay for Goldman's rank and file may soon be on the rise, as well. After years of lagging broader markets, many banks' revenue surged for the first quarter on increased M&A. And that, in turn, could drive compensation higher at many of Wall Street's biggest banks.