City bank Goldman Sachs is expected to confirm tomorrow that staff bonuses will smash all records in 2009.
The Wall Street giant is on course to lavish £14bn in pay and bonuses on staff this year following a surge in profits between July and September, according to the Daily Mail.
The paper reports that Goldman’s 5,500 UK workers are now set to pocket an average of almost £500,000 each for this year – the highest rewards in the firm’s 140-year history.
The bulk is expected to be paid in shares and could be staggered over a number of years.
Elsewhere, a report published today by Morgan McKinley revealed that City workers expect a similar or higher bonus than last year despite the recession.