Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Recruitment & retention
    • Wellbeing
    • Occupational Health
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise

Personnel Today

Register
Log in
Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Recruitment & retention
    • Wellbeing
    • Occupational Health
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise

BonusesLatest NewsExecutive payPay & benefits

Goldman Sachs to cap salary and bonuses of top London staff at £1m

by Personnel Today 25 Jan 2010
by Personnel Today 25 Jan 2010

Goldman Sachs will cap the salary and bonuses of its top London staff at £1m.

The investment bank is expected to inform its senior bankers and traders this week about the proposed clampdown, the Times has reported.

In good economic times, top bankers at Goldman Sachs have received bonuses of £10m each.

The cap is the latest in a string of cuts introduced by banks in response to the government’s 50% tax on bonuses and new pay guidelines from the Financial Services Authority (FSA), the City regulator.

Under the FSA’s rules, anyone earning more than £1m is required to take 60% of their bonus in deferred shares.

Barclays has announced it will defer bonuses for three years, while Credit Suisse has cut UK payouts by 30%.

Sign up to our weekly round-up of HR news and guidance

Receive the Personnel Today Direct e-newsletter every Wednesday

OptOut
This field is for validation purposes and should be left unchanged.

Members of Goldman Sachs’ global management committee will take all their pay in deferred shares, but they will not be able to sell any of it until 2015.

Last week, Goldman Sachs said it would pay a total of $16bn (£9.9bn) to its staff – a lower figure than expected, although it works out at an average of more than £300,000 per person.

Personnel Today

previous post
Civil servants could lose performance-related bonuses and have pay cut under Budget plans
next post
Recession aftermath skills for managers cited as main priority for HR

You may also like

Free childcare expansion beset with recruitment challenges

1 Sep 2025

Business confidence grows to post-Budget peak

1 Sep 2025

Warship deal with Norway secures 4,000 jobs

1 Sep 2025

Decision to sack man for Michael Jackson noises...

29 Aug 2025

P&O Ferries boss who steered 800 sackings steps...

29 Aug 2025

UK large companies’ succession planning is weak –...

29 Aug 2025

Gender bonus bias widens pay gap, says Brightmine

29 Aug 2025

Bankers learn of redundancy in email gaffe asking...

29 Aug 2025

Cabin crew manager with ‘flirty banter’ loses discrimination...

29 Aug 2025

Council clerk sacked after trying to ensure his...

29 Aug 2025

  • Work smart – stay well: Avoid unnecessary pain with centred ergonomics SPONSORED | If you often notice...Read more
  • Elevate your L&D strategy at the World of Learning 2025 SPONSORED | This October...Read more
  • How to employ a global workforce from the UK (webinar) WEBINAR | With an unpredictable...Read more

Personnel Today Jobs
 

Search Jobs

PERSONNEL TODAY

About us
Contact us
Browse all HR topics
Email newsletters
Content feeds
Cookies policy
Privacy policy
Terms and conditions

JOBS

Personnel Today Jobs
Post a job
Why advertise with us?

EVENTS & PRODUCTS

The Personnel Today Awards
The RAD Awards
Employee Benefits
Forum for Expatriate Management
Whatmedia

ADVERTISING & PR

Advertising opportunities
Features list 2025

  • Facebook
  • Twitter
  • Instagram
  • Linkedin


© 2011 - 2025 DVV Media International Ltd

Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Recruitment & retention
    • Wellbeing
    • Occupational Health
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise