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

Trainee GP who displayed Palestine flag sues for...

17 Sep 2025

Graduates face ‘white-collar’ recession in jobs market

17 Sep 2025

Ben & Jerry’s co-founder quits over Unilever’s social...

17 Sep 2025

Inflation unchanged at 3.8% in August

17 Sep 2025

Tech firms to plough £30bn into ‘AI Growth...

17 Sep 2025

Retirement at risk – why we all need...

17 Sep 2025

Sky to cut 600 jobs as it ‘reshapes’...

17 Sep 2025

MPs reject Lords’ amendments to Employment Rights Bill

16 Sep 2025

Failure to prevent fraud: Only 29% training staff...

16 Sep 2025

The rise in ‘workplace fawning’ and how it’s...

16 Sep 2025

  • Workplace health benefits need to be simplified SPONSORED | Long-term sickness...Read more
  • 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 Live
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