Goldman Sachs raises banker pay and bonuses after 150% surge in quarterly profit

Wall Street firm says it spent $4.2bn on compensation and benefits for its 45,300 staff in the three months to June

Goldman Sachs has increased banker pay including bonuses by 17% after profits more than doubled in the second quarter, following a rebound in dealmaking.

The Wall Street firm said it spent $4.2bn (£3.2bn) on compensation and benefits for its 45,300 staff in the three months to June, up almost a fifth from the same period last year. That figure accounts for salaries and pensions, as well as the amount being put aside for individual bonuses that are distributed at the end of the financial year.

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