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Golden ticket

Figures just out show that US investment bank Goldman Sachs paid their average employee £269,000 last year, despite recording a slump in profits.

Although net profits in 2010 for the firm totalled £5.2bn, they were 38% lower than the previous year.

Goldman Sachs is one of the nine US banks that received a bailout from the US taxpayer.

TUC General Secretary Brendan Barber reacted to the figures: ‘Goldman Sachs has stuck two fingers up to austerity Britain by shelling out mega bonuses again.

‘These earnings would make Gordon Gekko blush.

‘Bankers are toasting their telephone-digit bonuses while the rest of the country reels from more than a fifth of young people being out of work.

‘Looking ahead, we are seeing signs of growth and more economic activity and we are well-positioned to help our clients expand their businesses, manage their risks and invest in the future.’

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