Goldman Sachs to tinker with payout percentages?

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So far this year, Goldman Sachs (GS) has set aside nearly 50 percent of revenue for compensation and benefits. That’s historically high. The gilded bank allocated 48 percent in 2008, 43.9 percent in 2007 and 43.7 percent in 2006. Bloomberg notes that the compensation committee may well tinker with the percentages for the fourth quarter to ensure lower full-year bonuses compared with 2007. 

William George, a member of the compensation committee, told the news service that he thinks the board will indeed take a close look at that. The smart thing to do may be to set it just lower than the one in 2007–if only for PR reasons. This may anger employees, but what else is the board to do? George was quoted: ”There is so much anger out there and I’m not quite sure how to ameliorate that, other than to moderate things and to recognize that Goldman and every other firm benefited from the actions of the Federal Reserve Board and the Treasury Department.” 

For more:
- here’s the article

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