Goldman Sachs average employee comp could hit $448K this year

Small Business Administrator Linda McMahon on how President Trump’s tax reform bill has helped businesses across the U.S.

Goldman Sachs had a solid first quarter thanks to tax reform savings and a more active trading environment, which lifted the company’s earnings and revenue. Better results for the bank meant that its employee compensation increased during the quarter to $4.1 billion. With Goldman’s estimated 36,600 employees, according to Statista, that equates to about $112,000 in compensation per employee.

If Goldman sustains this level of compensation, the average employee income could reach $448,000 for this year. Average household income in the U.S. in 2017 was just above $55,000, according to the U.S. Census Bureau. There is an average of 2.58 people per American household.

Goldman’s CEO, Lloyd Blankfein, earned total compensation of $24 million in 2017.