Goldman Sachs Boosts Pay Amid 150% Profit Surge and Earnings Beat
Goldman Sachs has increased banker pay and bonuses by 17% after a 150% surge in quarterly profits, driven by a rebound in dealmaking. The firm spent $4.2 billion on compensation and benefits in the second quarter, reflecting improved operating performance. Profits were boosted by significant business deals, including ExxonMobil's $60 billion takeover of Pioneer Natural Resources. The brighter economic outlook and potential interest rate cuts are expected to further increase demand for banking services and larger bonuses for staff.