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Average Comp This Year At Top Firm Estimated At $700,000

last updated: 2 July 2009
During these difficult times (financially and politically), executives at firms like Goldman Sachs are understandably keen to downplay what bonuses may look like come this year-end.

And it's true, we are only half-way through the year - and anything could happen to bonus pots between now and the end of the fourth-quarter. But The Wall Street Journal reports that, based on current analysts' earnings forecasts for 2009, Goldman is on track to pay out some $20bn in comp - and that's around $700,000 per employee, almost double last year's figure of $363,000.

And Morgan Stanley ? The firm is expected to have $11 - $14bn to play with, which could translate to as much as $340,000 per employee, up from $262,000 last year.

In the meantime, Bloomberg reports that, due to a cock-up over at The New York Stock Exchange, an erroneous notice was posted earlier this week saying that AIG shares were being suspended and that the firm was being delisted. The exchange has apologized for the foul-up.

The news agency also reports that Lloyds Bank plans to cut 2,100 jobs in its operations and wholesale banking units to save on costs.

The Times reports that, in an attempt to appease those angry over the size of his compensation package, Royal Bank of Scotland CEO Stephen Hester has agreed to increasing the vesting period for his deferred equity awards from 3 to 5 years.

Finally, Reuters reports that Standard Chartered is to move 400 of its Hong Kong-based global markets employees  to Two International Finance Centre, a building where rents have fallen some 17% in the last 10 months. The bank said that it had 'outgrown' its existing space and wants all unit staff together in one location.