高盛员工收入大缩水

    美国的99%人群可能很快就会迎来新成员——高盛（Goldman Sachs）员工。.

    随着新的监管条例实施、交易减少和法律赔付影响到高盛（Goldman）的盈利能力，预计到明年年底该公司的人均薪酬可能减少近10万美元。这一结论来自其竞争对手摩根大通（JPMorgan Chase）旗下欧洲子公司Cazenove最近发布的一份报告。

    就在短短两年前，高盛的年度人均薪酬仍然高达412,000美元，包括从IT员工到CEO劳埃德•布兰克费恩在内的所有员工。这样的薪资水平让这家精英投行的员工们跻身美国收入最高的1%人群。去年，1%和99%的分水岭是368,000美元。

    但Cazenove 的分析师们预计，到明年年底，高盛人均薪酬将降至314,000美元。果真如此，高盛人均薪酬将逼近全美前2%的下限。2%和98%的分水岭约为290,000美元。

    当然，这还远远谈不上对这些“宇宙主宰者”构成毁灭性打击，当初有些人也曾经希望这场金融危机能带来这样的效果。而且，需要注意的是这是平均薪酬。高盛的银行家们中仍有很多人岁入百万。2011年，布兰克费恩就拿到了1,200万美元。

    回到2008-2009年，当时人们正在热议，华尔街接近崩溃和政府不得不插手救助的事实是不是应该让金融公司重新考虑如何支付员工薪资以及支付多少。华盛顿任命了“薪酬沙皇”肯尼思・范伯格负责审核接受政府救助企业的高管薪酬。美国联邦储备委员会（Federal Reserve）制定了银行业薪酬指引。薪酬“追讨”条款成为范本。

    但薪酬数字的改变没有那么多。看上去唯一对华尔街人士的荷包产生一点影响的是多德-弗兰克法案（Dodd-Frank）和其他新的国际资本金要求，这或许是为什么银行家们如此高声反对的原因。

    高盛是受影响最大的公司之一。多德-弗兰克法案禁止高盛和其他公司从事某些高利润和高风险业务，包括自营交易和对冲基金投资，这些一向是高盛赚取大量利润的业务。而且，新规还要求高盛和其他公司保有更多现金，而不是将它们用于放贷或投资。

    总之，摩根大通的分析师们表示，如果高盛不做出改变，监管改革将使得该公司的股权回报率降至10%。就在这场金融危机爆发前不久，高盛的这项盈利能力指标还在17%，而在过去有很多年，该指标甚至还曾经大大高于17%。

    分析人士预计，高盛将采取裁员、减薪的措施，期望降低成本和修复利润。高盛可能会在投行业务部门再裁4,400人。截至第一季度末，高盛的员工总数已较过去一年减少了约2,000人。

    不过，高盛的人均收入预计仍高于同行。据摩根大通预测，所有公司投资银行家的平均薪酬将为233,000美元，低于这些法规实施前的303,000美元。但这个数字实际上可能可以更高一些，因为这些分析师们没有将摩根大通自己的数据纳入分析。咨询顾问们表示，摩根大通的薪酬目前堪比高盛，如果纳入分析，必定拉高全行业的平均值。

    报告预计瑞信（Credit Suisse）是紧随高盛之后、全球薪酬第二高的投资银行，平均薪酬达到了280,000美元。摩根士丹利（Morgan Stanley）的平均薪酬可能降至244,000美元，仅跻身全美前3%。哀哉，华尔街！

    译者：早稻米

    The 99% may soon have some new members - employees of Goldman Sachs.

    The average compensation at Goldman (GS) is likely to fall by nearly $100,000 by the end of next year as new regulations, fewer deals and legal payouts hurt the firm's profitability. That's the conclusion of a recent report from a European division of rival JPMorgan Chase (JPM).

    As recently as two years ago, Goldman's annual pay, which includes everyone from the people who work in the firm's IT department to CEO Lloyd Blankfein, had averaged $412,000. That salary put employees of the elite investment bank solidly in the top 1% of all earners in the United States. Last year, the cut off for the 1% was $368,000.

    But by the end of next year, though, analysts at JPMorgan Cazenove expect compensation at Goldman to average just $314,000. That will bump the average Goldmanite all the way down to near the bottom of the top 2% of all U.S. earners. The cut off for the 98% tops out at around $290,000.

    Needless to say, this is not nearly the crushing blow to the Masters of the Universe that some hoped the financial crisis would be. And remember this is average compensation. There are still plenty of Goldman bankers who make millions. Blankfein was paid $12 million for 2011.

    Back in 2008 and 2009, though, there was talk that the near collapse of Wall Street, and the fact that the government had to come to the rescue, would force financial firms to rethink how, and how much, they pay their employees. Washington appointed a pay czar. The Federal Reserve instituted new rules. Clawback provisions became the norm.

    But the dollar figures haven't changed all that much. The only thing that does appear to have made a slight dent in Wall Streeters' wallets is Dodd-Frank and some other new international capital requirements, which is why, perhaps, bankers have objected so loudly.

    Goldman has been among the most impacted. Dodd-Frank bars the firm, and others, from certain high-profit, and high-risk, businesses, including proprietary trading and hedge fund investing, where Goldman has historically made a good deal of its profits. What's more, the new requirements will cause Goldman and other firms to hang onto more of their cash, rather then lend it out or invest it.

    All told, the analysts at JPMorgan say, if Goldman were to do nothing, regulatory reforms will knock the firm's return on equity, a key measure of profitability, down to 10% from 17% shortly before the financial reforms went into place, though in many years it was much higher than that.

    In response, the analysts believe Goldman will cut employees and salaries in order to lower costs and repair profits. Goldman is likely to send an additional 4,400 people from its investment banking division packing. As of the first quarter, Goldman's staff had already shrunk by about 2,000 in the past year.

    Goldmanites are still expected to take home more than rivals. According to the JPMorgan's projections, the average investment banker at all firms will make $233,000, down from $303,000, before the regulations. But that figure may actually be higher. The JPMorgan analysts didn't include their own firm in the analysis. Consultants say the firm's compensation now rivals Goldman's pay, which would bring up the industry-wide average.

    Credit Suisse, in the survey, was expected to be the second highest paying investment bank in the world after Goldman at an average pay of $280,000. The average comp at Morgan Stanley (MS) could drop to $244,000, which would put that firm's employees in the top 3% of all U.S. earnings. Woe is Wall Street.