The recession is still in full swing, but Goldman Sachs is on track for a record-setting year in terms of employee compensation. The firm yesterday reported second-quarter profits of $3.4 billion, and if it continues with the same success rate as the first half of 2009, employees would share a record bonus pool come year-end.
If the estimations materialize, Fortune points out [1], "The average Goldman worker could end up taking home more than 10 times the typical American family's income." The average employee would finish the year with approximately $773,000, more than doubling the $363,000 they took home in 2008 and trumping the $662,000 they made in 2007. Even if Goldman doesn't end up with a record-setting year, the pay scale is seen as a bit of a shock in light of the current economy.