Goldman Sachs Removes Bonus Cap for Top UK Staff, Allowing Multimillion-Pound Payouts

May 2, 2024, 03:28 PM

Goldman Sachs has decided to remove the cap on bonuses for its top UK-based staff, a policy initially implemented in response to the 2014 public outcry over the financial crisis. This move by Goldman Sachs will allow the firm to offer multimillion-pound payouts to its best-performing traders and dealmakers in London. The bonus cap was originally introduced by the European Union and has been in place since 2014.