Goldman Sachs pay pot for bankers surges by more than 20%

First-quarter earnings show £580m pool, reflecting increase in share price as bonus cap scrapped in UK

London bankers at Goldman Sachs have seen their pay pot jump by more than 20% so far this year, as the bank’s surging share price added to the prospect of bumper payouts after bonus caps were lifted in the UK.

Filings covering Goldman Sachs International’s (GSI) first-quarter earnings show that it built up a $735m (£580m) pay pool in the three months to March, averaging out at about $218,000 (£170,000) each for its 3,359 staff, the bulk of whom are based in London.