Goldman Sachs Sets Aside $16.2 Billion to Pay Staff

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Goldman Sachs Group Inc., facing criticism from politicians and labor unions for near-record compensation, set aside $16.2 billion to pay employees, the smallest portion of revenue since the firm went public in 1999.  The amount, 35.8 percent of revenue, is enough to pay each of the 32,500 employees $498,246. That compares with an average pay of $316,928 a year earlier and is down from the record $661,490 in 2007.

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