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Headcount at Goldman Sachs in Frankfurt has more than doubled.

This is how much Goldman Sachs pays in Frankfurt

If you work for Goldman Sachs in London and are tempted to move to Frankfurt, the latest annual report for Goldman Sachs SE offers some pointers: on average, it will be lower - but not by much.

In 2020, Goldman Sachs Bank Europe SE had 556 employees, up from just 243 in 2019. The bank spent €114m compensating them - an average of €205k ($237k) per head. This is considerably less than the $523k Goldman pays its staff in London. 

Goldman's Frankfurt-based risk-taking employees earn more, although there aren't many of them. Just 40 of the bank's employees in Frankfurt are categorized as “risk-takers,” and 24 of them are members of the Frankfurt senior management committee. These 24 received average salaries of €540k last year, plus restricted stock bonuses of €1.5m each. 

The other 16 risk-takers at Goldman Sachs in Frankfurt earned salaries averaging €340k last year, plus cash bonuses averaging €189k per capita, plus restricted stock units averaging of €722k each. 

There may be extra too: Goldman states that its Frankfurt risk-takers are entitled to additional ancillary payments "which are not included in the published information." 

Goldman has a new office in Frankfurt's Marien tower, where it can accommodate 700 people. 

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Photo by Christian Waske on Unsplash

AUTHORSimone Dyllick-Brenzinger Insider Comment

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