Goldman Sachs’ compensation and benefits’ spend was down 9% in the second quarter of 2012, compared to the same period in 2011.

The figures were published in the global investment and securities firm’s 2012 second quarter report.

The accrual for compensation and benefits expenses, which includes salaries, estimated year-end discretionary compensation, amorisation of equity awards and other benefits, was US $2.92 billion for the second quarter of 2012.

The ratio of compensation and benefits to net revenues for the first half of 2012 was 44%.

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