Goldman Sachs compensation pot just under half its revenue

Goldman Sachs has paid its employees $5.5bn (about £3.6bn) in compensation and bonuses after it announced profits had doubled on the same period last year.

The investment bank also revealed its compensation pot was equivalent to 43% of its revenue, down from 50% over the same period last year.

The bank announced first quarter net earnings of $3.46bn (£2.25bn) for the three months to March 2010, up from $1.8bn (£1.2bn) a year ago.

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