Stock, not cash, bonus for Goldman bosses

The global financial services major Goldman Sachs' top executives are likely to receive their annual bonus in stock this year rather than cash, according to a media report.

Goldman Sachs chief executive Lloyd Blankfein is weighing plans to increase the share of compensation paid in equities in a move to quell public anger over hefty pay packages given to employees, the British daily Financial Times reported on Friday.

Senior executives, including Blankfein, could be awarded annual bonuses in company stocks, the FT said, citing people familiar with Goldman's thinking, adding many of its 31,700 staff may also receive more of their annual bonus in deferred stock or options.

The Goldman employees currently receive as much as 75 per cent of their annual bonuses in restricted stocks or options, the report added.

Goldman's stunning recovery this year is expected to restore the pay of many of its bankers and traders to the pre-crisis levels. During the first nine months of this year, Goldman performed extremely well and earned $12.5 billion.

The report noted that the Goldman managers this week began the month-long process of setting their employees' pay. Those numbers would be finalised in January once the bank's books close. The company board will vote next month on the compensation of top executives.