Goldman Sachs' 100 UK-based partners are capping their 2009 pay and bonuses at £1m each.
This represents a significant sacrifice of several hundred million pounds and is a gesture Goldmans is exercising the restraint the Chancellor has called for from all bankers, writes the BBC.
However, many executives working in Britain ranked below partner-level will earn much more than £1m each.
The company felt it could not insist these employees take a pay cut as this might have damaged its ability to recruit and retain more able bankers, the BBC reports.
Goldmans’ staff will be told this week precisely how much each of them earned for the firm's near-record trading performance in 2009.
Barclays and RBS have not yet fixed the size of their employees' bonuses. However, Barclays has decided its top executives will receive 75% of their bonuses - and 100% for the most senior people - in staggered payments over three years.
The FSA is vetting all bonus payments worth more than £1m for British-based bankers and insists at least 60% of such payments should be deferred for up to three years.
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