Goldman Adviser: High Pay Helps Everyone

To Americans that are struggling to make a living, the outrageous amounts of money that Wall Street executives receive in the form of salaries and bonuses seem excessive and unnecessary. However, Brian Griffiths, an international adviser for Goldman Sachs, has stated that such high executive compensation is helpful to all Americans.

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Goldman Sachs is getting ready for a year that will see the company set aside an almost record-setting amount of money for the compensation of its executives. $16.7 billion will go to Goldman employees, an amount that increased 46 percent from a year earlier and one that is enough for every Goldman worker to earn $527,192 for the year.

Griffiths has urged bankers, though, to continue contributing generous amounts of their compensations to charity in order to maintain a positive public image. Still, though, public support for such high levels of compensation, especially at a time when the economy is still recovering, remains low.