FACTBOX-U.S. banks' revenue vs employee compensation

NEW YORK, Jan 21 (Reuters) - Goldman Sachs (GS.N) employees were the best paid
on Wall Street for 2009, receiving an average of nearly $500,000 apiece, even if the
bank devoted a much smaller percentage of its revenue to compensation for the year.

Comparing Goldman's average compensation to that of its peers is difficult,
because banks with retail branches, for example, may have more employees that
receive comparatively low pay, reducing the overall average.

The largest U.S. banks have reported a jump in investment banking revenues from
a year ago but, facing mounting public outcry and political pressure, many have
scaled down the proportion of profits they pay employees.

At Goldman Sachs, for example, while 2009 revenue increased 103 percent, its
total compensation split between its total employees increased just 44 percent.

Bankers' pay has become a hot-button issue since the U.S. government spent
billions to stabilize the industry amid the financial crisis.

The median U.S. household income in 2008 was about $52,000.

For a graphic on banks' compensation and revenue per employee, click on:

link.reuters.com/myn94h

2009 2008 Pct change

Bank of America Corp (BAC.N)

Net revenue $119.6 bln $72.8 bln 64

Compensation and benefits expense $31.5 bln $18.4 bln 72

Number of employees, end Q4* 283,717 240,202 18

Revenue per employee $421,600 $303,000 39

Compensation, benefits per employee $111,100 $76,500 45

Citigroup (C.N)

Net revenue $80.3 bln $51.6 bln 56

Compensation and benefits expense $25.0 bln $31.1 bln 20

Number of employees, end Q4 265,000 323,000 -18

Revenue per employee $303,000 $160,000 90

Compensation, benefits per employee $94,000 $96,000 -2

Goldman Sachs Group (GS.N)

Net revenue $45.2 bln $22.2 bln 103

Compensation and benefits expense $16.2 bln $10.9 bln 48

Number of employees, end Q4 32,500 31,700 3

Revenue per employee $1.4 mln $701,000 98

Compensation, benefits per employee $498,200 $344,900 44

JPMorgan Chase & Co (JPM.N)**

Net revenue $28.1 bln $12.3 bln 128

Compensation and benefits expense $9.3 bln $7.7 bln 21

Number of employees, end Q4 24,600 27,900 -12

Revenue per employee $1.1 mln $441,500 158

Compensation, benefits per employee $378,600 $278,600 37

Morgan Stanley (MS.N)

Net revenue $23.4 bln $18.2 bln 28

Compensation and benefits expense $14.4 bln $11.1 bln 31

Number of employees, end Q4*** 61,400 45,300 36

Revenue per employee $380,500 $402,600 -5

Compensation, benefits per employee $235,200 $244,000 -4

* 2009 figures include employees added through acquisition of Merrill Lynch &
Co

** Figures only reference JPMorgan's investment bank

*** 2009 figures include Smith Barney employees added through joint venture with
Citigroup

(Reporting by Elinor Comlay; Editing by Richard Chang)