Goldman Sachs' turn on bonuses after better-than-expected fourth quarter earnings

Goldman Sachs' local staff will be told of their bonuses payments on Thursday.
Goldman Sachs' local staff will be told of their bonuses payments on Thursday. AP

Local employees at Goldman Sachs are learning of their bonus payments on Thursday. 

That follows JPMorgan's bonus day on Wednesday, Citigroup on Monday and Morgan Stanley last week. 

Payments for work done in 2016 are broadly down on last year across the industry by as much as 15 per cent. But junior staff are said to fared better across most of the US banks. 

Bonus day at Goldman in Australia comes after the global bank reported a better-than-expected fourth quarter profit result. 

Net income at Goldman climbed to $US2.35 billion ($3.13 billion), from $US765 million a year earlier, when the firm was hit by a mortgage settlement.

Goldman's compensation ratio increased to 38.1 per cent for 2016, up from 37.5 per cent a year earlier.

The bank has been among those restructuring and cutting costs. The most recent financials showed that Goldman's 2016 revenue was the lowest in five years.