NEW YORK ( CNBC) -- Although it seems like a tough week for Wall Street paychecks, partners at Goldman Sachs ( GS) are probably not fretting. Sure, Goldman cut its overall accrual for employee pay and benefits in the first quarter by 16%. But the amount of compensation per partner appears to have declined by far less--just about two-thirds of 1%, by my calculation. Goldman set aside $4.4 billion for benefits and compensation in the first quarter of 2012, a 16% decline from last year's $5.23 billion first-quarter compensation figure.
By John Carney, Senior Editor, CNBC.com
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