Comment on The 3,300 employees of an oil trading firm each made almost $800,000 last year – way more than Wall Street bank staff

The 3,300 employees of an oil trading firm each made almost $800,000 last year – way more than Wall Street bank staff

Vitol Group is based in Switzerland.Denis Balibouse/Reuters Commodity and energy trader Vitol Group made net profits of $15.1 billion in 2022, per Bloomberg. Its 3,300 employees were paid an average of $785,000 – nearly double the sum for the previous year. The salary and bonus figure dwarfs the average earnings of staff at big Wall Street banks. Staff at Vitol Group received huge raises this year after the oil trading firm posted a record profit of $15.1 billion.Vitol's 3,311 staff each earned an average of $785,000 in salary and bonuses, according to Bloomberg, up from $394,000 in 2022.Their pay vastly outstrips the average compensation at Wall Street banks such as Goldman Sachs and Morgan Stanley that paid an average of $312,000 and $280,000 respectively last year.Vitol owes its huge profits to surges in the energy and commodity markets sparked by Russia's invasion of Ukraine early last year.

 

Comment On This Story

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Business News