Bankers working for Goldman Sachs are set to share a pay and bonus pot of 12.3 billion.

The investment bank, which employs 5,500 UK staff, reported a 65% rise in profits during the second quarter of 2009.

The bank has dedicated 49% of its revenue for the payment of its 29,200 staff worldwide, meaning the average remuneration for each staff member could total as much as $900,000 (£555,480).

The news comes despite the bank borrowing $10 billion in federal aid from the US government to survive the recession.