Workers at Goldman Sachs have racked up an average $527,192 (£324,607) in salary and bonuses so far this year after the American investment bank made a $3.1 billion profit in the third quarter.

Average pay for staff at the group, which employs around 5,500 staff in London, is 46 per cent higher compared to last year. The news is likely further to enrage taxpayers who blame excessive risk-taking by banks for the global recession.

So far, over the first nine months of its financial year, Goldman Sachs has set aside $16.7 billion to compensate its 31,700-strong global workforce — a 46 per cent rise in the same period in 2008. The bank needs to top $21 billion to match the bumper bonus year of 2007.

In the most recent quarter, covering the three months to September 25, Goldman Sachs ring-fenced $5.3 billion for salary and bonuses, which is a rise of 84 per cent in the third quarter last year.

The sharp rise in pay has been revealed amid the first criminal case of the credit crunch which is continuing today.

Two Bear Stearns managers, Ralph Cioffi, 53, and Matt Tannin, 48, are on trial accused of securities fraud after their hedge funds imploded in 2007, signalling the start of the crisis.