Goldman Sachs Group’s compensation and benefits expense fell 5 percent to $15.4 billion in 2010 as the firm’s revenue decreased 13 percent and the number of employees climbed.

The amount, equal to 39 percent of revenue, is enough to pay each of the firm’s 35,700 employees $430,700, according to a statement today from the New York-based bank. That’s down 14 percent from an average of $498,246 a year earlier.