apparently the reporter forgot about Taxes… It’s always great to have half your bonus snapped up by the feds.
Posted by on 12/31/1969 at 03:00 PM
News Flash: Goldman Employees Can Buy Lots of Things
Wednesday, February 08, 2006 - 8:16 am
Someone over at the New York Post must have just learned to use his calculator and is performing some whiz-bang calculations about how far the Goldman bonuses will stretch this year:
Goldman Sachs Group Inc., Wall Street’s most profitable firm, paid employees an average $521,000 each last year, enough to buy 4,000 celebratory bottles of Dom Perignon champagne or seven Porsche 911 Carrera sports cars. Goldman, the No. 2 U.S. securities firm by market value, paid $11.7 billion in compensation to 22,425 employees for the fiscal year that ended in November. Average pay rose 12 percent from the 2004 average and 35 percent from the previous year, according to a Securities and Exchange Commission filing yesterday. Chief Executive Officer Henry Paulson, 59, received $37 million in shares and stock options for 2005.
Old news, baby. In related news, lots of senior Goldman folks are leaving the firm for greener pastures.
Goldman Bonuses Are a Lot of Bubbly [NY Post]
Comments:
I wonder if one could trade free time for money at GS or any bank? Let’s say one wants to spend a weekend with a s.o, it’d be nice if he/she could pay a specific amount to the firm and get it..
Posted by november on 12/31/1969 at 03:00 PM
People forget that although Goldman is a public company it still operates a partner like compensation structure. First of all GS has the famous group of 30. The group of 30 is composed of 30 individuals that take home $30mm a year. This means that you can have 1,800 people getting zippo and the average is still $500,000. Also, junior partners regularly take home $10-15mm a year. The question people should be asking is what is the median compensation at Goldman Sachs
Posted by on 12/31/1969 at 03:00 PM
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