Goldman Sachs - Executive Compensation

[johnjbruin]

Very amazing numbers. Best performance of wall street. Simply amazing.

When Goldman Sachs disclosed that it would pay Lloyd C. Blankfein, its chairman and chief executive, a $53.7 million bonus for 2006, heads turned on Wall Street and beyond. Even in a year of plenty for financial firms, Mr. Blankfein?s paycheck set a record for Wall Street chiefs. Now it appears that the new runners-up in the compensation race are Mr. Blankfein?s own lieutenants.

Goldman Sachs said in a regulatory filing Wednesday that it had paid Gary D. Cohn and Jon Winkelried, the firm?s co-presidents and co-chief operating officers, about $52.5 million each in bonuses for its 2006 fiscal year.

That figure includes $26.7 million in cash bonuses, $15.4 million in restricted stock and what the bank estimated was $10.3 million worth of stock options.

Article


Link to SEC Filing

 

[JeffreyLebowski]

And who says services aren't over priced. Where are the bonuses for the people that actually worked with "customers" and made that money for the company?

 

[iamwiz82]

They deserve it, they had record profits last year, even though the average employee makes $600,000 there.

 

[ViviTheMage]

Originally posted by: iamwiz82
They deserve it, they had record profits last year, even though the average employee makes $600,000 there.

amazing!

 

[SuperNaruto]

not true.. ur avg joe schmo back office right out of college did not make 600k

 

[SacrosanctFiend]

Originally posted by: JeffreyLebowski
And who says services aren't over priced. Where are the bonuses for the people that actually worked with "customers" and made that money for the company?

I don't think they deserve as much money as someone who runs the entire damn company. But, hey, my opinion doesn't mean much.

 

[austin316]

no they make like 100,000 and put in 100 hours a week.

 

[iamwiz82]

Originally posted by: SuperNaruto
not true.. ur avg joe schmo back office right out of college did not make 600k

Obviously the definition of the word "average" eludes you.

 

[GTaudiophile]

Originally posted by: SuperNaruto
not true.. ur avg joe schmo back office right out of college did not make 600k

My best friend was hired out of college by GS. I think he started in the mid-100s. He's been there about 4 years now and makes circa. mid-300s and (additionally) gets over $100K in bonuses per year. And he's not even a VP yet. I think he'll hit VP this year and his salary will jump to like $750K a year I think.

 

[Special K]

Originally posted by: iamwiz82
They deserve it, they had record profits last year, even though the average employee makes $600,000 there.

If it's that easy then why isn't everyone working in this industry?

 

[waggy]

Originally posted by: iamwiz82

Originally posted by: SuperNaruto
not true.. ur avg joe schmo back office right out of college did not make 600k

Obviously the definition of the word "average" eludes you.

look at his post. Does the fact he does not understand what "avarage" is?

 

[BigJ]

Originally posted by: Special K

Originally posted by: iamwiz82
They deserve it, they had record profits last year, even though the average employee makes $600,000 there.

If it's that easy then why isn't everyone working in this industry?

I think his point was that even though they pay their employees so much, they still continue to have record profits. As opposed to cutting salaries to try to maximize profits.

 

[iamwiz82]

Originally posted by: BigJ

Originally posted by: Special K

Originally posted by: iamwiz82
They deserve it, they had record profits last year, even though the average employee makes $600,000 there.

If it's that easy then why isn't everyone working in this industry?

I think his point was that even though they pay their employees so much, they still continue to have record profits. As opposed to cutting salaries to try to maximize profits.

Exactly. Either they are very good at what they do, or they cheat very well. 😛

 

[thegimp03]

Originally posted by: Special K

Originally posted by: iamwiz82
They deserve it, they had record profits last year, even though the average employee makes $600,000 there.

If it's that easy then why isn't everyone working in this industry?

Obviously, there are certain drawbacks. I have friends in i-banking and they work 85 hours a week on average and they have worked 100-115 before. Yeah, they make a ton of money, relative to most other people, but the toll it takes on their personal life is amazing. They have none.

 

[ScottFern]

I wish I could reach filthy rich status.

 

[waggy]

Originally posted by: ScottFern
I wish I could reach filthy rich status.

well you can get half way there! go play in the mud!

 

[jman19]

Originally posted by: SuperNaruto
not true.. ur avg joe schmo back office right out of college did not make 600k

And how is the company noob the "avg" employee, exactly?