In the News: Wow…Now That’s Compensation!
After reporting a chart-topping and record-breaking quarter, Goldman Sachs is rumored to be leaning towards paying their biggest bonuses ever. Of course it is still early over at the sunny corner of town (Goldman HQ, of course), but assuming Q3 and Q4 follow suit, or at least hold their own and don’t completely fall apart, Goldmanites should enjoy bonuses hearty enough for two. Historically, Goldman has paid less out than the rest of the Street (on a bonus to revenue ratio basis, obviously not on a whole dollar basis) – probably since Goldman earned so much more, and the Street wanted to try to keep up with incentives – however, all of that is about to change as the whispers have foretold of Goldman’s plan to kick up the % from 43% or so, to 49% (in line with the Street). This 49% could mean that Goldman will pay bonuses totaling over $20 billion to a workforce that has been reduced by an overall 1% since last year (again, we’re only half way through the reporting year so things can change – but damn that is some sweet action).
http://www.businessinsider.com/goldman-is-paying-itself-even-more-than-2007-record-bonuses-2009-7
Goldman Riding High…
It would be nice to have a ranking with the bonus, base salary and hours worked across different IB’s around the world.
That would be pretty hard to do considering different banks, locations, groups, and teams within groups all have different hours (not to mention swings in the economy can suddenly make one group hell, and another heaven). Since bonuses have been pretty modest for analysts this year, there isn’t much news out, but I can definitely see what I can find on base, bonus, etc and put an article together on that soon.
That would be great. I know that is difficult to get that data, so I was thinking of something that evoluted over time as information became available like a table or something and where readers could participate by submiting data.