Bonus, I don't need no stiinkin' bonus, except...

[redduck]

I read in the paper the average yearly bonus at Goldman Sachs was $660,000 for 2007. Bear Stearns total compensation per employee was $241, 000. Screw them, I'd rather work at Goldman Sachs. However, the question is, does anybody here have any idea what sort of a bonus the "little people" (i.e. secretaries, receptionists, gofers)? receive at Goldman Sachs?

 

[FinanceDude]

Usually, 20-25%, depending on whether the "team" they were assigned to hit their goals.

So the secretary who makes $40,000 a year gets about $9-$10,000.

 

[saluki9]

I have a client who is a managing director (Used to be called Partners) and Goldman Sachs.

She said the median secretary who already makes $35-90K depending on seniority will get $30K. What shocked me was the $110K bonus for junior Analysts on top of a base of 80-110K. These are for kids who just graduated college.

 

[clifp]

I have a client who is a managing director (Used to be called Partners) and Goldman Sachs.

She said the median secretary who already makes $35-90K depending on seniority will get $30K. What shocked me was the $110K bonus for junior Analysts on top of a base of 80-110K. These are for kids who just graduated college.

I wonder if the analysts for SIV, CDO and other credit instruments got bigger or smaller bonus. Still you got a love a industry which can manage to collective lose perhaps a trillion dollars (which even by Uncle Sam standards qualifies a real money) and still find enough to pay kids out of college $200K or 4x the median income.

 

[citrine]

Yikes! I am working for the wrong company!!!!
I get about $1200 and our bonus this year is being given out in march 2008.

 

[Dawg52]

Hey Brewer, I highly recommend sending a resume to Goldman.

 

[Nords]

Hey Brewer, I highly recommend sending a resume to Goldman.

Yes, but then he'd have to actually work in that kind of environment.

They're well-paid for a reason, and it's only money...

 

[saluki9]

I wonder if the analysts for SIV, CDO and other credit instruments got bigger or smaller bonus. Still you got a love a industry which can manage to collective lose perhaps a trillion dollars (which even by Uncle Sam standards qualifies a real money) and still find enough to pay kids out of college $200K or 4x the median income.

Goldman has a team that trades MBS. They made hundreds of millions of dollars in the last couple of months by going short on sub prime ABS. Of course at the same time in another dept they were originating new CDOs and selling them to clients which does sort of raise an ethical questions. I think the WSJ had something about this a couple weeks ago.

The person I know there also works in fixed income, but not in trading. She's been there are 12 years and still works a hellish schedule. That being said her bonus is well into seven figures which I'm sure numbs the paid of all those hours a little bit.

Also, don't compare goldman to the rest of the industry. They're operating on a different playing field than just about anybody else.

 

[Nords]

Goldman has a team that trades MBS. They made hundreds of millions of dollars in the last couple of months by going short on sub prime ABS. Of course at the same time in another dept they were originating new CDOs and selling them to clients which does sort of raise an ethical questions. I think the WSJ had something about this a couple weeks ago.

"Hi, Goldman here, I'd like to know if your clients are willing to loan me any sub-prime ABSs to short today. Oh, really, they all are? Where'd they get them from? They did?!? Hunh, never mind, I'll have to check out a couple things over here. I'll call you back later-- thanks!"