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Goldman earmarks compensation of $542,000 per employee
09-14-2006, 04:20 PM
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#1
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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Goldman earmarks compensation of $542,000 per employee
Quote:
Sept. 12 (Bloomberg) -- Goldman Sachs Group Inc., Wall Street's most profitable firm, said it earmarked as much as $542,000 in pay per employee for the first three fiscal quarters, already beating the total for the whole of last year. * *Goldman set aside $13.9 billion in compensation for its 25,647 employees, compared with $11.7 billion for 22,425 employees at the end of last year.
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Merrill earmarked $260,000 per employee for just the first nine months of 2006.
I guess what we need are some more of these "low paying service jobs"
PS I know the median salary is a lot lower than the average
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Re: Goldman earmarks compensation of $542,000 per employee
09-14-2006, 05:39 PM
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#2
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Full time employment: Posting here.
Join Date: Oct 2003
Posts: 961
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Re: Goldman earmarks compensation of $542,000 per employee
From newyorkmetro.com:
Please, Sir, I Want Some More: How Goldman Sachs is carving up its $11 billion money pie.
It's nice to know what the devil is paying his minions.
- Alec
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Re: Goldman earmarks compensation of $542,000 per employee
09-14-2006, 08:22 PM
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#3
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Thinks s/he gets paid by the post
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,455
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Re: Goldman earmarks compensation of $542,000 per employee
__________________
May we live in peace and harmony and be free from all human sufferings.
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Re: Goldman earmarks compensation of $542,000 per employee
09-14-2006, 08:53 PM
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#4
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Full time employment: Posting here.
Join Date: May 2006
Posts: 859
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Re: Goldman earmarks compensation of $542,000 per employee
GS made all that money going head to head against hedge funds. Its all a zero sum game... someone going to come out hurting bigtime.
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Re: Goldman earmarks compensation of $542,000 per employee
09-15-2006, 07:59 AM
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#5
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Thinks s/he gets paid by the post
Join Date: Feb 2005
Posts: 2,032
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Re: Goldman earmarks compensation of $542,000 per employee
I guess my only comment would be good for them!
I'm always happy to hear about somebody else doing well
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Re: Goldman earmarks compensation of $542,000 per employee
09-15-2006, 08:12 AM
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#6
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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Re: Goldman earmarks compensation of $542,000 per employee
I wonder if Brewer is making $500k per year?*
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Retired 3/31/2007@52
Investing style: Full time wuss.
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Re: Goldman earmarks compensation of $542,000 per employee
09-15-2006, 08:25 AM
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#7
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Re: Goldman earmarks compensation of $542,000 per employee
Quote:
Originally Posted by DOG52
I wonder if Brewer is making $500k per year?*
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I wish. No clue what it will be until late December. Lots of trading days between now and then...
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"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
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Re: Goldman earmarks compensation of $542,000 per employee
09-15-2006, 04:24 PM
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#8
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Re: Goldman earmarks compensation of $542,000 per employee
Quote:
Originally Posted by Spanky
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In many instances someone (and usually a sophisticated someone) is paying them for those services (e.g. investment banking, financing, primary and secondary market execution, etc.). Those folks must think the service is worth the fee.
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Retired early, traveling perpetually.
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Re: Goldman earmarks compensation of $542,000 per employee
09-15-2006, 04:48 PM
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#9
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Thinks s/he gets paid by the post
Join Date: Aug 2005
Posts: 1,375
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Re: Goldman earmarks compensation of $542,000 per employee
My advice: work 5-10 years at Goldman, and retire! (or become Treasury Sec'y, of you prefer)
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You can't always get what you want, but if you try sometimes, you might find you get what you need.
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Re: Goldman earmarks compensation of $542,000 per employee
09-15-2006, 04:58 PM
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#10
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Re: Goldman earmarks compensation of $542,000 per employee
Quote:
Originally Posted by 3 Yrs to Go
In many instances someone (and usually a sophisticated someone) is paying them for those services (e.g. investment banking, financing, primary and secondary market execution, etc.).* Those folks must think the service is worth the fee.
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Probably not... it is just there are not that many players that can do mulit-billion dollar transactions... and their fees are similar
And then when you look at their fee based on the total transaction cost it is 'reasonable'...
kind of like the RE agent.. you think they are paid way to much if you house sells in a few days.. .but you can not get it any cheaper with anybody else..
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Re: Goldman earmarks compensation of $542,000 per employee
09-15-2006, 05:19 PM
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#11
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Re: Goldman earmarks compensation of $542,000 per employee
Quote:
Originally Posted by Texas Proud
Probably not... it is just there are not that many players that can do mulit-billion dollar transactions
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Isn't the definition of "value added" when you can do something that few others can?
As far as the realtor’s fee, you need not use one to sell your house. If you are paying the fee you must think the service is worth the cost. Otherwise you would go the "For Sale by Owner" route.
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Retired early, traveling perpetually.
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Re: Goldman earmarks compensation of $542,000 per employee
09-15-2006, 09:53 PM
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#12
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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Re: Goldman earmarks compensation of $542,000 per employee
Quote:
Originally Posted by 3 Yrs to Go
Isn't the definition of "value added" when you can do something that few others can?
As far as the realtor’s fee, you need not use one to sell your house. If you are paying the fee you must think the service is worth the cost. Otherwise you would go the "For Sale by Owner" route.
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Yes.. it is 'value added', but at a high cost.. and as I said the ones that can charge about the same fee.. just like RE agents..
AND, if you want to, you can issue your debt or stock without a lead broker taking their cut.. it is that no company wants to do it as it is just a cost of business.. and it is not thier money, but the stockholders and who cares about them... and also like I said.. it is a small amount of the whole transaction (sometimes as low as 2%).. but 2% of a billion here and there add up..
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Re: Goldman earmarks compensation of $542,000 per employee
09-17-2006, 03:49 PM
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#13
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Full time employment: Posting here.
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Re: Goldman earmarks compensation of $542,000 per employee
If I was starting my career now, I'd go to work with a private equity group (PEG; venture capitalists) ... very lucrative, provides a real service, nice equity upside, learn a great deal about buying, selling and to some extent running businesses. Also provides capital to deserving smaller companies. Interesting career.
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Re: Goldman earmarks compensation of $542,000 per employee
09-18-2006, 08:12 AM
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#14
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Thinks s/he gets paid by the post
Join Date: Feb 2005
Posts: 2,032
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Re: Goldman earmarks compensation of $542,000 per employee
Quote:
Originally Posted by Charles
If I was starting my career now, I'd go to work with a private equity group (PEG; venture capitalists) ... very lucrative, provides a real service, nice equity upside, learn a great deal about buying, selling and to some extent running businesses. Also provides capital to deserving smaller companies. Interesting career.
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The career track for that field for most applicants starts with 3-5 years in I Banking in order to learn the deal making process
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Re: Goldman earmarks compensation of $542,000 per employee
09-18-2006, 01:30 PM
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#15
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Moderator Emeritus
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Re: Goldman earmarks compensation of $542,000 per employee
Quote:
Originally Posted by Charles
If I was starting my career now, I'd go to work with a private equity group (PEG; venture capitalists) ... very lucrative, provides a real service, nice equity upside, learn a great deal about buying, selling and to some extent running businesses.* Also provides capital to deserving smaller companies.* Interesting career.
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Sounds like the Chinese curse "May you live in interesting times."
Too many people confuse outrageously high salaries with continuity of employment. However the "unemployment insurance" is built right into the paychecks...
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