Tuesday, November 29, 2005

Please, Sir, I Want Some More - How Goldman Sachs is Carving Up its $11 Billion Money Pie

New York Magazine has an interesting look at Wall Street bonuses.

Please, Sir, I Want Some More - How Goldman Sachs is Carving Up its $11 Billion Money Pie: "The standard portion of net revenue (total revenue minus interest expense) earmarked for compensation at Wall Street firms stands at an astonishing 50 percent. That?s because talent is the most precious commodity on Wall Street; it?s what they sell, so it?s also what they have to pay for."

"With all senior managers of Goldman taking home a $600,000 salary, an equal split of 30 percent of $1.65 billion would be worth almost $2 million, pushing their pay into the neighborhood of $2.6 million."

I always hate these articles as they always remind me how little I make. Oh well. LOL


The Unknown Professor said...

But think of the non-monetary compensation of the job... like committee meetings and grading exams.

Seriously, this job beats just about anything else. At a recent conference, I heard someone say that being a finance prof is the third best job in the world (after "rock star" and "professional baseball player")

Gualberto Diaz said...

I read that article last week and I think its crazy, yet it is justified. These guys that make millions of dollars for the company are vital and deserve the big piece of the pie. What these guys have is an instinct you can't teach. The only way the banks could keep them there is with large sums of money.

The moneymakes are the irreplaceable ones, everyone else is expendable.

Gualberto Diaz

FinanceProfessor said...

OH definitely, being a FinanceProfessor is great...well except for exams and meetings...lol...but third? Have to think about that...although I am having a difficulty coming up with others...unless I say professional runner, biker, triathlete, etc... :)

alberthaanstra said...

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Groetjes Albert

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