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bella
LIF Adult
Member since 5/05 1871 total posts
Name:
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End of year bonuses-GOLDMAN SACHS!!
Holy Cr*p...just saw online they are giving out over $16 BILLION, yes that is correct BILLION ---an average of over $600,000 per employeee....I am definitely NOT in the right field and definitely NOT working for the right company. Congrats to anyone that works for them.....sounds like they really, really ,really reward their employees!
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Posted 12/14/06 12:50 PM  |
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Long Island Weddings
Long Island's Largest Bridal Resource |
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Re: End of year bonuses-GOLDMAN SACHS!!
I used to work for a woman who did work for them on the side. She is going to have a nice Hannukah this year!
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| Posted 12/14/06 12:51 PM |
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Kate07
Feel better my little guy!
Member since 5/05 4476 total posts
Name:
Kate
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Re: End of year bonuses-GOLDMAN SACHS!!
I'm still amazed.
Link
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| Posted 12/14/06 12:53 PM |
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Re: End of year bonuses-GOLDMAN SACHS!!
I want to  right now after reading that..
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| Posted 12/14/06 12:55 PM |
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SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name:
Lauren
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Re: End of year bonuses-GOLDMAN SACHS!!
I know, I saw that, its incredible!!
They don't only do it out of generousity, though, they do it for a tax break.
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| Posted 12/14/06 12:57 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: End of year bonuses-GOLDMAN SACHS!!
most of it goes to the top guys- in the millions each- I think one guy gets $50M
the average work there doesn't not get anywhere near that
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| Posted 12/14/06 1:10 PM |
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SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name:
Lauren
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Re: End of year bonuses-GOLDMAN SACHS!!
Posted by Beth1210
most of it goes to the top guys- in the millions each- I think one guy gets $50M
the average work there doesn't not get anywhere near that
no the average worker only gets $600,000.
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| Posted 12/14/06 1:14 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: End of year bonuses-GOLDMAN SACHS!!
Posted by SweetTooth
Posted by Beth1210
most of it goes to the top guys- in the millions each- I think one guy gets $50M
the average work there doesn't not get anywhere near that
no the average worker only gets $600,000.
I saw it on the news last night and there is another post about- they just took the $16.5M and divided it by the number of workers- it's very misleading
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| Posted 12/14/06 1:15 PM |
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TheLorax
LOVE
Member since 2/06 5581 total posts
Name:
Suzanne / SuzBride
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Re: End of year bonuses-GOLDMAN SACHS!!
Posted by SweetTooth
only gets $600,000.
 Lucky!
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| Posted 12/14/06 1:16 PM |
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Kate07
Feel better my little guy!
Member since 5/05 4476 total posts
Name:
Kate
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Re: End of year bonuses-GOLDMAN SACHS!!
Posted by SweetTooth
Posted by Beth1210
most of it goes to the top guys- in the millions each- I think one guy gets $50M
the average work there doesn't not get anywhere near that
no the average worker only gets $600,000.
We've been debating this at work ALL morning.
My coworker believes they took the money and divided it to get an average of $600k.
I believe they are saying the average worker is walking away with $622k
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| Posted 12/14/06 1:16 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: End of year bonuses-GOLDMAN SACHS!!
We've been debating this at work ALL morning.
My coworker believes they took the money and divided it to get an average of $600k.
I believe they are saying the average worker is walking away with $622k
according to the news- your co-worker is correct- I saw it on channel 4 last night
most guys- high earners get bonuses in the millions- the average workers get there salary- as a bonus- in addition to there salary
Message edited 12/14/2006 1:19:48 PM.
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| Posted 12/14/06 1:18 PM |
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KGools
Happy
Member since 9/06 9532 total posts
Name:
Kim
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Re: End of year bonuses-GOLDMAN SACHS!!
hmmmm, i wonder if they're hiring!
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| Posted 12/14/06 1:18 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: End of year bonuses-GOLDMAN SACHS!!
link to other post
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| Posted 12/14/06 1:19 PM |
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SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name:
Lauren
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Re: End of year bonuses-GOLDMAN SACHS!!
Posted by Beth1210
We've been debating this at work ALL morning.
My coworker believes they took the money and divided it to get an average of $600k.
I believe they are saying the average worker is walking away with $622k
according to the news- your co-worker is correct- I saw it on channel 4 last night
most guys- high earners get bonuses in the millions- the average workers get there salary
OK, but the average worker probably gets 100,000K + as a salary.... thats a damn good bonus if you ask me.
heck, even if you made 50K - to get your whole salary, or 75% of it???
Message edited 12/14/2006 1:21:53 PM.
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| Posted 12/14/06 1:20 PM |
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lululu
LIF Adult
Member since 7/05 9509 total posts
Name:
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Re: End of year bonuses-GOLDMAN SACHS!!
Posted by SweetTooth
Posted by Beth1210
We've been debating this at work ALL morning.
My coworker believes they took the money and divided it to get an average of $600k.
I believe they are saying the average worker is walking away with $622k
according to the news- your co-worker is correct- I saw it on channel 4 last night
most guys- high earners get bonuses in the millions- the average workers get there salary
OK, but the average worker probably gets 100,000K + as a salary.... thats a damn good bonus if you ask me.
People in the entire financial services industry in NYC are paid well. i would say average professionals at all of the larger (and most of the smaller) banks make $100,000k plus bonus.....
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| Posted 12/14/06 1:22 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: End of year bonuses-GOLDMAN SACHS!!
OK, but the average worker probably gets 100,000K + as a salary.... thats a damn good bonus if you ask me.
heck, even if you made 50K - to get your whole salary, or 75% of it???
$100K salary isn't so great when you work 20 hours a day
I was friends with alot of investment bankers and they were miserable
and $100K bonus isn't $622K- and it's taxed a whole lot different
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| Posted 12/14/06 1:27 PM |
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SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name:
Lauren
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Re: End of year bonuses-GOLDMAN SACHS!!
Posted by Beth1210
OK, but the average worker probably gets 100,000K + as a salary.... thats a damn good bonus if you ask me.
heck, even if you made 50K - to get your whole salary, or 75% of it???
$100K salary isn't so great when you work 20 hours a day
I was friends with alot of investment bankers and they were miserable
and $100K bonus isn't $622K- and it's taxed a whole lot different
OK yeah, I wasn't talking about how difficult their job was, just the amount of the bonus.
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| Posted 12/14/06 1:34 PM |
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Kate07
Feel better my little guy!
Member since 5/05 4476 total posts
Name:
Kate
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Re: End of year bonuses-GOLDMAN SACHS!!
Posted by SweetTooth
OK yeah, I wasn't talking about how difficult their job was, just the amount of the bonus.
Percentage wise it is definitely a good (great) bonus !!!!!
Message edited 12/14/2006 1:36:40 PM.
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| Posted 12/14/06 1:36 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: End of year bonuses-GOLDMAN SACHS!!
OK yeah, I wasn't talking about how difficult their job was, just the amount of the bonus.
sorry- but it is a very demanding, stressful job and that's why the bonus stucture is what it is
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| Posted 12/14/06 1:36 PM |
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Kate07
Feel better my little guy!
Member since 5/05 4476 total posts
Name:
Kate
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Re: End of year bonuses-GOLDMAN SACHS!!
Posted by Beth1210
sorry- but it is a very demanding, stressful job and that's why the bonus stucture is what it is
Very True. I think I said this in my morning post after nov04libride posted about leaving MS
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| Posted 12/14/06 1:38 PM |
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MsG
Should be working
Member since 5/05 2824 total posts
Name:
G
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Re: End of year bonuses-GOLDMAN SACHS!!
I have 3 good friends working there now, and I can never see them. They work from 6AM - 9PM, M-F and go in on weekends too. They have no life outside of work. They are young though, and loving what they do, and have no children (yet) so right now it works for them. One even moved from the UWS to downtown to be closer to his office.
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| Posted 12/14/06 1:40 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: End of year bonuses-GOLDMAN SACHS!!
we were joking one day and we took our starting salaries at Macy's
and divided it by the hours we work
then we took the Morgan Stanley starting salarry and divided it by the hours they worked
and us retail girls were making more an hour!
it's really sad how hard they have to work- even till 2 am on a friday night!
as my DH would say- it's blood money
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| Posted 12/14/06 1:41 PM |
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Lisa
I'm a PANK!!!
Member since 5/05 22334 total posts
Name:
Professional Aunts No Kids
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Re: End of year bonuses-GOLDMAN SACHS!!
Posted by Beth1210
sorry- but it is a very demanding, stressful job and that's why the bonus stucture is what it is
for sure!!
After being in that business for 15+ years...I was glad for a break!!
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| Posted 12/14/06 1:41 PM |
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MrsMerlot
Unconditional Love
Member since 4/06 6005 total posts
Name:
Chrissy
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Re: End of year bonuses-GOLDMAN SACHS!!
I'm at JP Morgan, in the Credit Portfolio Group - working hand and hand w/the traders (revenue workers.)
Here's the way the Financial Services/Investment Banking industry works:
1. A VAST majority of the "employees" (specifically at GS) are CONSULTANTS, which means they are not entitiled to a bonus or benefits. They are also not the ones making the largest percentage of salaries.
2. The large bonuses go to those who are in revenue (profit) making cost centers - ie: traders. They are paid SIGNIFICANTLY more than the majority of the back & middle offices. So when there's (for example) 30 traders, 100 support employees, and the 30 traders get 1 million in bonuses, and the 100 support employees get 1 million - the average is very deceiving.
3. Many of the employees (not consultants) are not paid Overtime. It's a benefit to the company - as Overtime would come in signifcantly MORE than bonuses.
4. Bonuses are TAXED approximately 40-45% - the reported average by companies are BEFORE tax - again very misleading.
5. There are over 30,000 employees working for GS (using them as an example b/c of the OP) - and to say that 600K is the average is COMPLETE nonsense. When you figure there are executives making in the millions as their base, it's not so average.
6. Finally - you can't believe everything you hear.
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| Posted 12/14/06 1:49 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: End of year bonuses-GOLDMAN SACHS!!
Posted by ChrissynRicky
I'm at JP Morgan, in the Credit Portfolio Group - working hand and hand w/the traders (revenue workers.)
Here's the way the Financial Services/Investment Banking industry works:
1. A VAST majority of the "employees" (specifically at GS) are CONSULTANTS, which means they are not entitiled to a bonus or benefits. They are also not the ones making the largest percentage of salaries.
2. The large bonuses go to those who are in revenue (profit) making cost centers - ie: traders. They are paid SIGNIFICANTLY more than the majority of the back & middle offices. So when there's (for example) 30 traders, 100 support employees, and the 30 traders get 1 million in bonuses, and the 100 support employees get 1 million - the average is very deceiving.
3. Many of the employees (not consultants) are not paid Overtime. It's a benefit to the company - as Overtime would come in signifcantly MORE than bonuses.
4. Bonuses are TAXED approximately 40-45% - the reported average by companies are BEFORE tax - again very misleading.
5. There are over 30,000 employees working for GS (using them as an example b/c of the OP) - and to say that 600K is the average is COMPLETE nonsense. When you figure there are executives making in the millions as their base, it's not so average.
6. Finally - you can't believe everything you hear.
exactly my point- yet you said it one million times better and all in 1 post!
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| Posted 12/14/06 1:52 PM |
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