Notes of Note from John F. Ince

Goldman Sachs delivered this years bonus news on Tuesday to partners, directors, vice presidents and analysts. Our reporting reveals that it was very welcome news to almost everyone. Partners this week were old that their 2009 bonus will be paid 60% in stock that will vest over 3 years. Several partners we spoke to seemed happy to get Goldman stock instead of cash.”Cash loses value over time, while Goldman stock gains,” one partner said.Junior employees at the investment bank also saw their pay change. Many vice presidents got bonuses that matched or beat the numbers paid in the record year of 2007, people familiar with the matter said. Whats more, some saw their base pay increase by as much as 50%, reflecting a shift away from bonuses toward salary. The huge payday seems to be having its desired effect.”Its made me rethink everything,” a Goldman Sachs employee said last night. She was sipping champagne. “I like the new structure even better. My monthly take home just went way up.”

via Bonus Watch 2010: Goldman Sachs Pays Huge Bonuses And Gives Junior Bankers A 50% Salary Raise.


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