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Goldman indicates it will pay biggest bonuses ever in 2009
22 June 2009By Sarah Butcher
COMMENTS
In deine face my DB friends.. Read all comments »Following closely behind last week’s suggestion that $10m bonuses are going to resurface soon, is the claim, in yesterday’s Observer, that Goldman Sachs has primed its employees to expect the largest bonuses in the firm’s history this year.
The paper cites ‘insiders,’ who say the firm has benefited from a lack of competition and soaring FICC revenues. Staff were apparently briefed on the good news last week.
If the success of the first quarter continues for the next three, the average Goldman man/woman can expect to earn $675k in 2009.
Average comp per head, Goldman Sachs, 2006-2009e
COMMENTS
Muhammed, Debt / Fixed Income, Mon 22 Jun 09
Oh what wonderful news, praise be to Allah.
Add your comment »DB Trader, Trading, Mon 22 Jun 09
Exactly the same story here actually - indication from Head of Trading that 2009 bonuses will exceed 2007 if we keep this up.
Add your comment »Henrynotwannabe, HR & Recruitment, Mon 22 Jun 09
Is each Goldman man/woman the new Henry?
Add your comment »GS OptionsVirtuoso, Trading, Mon 22 Jun 09
Role: FX Options Trading analyst (22 yr old):
Total 2008 compensation (as 1st year analyst): £95700
Expected 2009 Total Compensation (as 2nd Year analyst): £100000+
Don't worry about the financial crisis, just be good at what you do and you'll be equally rewarded.!!!!!
Henry, FX & Money Markets, Mon 22 Jun 09
OptionsVirtuoso, you can expect over £150k this year. Congratulations, very well deserved mate.
Add your comment »Joe Eifrid, Public Sector, Mon 22 Jun 09
Insiders say profits are soaring due to a surge in revenues from trading foreign currency, bonds and fixed-income products and a lack of competition. Reference Link :theflyonthewall.com
http://www.guardian.co.uk/business/2009/jun/21/goldman-sachs-bonus-payments
The fox is in charge of the hen house. How does Goldman get away with this? Look at this report on 'Program Trading' from the NYSE.
http://www.nyse.com/pdfs/PT060109.pdf
Goldman accounts for a full 25% of all program trading taking place in the market. In this particular week 56.6% of ALL shares traded were involved in PROGRAM trades.
(NYSE defined program trade is a trade that is valued at over $1million dollars, that includes 15 or more stocks. )
Think some well timed futures buys and some strategic program trades to the tune of 25% of those being dome might help Goldman Sachs control the market and earn quasi-monopoly profits? I think so.
Joe Eifrid