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Goldman reportedly boosting junior staff salaries by 20%

  • Junior bankers at Goldman Sachs (GS -0.1%) - where they are known to put in 100-hour work weeks - could see more than a 20% raise next year, reports the NYPost. The paper's source says no changes are planned for how much staff could make from bonuses.
  • The move comes following Goldman's decision to begin giving analysts Saturdays off (if you don't come in on Saturday, don't even think about coming in on Sunday). Morgan Stanley last month reportedly boosted salaries for mid-level staff by up to 25%, and BofA has taken steps to make sure analysts and associates take at least four weekend days off per month.
Comments (10)
  • J Mintzmyer
    , contributor
    Comments (3738) | Send Message
     
    Such a ridiculous work culture. "Omg my Excel model is soooo much better because I came in on Saturday and brown-nosed around..."

     

    Pay increases honestly are probably not necessary, but weekends off-- holy cow-- what an idea!!
    20 Aug 2014, 11:09 AM Reply Like
  • SpoiledRottenBrat
    , contributor
    Comments (634) | Send Message
     
    Goldman Sachs has $1.5 Trillion under management worldwide and are domiciled in many tax havens. Founded in 1991, Goldman Sachs (Cayman) Trust Limited provides full offshore fund administration and shareholder services, primarily for hedge funds utilising Goldman Sachs & Co as the prime broker.

     

    http://bit.ly/1qgfLSj

     

    http://bit.ly/1wjnYp5

     

    Goldman Sachs (Cayman) Trust, Limited operates as a subsidiary of Goldman Sachs (Cayman) Holding Company – providing services to “in-house” clients and executives!
    20 Aug 2014, 11:29 AM Reply Like
  • SpoiledRottenBrat
    , contributor
    Comments (634) | Send Message
     
    Goldman Sachs has $1.5 Trillion under management worldwide and are domiciled in many tax havens. Founded in 1991, Goldman Sachs (Cayman) Trust Limited provides full offshore fund administration and shareholder services, primarily for hedge funds utilising Goldman Sachs & Co as the prime broker.

     

    http://bit.ly/1qgfLSj

     

    http://bit.ly/1wjnYp5
    20 Aug 2014, 11:29 AM Reply Like
  • User 8322071
    , contributor
    Comments (20) | Send Message
     
    There is no one senior to brown nose with on a Saturday. They aren't there.
    20 Aug 2014, 11:31 AM Reply Like
  • User 8322071
    , contributor
    Comments (20) | Send Message
     
    There is no one senior to brown nose with on a Saturday. They aren't there.
    20 Aug 2014, 11:31 AM Reply Like
  • psychological-dividends
    , contributor
    Comments (805) | Send Message
     
    Well the more money they make, I'm sure the more money their clients lose.
    20 Aug 2014, 11:40 AM Reply Like
  • Nikolaos Chasanis
    , contributor
    Comments (2) | Send Message
     
    Free markets and freedom on market makers ;ppp not compliant really!
    20 Aug 2014, 12:01 PM Reply Like
  • Nikolaos Chasanis
    , contributor
    Comments (2) | Send Message
     
    Free market logic aint freedom when you're a marketmaker as most traders tend to see GS!
    20 Aug 2014, 12:01 PM Reply Like
  • LDeneault
    , contributor
    Comments (23) | Send Message
     
    And new coal scuttles all around!
    20 Aug 2014, 12:02 PM Reply Like
  • Anyoption
    , contributor
    Comments (496) | Send Message
     
    Soon they'll be announcing 50% pay increases for seniors
    20 Aug 2014, 05:36 PM Reply Like
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