How Goldman Sachs is carving up its $11 billion money pie. (average 500k per employee)

New York Magazine ^

[SDGOP]

Typically, Goldman Sachs’s announcement of its third-quarter results kicks the bonus season into high gear. Long revered for being where the serious money gets made, the firm has had a blowout year even by its own standards. Announcing a record profit in the third quarter, Goldman also noted that it had set aside $9.25 billion, almost $420,000 per employee, in compensation. When fourth-quarter results are factored in, that total could swell to an $11 billion pool, or $500,000 per employee.

[SDGOP]

And the irony is most of these people are libs..

[ncountylee]

OK by me.

[PBRSTREETGANG]

I work in their building in downtown Manhattan. $500,000 per is the average with the lion's share going to traders and execs. However they all stand to do very well, given that my company doesn't give Christmas bonuses.

[Eric in the Ozarks]

Sounds like they reward success. That's what's supposed to happen.

[SDGOP]

I just was trying to highlight the irony. Most libs i know accuse republicans of being greedy bastards yet most of them from the ivy leagues run off to work for i-banks, arguably the highest compensation of any job in the united states in which your not self employed.

[SDGOP]

There was a point i had thought about giving it a shot, but i don't like new york and don't hate my life enough to work 100+ hours a week.

[marlon]

Why these are obscene profits they must have participated in price gouging. I think a special $20 billion tax should be levied with the money going for alternative investment research that will benefit those members of our society with no money the most!

[SDGOP]

Yea while were at it we should tax trial lawyer's profits so we can provide legal services for the poor who have none.

[SDGOP]

Of course what the dem trial lawyers get into a hizzy about that.

[proxy_user]

That will only happen when the average citizen has to pump 30 gallons of investment banking into his tank every week.

[Tahoe3002]

When do the congressional hearings begin, with Goldman Sachs in to defend their profits????

[SDGOP]

Yea, we can start now since corzine wont be around to filibuster.

[Right_in_Virginia]

Hey. Shouldn't they be dragged before Congress to explain this profit? (/sarcasm)

[Crawdad]

Gotta love a place that let's you eat what you kill.

[Orbiting_Rosie's_Head]

I think they should have to pay back the taxpayers of the US for the Mexico bailout on their behalf that was engineered by the Clinton Administration

[July 4th]

$500,000 per is the average with the lion's share going to traders and execs.

Bingo. The first-years do pretty well, but they're a few hundred thousand below the $500,000 average, leaving the nice million dollar bonusus for the higher-ups.

[Always Right]

Where is the Congressional Investigation into their high profits?

[SDGOP]

Mexico Bailout? WHat was that?

[irons_player]

>>Goldman also noted that it had set aside $9.25 billion, almost $420,000 per employee, in compensation<<

...and Hillary 2008.

[segis]

If I am not mistaken, 85 Broad St - where the Goldman HQ is located - has one of the most amount of contributions(in NYC) to Republicans in the 2004 election cycle - if not the most.