$420,000 for each of Goldman's 22,000 workers worldwide
- Thread starter richardyu301
- Start date
Not really, but I didn't get a sense of "pride in sharing in the profits" vibe either....
I'm sure GS will be fair...
Don
more like culture of BS, all across the board... so please save yourself the money and instead have few drinks with your friends right away...
proprietary trading??? abby cock (or whatever here name is), a managing director??? give me a f@cking brake... none of them are able to trade, none nada, and therefore should not give any advice... I just wonder for how long this scum is going to go on for before people realize they are being fleeced alive...
he he he
Does anyone hv a breakdown of the revenue/profits (M&A, prop trading, asset mgmt, etc) of the major i-banks including GS and others? thx
As for comparisons, I'm not sure but google enough and you can probably find them them. Otherwise, got to the sec website and download their financial statements. Here is the most recent filing
Three Months Nine Months
Ended August Ended August
2005 2004 2005 2004
(in millions, except per share amounts)
Revenues
Investment banking $ 998 $ 854 $ 2,667 $ 2,536
Trading and principal investments 4,842 2,424 11,545 9,652
Asset management and securities services 772 620 2,270 2,036
Interest income 5,721 2,905 14,764 8,160
(Sorry for the formatting)
Unfortunately these trading revenues don't segregate by principal accounts (prop) from market making. If you dig around I'm sure someone can find some reasonable guesses. Either way it has been an ever increasing source of income on wall street in recent months. that's why there have been so many surprises come earnings season with banks. Certain activity such as M&A and most asset management (where the manager recieves income by AUM not incentive) are relatively easy to predict. But when the firms capital is used to make countless bets, its anyones guess (and if history is any guide, that includes much of senior management).
For a detailed look in how bonuses for GS are likely to be divided read the following article from New York Magazine. To summarize, of course the money is distributed unevenly. But that's what should be expected of one of the kings of Capitalism. Also don't forget, why they're making some nice coin, there's sure to be some hedge fund managers who would be down right embarrassed to receive these bonuses.
Three Months Nine Months
Ended August Ended August
2005 2004 2005 2004
(in millions, except per share amounts)
Revenues
Investment banking $ 998 $ 854 $ 2,667 $ 2,536
Trading and principal investments 4,842 2,424 11,545 9,652
Asset management and securities services 772 620 2,270 2,036
Interest income 5,721 2,905 14,764 8,160
(Sorry for the formatting)
Unfortunately these trading revenues don't segregate by principal accounts (prop) from market making. If you dig around I'm sure someone can find some reasonable guesses. Either way it has been an ever increasing source of income on wall street in recent months. that's why there have been so many surprises come earnings season with banks. Certain activity such as M&A and most asset management (where the manager recieves income by AUM not incentive) are relatively easy to predict. But when the firms capital is used to make countless bets, its anyones guess (and if history is any guide, that includes much of senior management).
For a detailed look in how bonuses for GS are likely to be divided read the following article from New York Magazine. To summarize, of course the money is distributed unevenly. But that's what should be expected of one of the kings of Capitalism. Also don't forget, why they're making some nice coin, there's sure to be some hedge fund managers who would be down right embarrassed to receive these bonuses.
Sorry forgot th link, here it goes
http://www.nymetro.com/nymetro/news/bizfinance/biz/features/15197/
http://www.nymetro.com/nymetro/news/bizfinance/biz/features/15197/
But one could argue that if it wasn't for some (not all) of the backoffice types, they wouldn't have the infrastructure to help folk earn that money
ChiBondKing
I agree with you 100%
And I am a back office person now who goes to his brokers and hit them up for 1,000.00 each if they all go along with me I will be sitting on a cool 125,000.00, tax free!
But the majority will look at me like I am crazy and tell me all sorts of B.S., but I will try to get it out of them.
the firm itself will tell me, via email, over all four quarters how great we are doing as a company then pull some b.s. out of the bag when it is review time in a few weeks.
I expect to get screwed eventhough we have had a record year! but again what value added do I bring to the table that will be rewarded?
I dont have the answer.
I agree with you 100%
And I am a back office person now who goes to his brokers and hit them up for 1,000.00 each if they all go along with me I will be sitting on a cool 125,000.00, tax free!
But the majority will look at me like I am crazy and tell me all sorts of B.S., but I will try to get it out of them.
the firm itself will tell me, via email, over all four quarters how great we are doing as a company then pull some b.s. out of the bag when it is review time in a few weeks.
I expect to get screwed eventhough we have had a record year! but again what value added do I bring to the table that will be rewarded?
I dont have the answer.