Goldman CEO may break bonus record

[crgarcia]

Goldman CEO may break bonus record

Lloyd Blankfein is set for a 30% pay hike that will bring his payout to about $70 million this year, according to a report.
December 13 2007: 4:03 AM EST

LONDON (CNNMoney.com) -- Goldman Sachs CEO Lloyd Blankfein could take home as much as $70 million this year, according to a published report.

The Financial Times, citing company insiders, said Blankfein is in line for a 30 percent pay hike. Last year, Blankfein was awarded a $54 million payout, a record for a Wall Street CEO.

Bankers at Goldman (Charts, Fortune 500), which has weathered the credit crisis better than its Wall Street rivals, are also set to benefit this year, the newspaper said.

The bank's compensation pot - or the money used to pay employee salaries and bonuses - is estimated at $20 billion, the report said. Based on Goldman's 29,000 full-time staff members, that would come to about $360,000 per person, the FT said.

http://money.cnn.com/2007/12/13/news/companies/goldman_bonuses/index.htm?postversion=2007121304

 

[fx255]

That works out to just under $700K per Goldman employee. Whose doing the number crunching at FT? Obviously not traders (or not very good ones).

 

[Don Bright]

Quote from fx255:

That works out to just under $700K per Goldman employee. Whose doing the number crunching at FT? Obviously not traders (or not very good ones). [/QUOTE


LOL.

Don

 

[Bogan7]

Quote from Don Bright:

Quote from fx255:

That works out to just under $700K per Goldman employee. Whose doing the number crunching at FT? Obviously not traders (or not very good ones). [/QUOTE


LOL.

Don

Bonuses at the big firms are much lower this yr I was talking a mate at Merrils yesterday and he said the bonus pool is the lowest for 5 yrs. He is a director of equities sales trading with nothing to do with US instruments so it across the board.