Goldman Sachs Compensation Structure
My response to the story below:
Amen. Long live capitalism and rewarding those firms which actually do outproduce and do well over time...in an era of bailouts due to poorly ran companies and leveraged risk at the expense of tax payers I actually find Goldman's cash machine refreshing.
THE boss of Goldman Sachs yesterday defended the bank’s pay policies, insisting his staff were paid more because they were “among the most productive in the world”.
Lloyd Blankfein, Goldman’s chair and chief executive, also rejected calls to break up the bank and said the firm was easier to manage than its larger rivals.
“I often hear references to higher compensation at Goldman,” Blankfein told a banker’s conference in New York.
“What people fail to mention is that net income generated per head is a multiple of our peer average. The people of Goldman Sachs are among the most productive in the world.” source
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