Goldman Sachs announces non-cash Bonuses
10 December 2009, 05:12 PM
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Goldman Sachs announces non-cash Bonuses
The Bonuses will be paid in the form of 'Restrictive Stock' ..... I guess it's a step forward, but I still wouldn't give them a penny.
10 December 2009, 10:37 PM
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10 December 2009, 10:47 PM
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To give you an insight here 
I have a friend who's son goes to a public school, at that school one of his son's classmates has a father who works for a "financial institution" (of course I wont say which one but have a guess)
Now a few years back (less than 5) this guy had a bonus from said company he worked for, if you want to hazzard a guess how much he received then go ahead
Tony
I have a friend who's son goes to a public school, at that school one of his son's classmates has a father who works for a "financial institution" (of course I wont say which one but have a guess
)Now a few years back (less than 5) this guy had a bonus from said company he worked for, if you want to hazzard a guess how much he received then go ahead
Tony
10 December 2009, 11:54 PM
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It really depends where he worked.
The average bonus (yes that is average across all the company from CEO to teaboy/girl) is $647,000 at Goldman Sachs this year. So the top people are getting bonuses in excess of $20m. The very top people in this sector internationally will get $100m, even though they have base salaries of only $250,000.
Even in your average large insurnance company the top 50 will be getting bonuses in 6 figures (although probably 50% cash, 50% stock tied in for three years).
So my answer is anything from £100,000 to £10,000,000 depending where he worked.
The average bonus (yes that is average across all the company from CEO to teaboy/girl) is $647,000 at Goldman Sachs this year. So the top people are getting bonuses in excess of $20m. The very top people in this sector internationally will get $100m, even though they have base salaries of only $250,000.
Even in your average large insurnance company the top 50 will be getting bonuses in 6 figures (although probably 50% cash, 50% stock tied in for three years).
So my answer is anything from £100,000 to £10,000,000 depending where he worked.
)
11 December 2009, 12:46 AM
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Well if his dad is Bob Diamond (even in this crazy world there aren't that many bonuses over £10m) then he did get $120m a couple of years ago but only $25m this year.
Although my biggest figure was $100m so I am guessing not north of that as you run out of people earning that kind of money.
Although my biggest figure was $100m so I am guessing not north of that as you run out of people earning that kind of money.
Last edited by Trout; 11 December 2009 at 12:47 AM.
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11 December 2009, 07:48 AM
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11 December 2009, 08:21 AM
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Fair play to GS, they stood to lose the most from this tax is was inevitable that they would side step the system. I don't know too many people in the city that aren't economical in the way they get taxed!
11 December 2009, 09:03 AM
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Absolutely. In 2007/8 we all had a good year, but that's still big money even by Goldie's standards. I bet a lof of that was stock options, not an actual cash payment.
11 December 2009, 09:35 AM
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my little sisters in law goto the same school in NHG as Scott Mead's children
he was the GS banker who had 2 million syphoned from his current account for over a two year period -- without noticing
funnily he won a weeks stay in a Tuscan villia in the schools auction of promises
he didn't bother taking and raffled it for the teachers
he was the GS banker who had 2 million syphoned from his current account for over a two year period -- without noticing
funnily he won a weeks stay in a Tuscan villia in the schools auction of promises
he didn't bother taking and raffled it for the teachers
11 December 2009, 02:20 PM
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Pete - but none of really have access to each other's worlds. Most of us live in our own spheres and within our own experiences.
People who earn £20k a year think people who earn £50k cannot see the real world. And people who earn £50k think the same for people who earn £300k.
Where does the line between the real world and the unreal world begin and end?
People who earn £20k a year think people who earn £50k cannot see the real world. And people who earn £50k think the same for people who earn £300k.
Where does the line between the real world and the unreal world begin and end?
11 December 2009, 02:23 PM
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Not sure why you're bothering, Trout 
Ask him about the wages of Middlesbrough FC players. Might be a tad inconvenient but possibly worth a go. Inconsistent bull$hit back is probably the worst that can happen
Ask him about the wages of Middlesbrough FC players. Might be a tad inconvenient but possibly worth a go. Inconsistent bull$hit back is probably the worst that can happen
11 December 2009, 03:18 PM
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Not just paid, Trout. Hideously over-paid.
I'm assuming the reposté goes something along the lines of them providing a service that people demonstrably want, whereas bankers are providing a service that only lines their own pockets. If that's the case, for God's sake don't talk about wealth creation, i did and i think it went about ten miles over his head. Stick to the basics.
I'm assuming the reposté goes something along the lines of them providing a service that people demonstrably want, whereas bankers are providing a service that only lines their own pockets. If that's the case, for God's sake don't talk about wealth creation, i did and i think it went about ten miles over his head. Stick to the basics.
11 December 2009, 03:26 PM
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Let's clear something up ... I am paid a high wage for producing something that no-one else can produce (well, not many anyway). What comes out of my efforts lends something concrete to the world in which we live and allows Bankers to sleep well in their mansions.
Bankers, and their hideously over inflated wages and bonuses are a different breed - they do little, make nothing, benefit no-one but themselves ...... it really is just money for nothing.
Let them leave and get a job elsewhere ... if they can! Let's call their bluff - then we shall see their world is built on sand.
I also think footballers are over paid ... but, we are currently talking about bankers.
Bankers, and their hideously over inflated wages and bonuses are a different breed - they do little, make nothing, benefit no-one but themselves ...... it really is just money for nothing.
Let them leave and get a job elsewhere ... if they can! Let's call their bluff - then we shall see their world is built on sand.
I also think footballers are over paid ... but, we are currently talking about bankers.
Last edited by SunnySideUp; 11 December 2009 at 03:27 PM.
11 December 2009, 03:36 PM
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Told you Trout, "no-one but themselves"
I can't be bothered to spell out O-level economics to somebody that ill-informed, but feel free to have a go if you're so inclined.
I can't be bothered to spell out O-level economics to somebody that ill-informed, but feel free to have a go if you're so inclined.
11 December 2009, 04:20 PM
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There is just so much cash in the system (a bit more now, due to some easing) - usually all that happens is that Bankers move this same pot of money about ...... now, of course, due to the Government pumping/printing more money the Bankers are making out like they are MAKING it!
Beggars belief ... like I said, a monkey in a straightjacket can make money in the current markets ... Bankers are trying to say it's through their skill - which is plainly poppycock.
The above is basic economics .... those in the game are (I think genuinely) blind to the facts.
Beggars belief ... like I said, a monkey in a straightjacket can make money in the current markets ... Bankers are trying to say it's through their skill - which is plainly poppycock.
The above is basic economics .... those in the game are (I think genuinely) blind to the facts.
11 December 2009, 04:36 PM
#24
Lets keep it simple. Without the banks, where would your business be? Who provided the liquidity to invest and expand your business? Where are your savings? Who will provided you your mortgages/loans/credit when you didn't have enough cash? Who will look after your pensions investments? Have you ever used a credit card/debit card? Do you have a current account? Do you pay your bills by direct debit? etc etc etc.. If you use any of these services, you're helping to keep these "greedy" banks in business.
11 December 2009, 05:07 PM
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I have no problem with Banks ....... none at all ......... we are talking what is a fair remuneration for a group of people who simply move money around and claim they are somehow 'making' something.
11 December 2009, 06:53 PM
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