/9918578/Banner

/9918578/Banner_2

/9918578/Mid

section

articleId

product

orgType

parrefer

accountID

Consulting

Banking

Accounting

Fintech

Internships

Rankings

Internship Rankings

Intern Resource Center

Explore Internships

Vault Law Home

Practice Area Resource Centers

Regional Resource Centers

Summer Program Resource Center

Vault Law Culture & Inclusion Survey

Vault Law

Guides

Events

Financial Services

Technology

Grad School

Work Relationships

Productivity

Diversity, Equity & Inclusion

Social Impact

Remote Work

Negotiating

Changing Jobs

Workplace Issues

Blog

Resume Samples

Cover Letter Samples

Interview Tips & Questions

A Day in the Life

International

Career Readiness

Explore Professions

Research Industries

Search Companies

Career Advice

Employers

Schools

&#39;Tis the season to announce annual earnings and today Goldman Sachs revealed what most of us already knew because it&#39;s been reported on and reported on in newspapers worldwide for the past few months: 2009 was very good to Goldman.&lt;p&gt;&lt;img class=&quot;embeddedObject&quot; src=&quot;http://content.screencast.com/users/dloos/folders/Jing/media/98b962f8-03ee-4221-92c7-0cc4226dfa8a/00000007.png&quot; width=&quot;171&quot; height=&quot;146&quot; border=&quot;0&quot; alt=&quot;Lloyd Blankfein&quot; align=&quot;left&quot;&gt;&lt;p&gt;It was so good in fact that the firm with the Midas touch reported record net earnings of $13.4 billion on revenues of $45.2 billion. Which, of course, means its ranks will receive big and beautiful bonuses this year—but not as big and beautiful as they could&#39;ve been.&lt;p&gt;Amid all the public criticism heaved Goldman&#39;s way in anticipation of the firm passing out huge incentive checks not long after the U.S. government helped them and others through a very rough patch, the firm decided to set aside just a measly $16.2 billion for bonuses, or about 36 percent of revenues. Sure, $16.2 billion is no bag of coal, but Goldman could&#39;ve gone higher. Consider that in 2007 the firm set aside $20 billion for bonuses and in 2008 the percentage of revenue devoted to incentive compensation equaled 48 percent.&lt;p&gt;What hasn&#39;t been announced yet is how much CEO Lloyd Blankfein will bank for his efforts in 2009. We do know that he (and other Goldman top executives) will only be receiving a stock bonus (no cash), but seeing how Goldman killed it this year while its competitors still struggled (Citigroup booked a monstrous loss for the year and Morgan Stanley booked its first annual loss in history) Lloyd should get close to the record $68 million he made in 2007.

Derek Loosvelt

Article

Investment Banking Internships for Summer 2027 Are Open: How, When, and Where to Apply

MBA vs. CFA: Which Pays Off More for Banking and Finance Professionals?

How AI is Changing Careers in Banking and Finance

Where the Vault Fintech 100 Firms Are Headquartered

The Library