Goldman Changes Bonus Schedule To Treat Plankton Like People

Posted by Bess Levin, Jul 24, 2008, 11:39am

"Goldman just announced a change in its bonus schedule for two-year program analysts. Bonuses are usually announced in July, like other investment banks do for their analysts. This will change to align with bonuses in the rest of the firm, to the fiscal year end in November. Analysts starting '07 and before will get bonuses this July. Those and new analysts will get a four-month bonus in November. The purpose is to "align the treatment of our program analysts with all other employees..."

Is this a big deal? Something worth flipping out over? You tell us.

2Recommend this! 13Comments

Tags: bonuses, Goldman Sachs

Comments

1

Posted by guest, Jul 24, 2008 11:47AM

Would love to get me first bonus Nov. Smart too b/c no one will leave next July w/o full year bonus. Always wondered why Analysts don't get stubs like Associates.

2

Posted by guest, Jul 24, 2008 11:53AM

This is not a big deal (I guess) because I assume the rest of the market (i.e. banks, HFs, PE, et al) will evolve like so and modify their recruiting scedules accordingly. That is to say, firms hiring analysts at the end of their 2nd year will now have to "buy them out" with an upfront or guaranteed stub. Or they will just have to postpone start dates to conclusion of their 2nd year as they do now, but the difference being 4 months.

3

Posted by guest, Jul 24, 2008 11:59AM

I think this would entail 2nd years would get an 8 month stub as they only signed for two years.

4

Posted by guest, Jul 24, 2008 12:04PM

Get on the UBS being screwed by Cuomo story re Auction Rates

5

Posted by Kurt_Osis, Jul 24, 2008 12:16PM

They're just changing it back to the way it was in 2003, back when analysts complained about not being able to compare the bonus on an apples to apples basis with those at other banks and there was much tumult over the "goldman discount" or the % of compensation that was recieved in Goldman brand equity.

6

Posted by guest, Jul 24, 2008 12:18PM

screws people who want to go to bschool (i.e. those who can't get jobs on the buyside)

7

Posted by guest, Jul 24, 2008 12:27PM

Bess, funny headline.

8

Posted by guest, Jul 24, 2008 12:48PM

I think Merrill and Barclays Capital did this a few years back....

9

Posted by guest, Jul 24, 2008 4:02PM

hell'ya, if all capital markets would have gotten there bonuses last July people would have been prreetty happy...

10

Posted by miami, Jul 24, 2008 4:39PM

Changed it back to the old way. Who cares?

11

Posted by miami, Jul 24, 2008 4:42PM

Changed it back to the old way. Who cares?

12

Posted by guest, Jul 24, 2008 11:29PM

This is some bunk-ass shit.

13

Posted by guest, Jul 25, 2008 11:40AM

This screws analysts wanting to back to school.

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