Bonus Watch: The $100M Bonus Kings

Author:
Publish date:

The bonus kings of Goldman Sachs are said to be in the principal stretegies group and Asia, according to the New York Post.
From the Post:

Several members of the $100 million club are in Goldman's Asian offices. Morgan Sze, a head trader in Goldman's principal strategies group based in Hong Kong, is mentioned by several sources as a possible member of the club.
Goldman's principal strategies group makes bets on stocks and other securities using nearly $10 billion of the firm's own capital.
Pierre-Henri Flamand, Sze's counterpart in London, is also rumored to be receiving a $100 million bonus, as are some traders in Tokyo.
Raanan Agus, who is the New York-based head of the principal strategies group, could receive a bonus north of $70 million

As we noted on Friday, Goldman is actually paying historically low bonuses if measured as a percentage of total firm revenue. And the percentage of total revenues paid our for compensation is less than many of its competitors. This probably makes Goldman's shareholders happy, especially the double-dipping alumni-employees who were partners when the firm went public. As we noted, this is leaving a few junior level people less than elated.

While some of the top traders and bankers at the firm raked in bonuses that were 30 percent to 50 percent higher than last year, some of the junior staffers were upset at receiving bonuses that were just 20 percent higher than last year.
"The discontent is pretty widespread among the junior ranks," said one source. "About 15 percent of the firm is unhappy with their bonuses and 45 percent are just content."

Bonu$ Baby Buzz [New York Post]

Related