Was 2017 Goldman Sachs's best year ever?
Was it even a good year?
Did CEO Lloyd Blankfein get a bonus anyway?
Goldman Sachs CEO Lloyd Blankfeinwas paid $24 million in total compensation in 2017, according to a Securities and Exchange Commission filing.
His pay is up from the $22 million in salary and bonuses he was paid in 2016, though his base salary was unchanged at $2 million. In addition to salary, Blankfein receives performance-based awards and a cash bonus.
Firstly, $2mil a paltry sum for a guy of Lloyd's stature, even if Goldman's trading operation rather shit the bed for FY2017.
Secondly, things weren't awful for Goldman last year, they just weren't of the vintage Goldmanesque dominance that we've all come to hate and respect.
Thirdly, and most importantly, of course Goldman took care of Lloyd. He needs to stay happy right now because he's the only man for the gig at the moment.
And this is a rare moment at Goldman Sachs, where the CEO depth chart is always a Thunderdome of quiet alphadom and backstabbery. In this post-Gary Cohn era of "Harvey vs D-Sol" however, the race to replace Lloyd has slowed to a saunter and everyone involved is better off letting it play out slowly, even if that means giving Lloyd a little sometin' sometin' after a not-so-stellar year. There is no ready replacement for The Bearded One inside 200 West Street right now, so why not let Lloyd have a little extra pocket money?