Goldman CEO may break bonus record

Discussion in 'Wall St. News' started by crgarcia, Dec 13, 2007.

  1. Goldman CEO may break bonus record

    Lloyd Blankfein is set for a 30% pay hike that will bring his payout to about $70 million this year, according to a report.
    December 13 2007: 4:03 AM EST

    LONDON ( -- Goldman Sachs CEO Lloyd Blankfein could take home as much as $70 million this year, according to a published report.

    The Financial Times, citing company insiders, said Blankfein is in line for a 30 percent pay hike. Last year, Blankfein was awarded a $54 million payout, a record for a Wall Street CEO.

    Bankers at Goldman (Charts, Fortune 500), which has weathered the credit crisis better than its Wall Street rivals, are also set to benefit this year, the newspaper said.

    The bank's compensation pot - or the money used to pay employee salaries and bonuses - is estimated at $20 billion, the report said. Based on Goldman's 29,000 full-time staff members, that would come to about $360,000 per person, the FT said.
  2. fx255


    That works out to just under $700K per Goldman employee. Whose doing the number crunching at FT? Obviously not traders (or not very good ones).