Been thinking about this. Seen some emails about raises at boutique banks where they say this might not affect total comp, but just the base/guaranteed part.
Wouldn't be surprised if GS does the same. Practically every single one of these announcements headlined WSJ, FT, and Bloomberg so it's free PR.
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Onviously we all hope this isn’t the case, but at worst we still benefit. More guaranteed money is better regardless of if total comp increases.
Would taxes look different if more of TC is from base salary than bonus?
No. Might get taxes less up front but will have less of a refund so no net difference.
My staffer said bonuses (absolute dollar amount) will not be lower. But I’m not sure whether or not the bonus as a % percentage of base will stay the same or decrease. Either way, total comp at my BB should increase by at least 15k for first years, on average.
% has to decrease of course
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