I do not understand what "being a partner at GS" means. I understand that Top consulting firms and Big4 companies use Partnership as the equity holders of the firm, and they distribute dividends among partners. But GS is a public company, anyone can buy GS shares and become "owner" of the bank, so what really is a Partner at Goldman Sachs. Is it just a status level in the internal hierarchy?
What is the difference between a Partner and a Managing Director?
Why only GS have partners among BB?
Do partners at GS get access to a portion of dividends? If so, why do main shareholders allow it?
Thicc paychecks and ultimate prestige.
$1 million base salary, access to a super special bonus pool, carried interest from Goldman's private investment funds.
Is it only 1 million base for people in IB, AM? I would imagine that operations, Risk, HR at GS partner level surely don't make that much, right?
I could be wrong but I don't think anyone is at the partner level in HR, Risk, etc. Maybe the head of those entire divisions but even that is a stretch. Being a partner is a holdover from the merchant banking days when partners had actual capital at risk / had a buy-in which was restricted to actual bankers.
I don't think you'll have to worry about it.
Maybe he's about to get promoted to partner himself and wants to know what it entails
Can't tell if this is satire
Shareholders allow it cuz you don't want these partners bolt to competitors and make it rain for other banks. It's a zero-sum game.
GS was one of the last big banks to go public, it's an honorific carryover that comes with nice comp. Still, it's nothing like what the actual partners got paid when GS went public.
Interestingly I remember reading about a couple of promotions in the commodities team (both this latest round and the round before that). Not bad for a group which is meant to be ostracised. It suggests what was mentioned above about making people up to prevent them from jumping ship to the buy-side, competitors etc.
What were those numbers like for the partners during Goldman's IPO?
$200mm+
Its about the exits these days at the partner level... can easily nab a crazy high paying corporate position.
It's not just an honorific. There are HUGE benefits that come with being Partner besides pay and prestige. You get lifetime access to a lot of things, including GS's research/GS360/etc, which normal MD's don't have access to post-GS employment. The difference between Partner and MD is comparable to, if not greater than the difference between MD and VP.
Lmao huge difference and you give fucking research access as an example? You do realize that research is accessible to anyone at a fee
This is super secret PARTNER research though, like "best high-end escorts anywhere in Jakarta" or "where to score coke in Reykjavik"
False, you need a net worth $100mm AND be a corporate/institutional client to even be considered for access to the portals. For Credit research access, you also need to be a MIFID professional in EMEA/Asia/LatAm to gain access. Former partners getting access to the institutional portal is most certainly a great benefit (and it’s not the only benefit).
Wow free sell side research? Talk about living the life...
According to my friend who is a Partner at a BB (think MS/JPM/CS) you get access to Goldman Patagonia vests (rare to come by after Patagonia cut ties to the finance industry) and meal expensing up to $100 (if you work minimum 12 hours or more, not applicable on weekends
Goldman is the only LP structure of the big banks...your buddy aint partner anywhere kiddo
edit: I'll just leave this here
Goldman is alone among big banks in naming partners.
it was obviously a joke you fucking autist...
I'll just leave this here: https://www.google.com/search?q=autism+symptoms&rlz=1C5CHFA_enAU924AU92…
Aside from ridiculously high comp and bonus, another actual benefit to being a partner at GS is that you’re allowed to invest your own money in certain of the firm’s PE / alternative asset funds which can be highly profitable
It took me five minutes to google this article on the benefits of making partner at GS. Not to mention, much of the information in this article is being touted by members on this forum as their own. I suppose it's the intent of the lazy or of the vain to not site their work, but if we did - it sure would reveal how much we rely on one another... Enjoy the read.
https://www.businessinsider.com/becoming-a-partner-at-goldman-sachs-201…
nice
nice
I'm pro-business, Republican and a former banker that worked for probably one of the most vilified investment banks of them all.
I was an investment banker for 9 years, first with Deutsche Bank and the last 4 years with Goldman Sachs as a Vice President before the market meltdown cost me my job back in 2009.
Ask me anything...
you get a big gold duffle bag and the green light to send "pls fix" emails to anyone in the firm
It took me five minutes to google this article on the benefits of making partner at GS. Not to mention, much of the information in this article is being touted by members on this forum as their own. I suppose it's the intent of the lazy or of the vain to not site their work, but if we did - it sure would reveal how much we rely on one another... Enjoy the read.usps tracking
that's helpful!!
one fun perk I heard about is that they pay someone to do your taxes
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