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Understanding Partner Compensation at Goldman Sachs

Understanding Partner Compensation at Goldman Sachs. Presented by Mark Egge March 6, 2019. Itasca Partners LLC. www.aprahome.org. Compensation for partners at. Why?. UHNW. Overview. How. =. “Partner Managing Directors”. Partners?. (PMDs). Compensation Basics. $950,000. $. 40%

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Understanding Partner Compensation at Goldman Sachs

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  1. Understanding Partner Compensation at Goldman Sachs Presented by Mark Egge March 6, 2019

  2. Itasca Partners LLC

  3. www.aprahome.org

  4. Compensation for partners at

  5. Why?

  6. UHNW

  7. Overview

  8. How

  9. = “Partner Managing Directors” Partners? (PMDs)

  10. Compensation Basics

  11. $950,000

  12. $

  13. 40% of Net Revenue = Compensation

  14. Bonus pool = 15%

  15. Points Discretionary

  16. Points Discretionary

  17. “Points system” ? Longevity? Business? Ranking?

  18. Longevity Business Ranking

  19. Points Discretionary

  20. ? Discretion of top partners Profitability Yield Politics

  21. 2018 Comp Pool Base Salary Figures Est. # PMDs $12.3B 420 $950k

  22. Bonus pool $12.3B • $1.845B • X 15% =

  23. Bonus pool • $1.845B

  24. Longevity Business Ranking $553.5M $1.32M 420

  25. Profitability Yield Politics $1,291.5M $3.08M 420

  26. $5.35M

  27. Other benefits FEES

  28. What about an Executive Managing Director? $1.75M - $3M

  29. Caveats $ $

  30. WRAP UP

  31. Sources Campbell, Dakin. “A small group of Goldman Sachs employees just got the call of a lifetime…” Business Insider November 7, 2018. Carney, John. “How Pay at Goldman Sachs Really Works.” Business Insider, July 19, 2009. Chandler, Clay. “Goldman's Golden Chance; An IPO or merger could reap millions for partners at the Wall Street titan -- but would it destroy what makes Goldman Sachs Goldman Sachs?” The Washington Post, June 7, 1998. Craig, Susanne. “Joining the Club -- Inside Goldman's Secret Rite: ....” Wall Street Journal, October 13, 2006. Craig, Susanne. “Symbol of excess tries to give billions back.” International New York Times, October 28, 2013. McDonald, Duff. “Please Sir, I Want Some More….” NY Magazine, 2005 Roose, Kevin. “Goldman’s Overrated Partner Day.” NY Magazine, November 14, 2012. Story, Louise. “Goldman considers a mandate for charity.” International Herald Tribune, January 12, 2010. Treanor, Jill. “Hello partner. Goldman bankers wait for the million-dollar call:....” The Guardian, November 9, 2012. DEF 14A for Goldman Sachs Group, Inc. Dated March 23, 2018 “Goldman Sachs Compensation Practices” The Goldman Sachs Group, Inc. March 2010

  32. www.aprahome.org Thank you! @mnegge mark@itascapartners.com

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