Jul
17

Goldman Is Carving Out Less Revenue for Banker Bonuses

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A big change is afoot inside Goldman Sachs — aside from the disc jockey slated to become CEO.

The company just set aside an unusually small portion of revenue to reward traders and bankers. The move is reflected in the firm’s compensation ratio, which took a surprising dive to 39 percent in this year’s first half, the lowest level of the past decade. Chief Financial Officer Marty Chavez attributed the drop to the firm’s emphasis on profitability. With revenue up significantly this year and the bank paying a lower tax rate, the rank and file can’t be faulted for hoping some of the spoils would come their way…

Goldman Is Carving Out Less Revenue for Banker Bonuses

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