Goldman Sachs Group Names 115 Partners
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Goldman Sachs Group Inc. has invited 115 employees to become partners, a designation that rewards them with a bigger share of bonuses at the securities industry’s most profitable firm.
Becoming partner “is very prestigious and you can get paid a lot, but it’s also very, very hard,” said Alan Johnson of New York-based pay consultant Johnson Associates. “They turn the treadmill up even faster.”
The title is a vestige of Goldman’s days as Wall Street’s last partnership. New York-based Goldman went public in 1999 after 130 years of ownership by the partners and now pays its most senior executives mainly in stock.
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