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"My daughter is very unhappy with her Goldman Sachs bonus"

My daughter works for Goldman Sachs, and she is very unhappy with her pay.

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She graduated from a top college and achieved a job on a trading desk there a few years ago. When she discovered her bonus last week, she was very, very annoyed. 

 

She tells me she is not the only one. Her feeling is that she deserved to receive a lot more and her resume has therefore now hit the Street. She feels that the junior staff are being underpaid while the managing directors are still being paid lavishly, and that it is not fair. 

She says the mistakes with the retail bank have made things worse for her cohort. Since she joined, she says that pay has fallen and that the working environment is less fun - there's less travel and less client entertainment. 

My daughter is highly employable. I am confident that other banks will want her. I would appreciate knowing whether other people are in the same situation.

Elizabeth Marshall is a pseudonym

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AUTHORElizabeth Marshall Global Editor
  • Jo
    John123
    1 February 2024

    Does her Mummy hold her hand when she drops her off at work too? What a load of BS this article is.

  • Do
    DoubtingThomas
    26 January 2024

    What a nonsense article. I doubt any parent anywhere would write such a thing. However, so far as fictitious articles go it seems to have done the trick, with very many comments.

  • An
    AnonMe
    26 January 2024

    This is ridiculous. If she is unhappy about her GS pay, she's not going to be happy anywhere on Wall Street because it's pretty much the same story wherever you go. Bonuses are variable and, for many, not a given from year to year. She better grow a thicker skin and get used to the ups and downs.

  • co
    common_caves
    25 January 2024

    “Gratitude is not only the greatest of virtues, but the parent of all the others.” Cicero


  • Sh
    SharkBait
    24 January 2024

    The truth is that banking no longer pays what it used to be, at all levels, and only politics are now rewarded (explaining the demise of CS and the upcoming troubles for GS). If your daughter wants to get paid well proportionately, she needs to go to the buy-side: hedge fund or private equity/credit. Other banks' pay is actually worse than GS's.

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