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Record Number of New MDs at Goldman Sachs

The addition of this latest class raises Goldman's total MD count to 1,767, according to Financial News, out of a worldwide work force of 29,905.

This year's MD class is 12 percent larger than the number awarded the title last year. In 2006, however, Goldman named 115 new "partner managing directors" - a still-loftier position. Partner MDs, anointed every two years, reportedly receive a $600,000 base salary and averaged $8.6 million total compensation last year. At present there are 383 partner MDs at Goldman.

According to Financial News, 19 percent of the new MDs are women, up from about 15 percent of the 2006 class, and about 11 percent of last year's new partner MDs.

For the first nine months of 2007, Goldman set aside $16.9 billion for compensation expenses, exceeding last year's full-year record of $16.5 billion. The bank posted record profits of $9.3 billion last year.

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AUTHORAnonymous Insider Comment
  • An
    Andrew
    2 November 2007

    Could some one get me a job in Goldman Sachs so I could start my career with them....

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