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Average Goldman Employee Comp Drops To $385,821 Despite Top And Bottom-Line Beat
On the surface, Goldman's just reported earnings that were significantly better than expected, with the central-bank controlling hedge fund announcing it had earned $4.57 in the third quarter, over a dollar above the $3.21 expected and also above the highest estimate, on revenues of $8.39 billion, half a billion above the $7.83 billion expected, while also announcing an increase in its dividend from $0.55 to $0.60.
The biggest revenue contributor was the pick up in FICC trading which was $2.17 billion, just below the $2.22 billion in Q2 and well above the $1.83 Bn expected.
Somewhat disappointing is that Goldman's prop group, Investing and Lending, generated just $1.692 billion, far below the $2.072 billion last quarter: so, do you see what happens Larry when the prop guys can no longer trade against Stolper's recos?
Nonetheless, the long-term trend in Goldman revenues is quite clear, and is shown on the chart below
But the main reason why EPS soared is because Goldman did what it should do in a time of contracting revenues: it slashed compensation - the firm set aside "only" $2.8 billion for Compensation benefits, or a 33.4% comp margin, far below the 41% expected, and the 43% margin it had accrued last quarter.
As a result, despite the substantial beat in revenues and EPS, average employee comp actually fell modestly to $385,821 in Q3, although Goldman did boost total headcount from 32,400 to 33,500 in the third quarter, bucking the layoff trend seen at every other bank.
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Deflation Bitchezz!!
they'll make it up in the world-wide meltdown in the next few months. they've got the muppets trained to bark on command and to follow them down the road to financial ruin.
Sheep-Dogs
Cordon Sanitaire
Bread lines for the Squid.
God must not be pleased with how they are doing "God's work".
God has probably left them to deal with it, right till the end... They either create a heaven on Earth or swing from lamp posts.
Time to sell the Lambo
Gold is now only $10 less than Platinum. Very strange.
Platinum has many military uses - look around the world
now showing 1237 gold and 1238 platinum...nice!
platinum and paladium are great buys right now. paladium is getting knocked around this morning and is back down to 739 right now. great buy!
people don't pay much attention to the platinoids, but in fact, they are also manipulated by paper bullshit by these criminals. The thing is though that Russia and S. Africa are like 90% of the world's production. S. African miners are still on strike and if the U.S. keeps sanctioning Russia and hammering prices of oil and PM's including the platinoids well that just means the shit is on sale and we should have a little stack of it squirrelled away for the future.
Platinum is 1000 bucks off it's high of around 2200 in 2007! Buy some 1/10th oz platinum Eagles...you don't need much.
And paladium was around it's all time high of 900 like a month ago. It's not going to get much lower than 700 again IMO. Another great buy in small amounts.
No matter what, whether it be any of the PM's, especially silver...just keep stacking. This shit's going to blow sky high either before the end of this year or sometime early into 2015.
When it does there will be no looking back and obtaining phyzz is going to become everybodies goal at the same time and that's going to be a huge problem for those who haven't been stacking over the last several years or longer.
Whatever you do though...never sell!!!!!!! Not for any amount of worthless fiat paper. The powers that be will eventually run prices to the moon in any attempt to get long time phyzz holders to get greedy and sell their phyzz for big piles of worthless bankster paper.
DON'T DO IT!!!
When you are the market..and own the politicians...you always win
But you have to appreciate their effort to atleast put up a facade of free markets for the plebs.
These worthless scum get a packet....yet people with real and useful skills and education get a pitance. Nuclear physicist...and GS trader? One with brain the size of a planet, they other a scum sucking leech.
Leeches and parasites are always the winners.....until the pest control comes.
does this include "intangible" compensation??
ref: http://www.zerohedge.com/news/2013-04-21/us-gdp-will-be-revised-higher-5...
We're all TURNING JAPANESE, TURNING JAPANESE, we really think so!
and the economy is running on 'Vapors'
FUCK GOLDMAN
FUCK SACHS
Does this include the off book payments for Draghi, Dudly, Gensler, Carney, Paulson, Greenspan, Geithner, Bernanke and the deferred compensation plan for Yellen, Lew, Obama, Fischer, etc
Wife just came home with 2015 health choice package. For a family basic plan that was Zero for past 10 years. Last year went to $100 per month. Next year $160 per month. Where is that $2000 a year coming from ??? I have done the math. There is no way that this ends good. Just a matter of how soon now. Is everyone else just lying to themselves or just plain stupid !!!!
wait til Fall of 2016.....clinton will literally be offering up checks...direct payment and loan forgiveness in exchange for votes.
i want to take out a big student loan somehow.....chances are, it'll be forgiven.
It can only get worse.
RE
Average Goldman Employee Comp Drops To $385,821 Despite Top And Bottom-Line Beat
Yeah, that's how they beat, but skimming off the top of "worker's" salaries.
Welcome to the rest of America, the "grunts" of Goldman Sachs (more like cunts).
can anyone remind me why we rescued a company paying an avg salary of $350k with money from taxpayers on average making $33k?
Criminal Paulson
Was it always a mantra that it is "unamerican" to discuss anybody's income?
(Free) market determines someone's worth.
Ali Baba had forty thieves and Goldman has 33,500?
And over 20,000 at the Federal Reserve?
How many leeches can one system take?
The thieves are now clearly on the other side of the counter.
Goldman employees are uniquely qualified to act on the insider information fed to them by the world's central bankers and whatever NSA intercepts from businesses and governments around the world.
You will see their EXPENSES this quarter will be way up...with all the donations to politicians this election cycle....thier version of Cap EX
money spent buying politicians is better spent than buying back shares
Champagne wishes and caviar dreams!
"Dreams"!