Goldman Reports Best Quarter In Four Years, "Average" Employee Paid $381,948

Tyler Durden's picture

The one TBTF "bank" which unabashedly admits it is just a taxpayer backstopped hedge fund printing money for its owners (while supervising the NY Fed and all other central banks with various former employees in charge) with no actual lending or depository operations, Goldman Sachs, just hit it out of the park, when moments ago it reported Q1 earnings that smashed both top and bottom-line expectations, with revenues of $10.62 billion, up 13.8% from last year, and EPS of $6.00 printing far above the expected $9.31bn and $4.26. This was the best revenue generating quarter for Goldman since Q1 2011, or in four years. 

The breakdown by product line was impressive, with ever single revenue vertical posting Y/Y increases, with FICC's 10% increase resulting in the best quarter for the all important (and most profitable for the quarter) group since Q1 2013. Investment banking also rose 7% courtesy of an M&A and bond underwriting spree which usually see Goldman at the top (like today's Virtu IPO for example; the same Virtu Goldman bashed indirectly via Michael Lewis' book).

The full breakdown is below.

 

And since this is Goldman, if you generate money for the firm, you make money:

The accrual for compensation and benefits expenses (including salaries, estimated year-end discretionary compensation, amortization of equity awards and other items such as benefits) was $4.46 billion for the first quarter of 2015, 11% higher than the first quarter of 2014. This increase reflected an increase in net revenues, partially offset by a decline in the ratio of compensation and benefits to net revenues from 43.0% for the first quarter of 2014 to 42.0% for the first quarter of 2015. 

Most notably, Goldman remains the only TBTF to hire employees quarter after quarter: "Total staff increased 1% during the first quarter of 2015." Total employees at the end of Q1 rose to 34,400 from 34,000 a quarter ago and 32,600 a year ago.

Finally, those wondering how much the average Goldman employee is getting paid all-in, the answer as of Q1, was $381,948.

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Squid-puppets a-go-go's picture

goldman profits bigtime? i wondered what was sucking the lifeblood out of global macro

GetZeeGold's picture

 

 

Surviving the GS interviewing process is grueling....it helps to be a psychopath.

 

They line up around the block.....but very few make it.

 

Here's a tip....if they ask you if you're willing to kill a muppet....just say yes.

new game's picture

idol banksters. next hit tb show. american idol bankster. demonstrate you can kill with no remorse.

panel of former goldman/fed chairmans as experts...

Fun Facts's picture

Every cent these thieving megalomaniac thugs skim, pilfer and steal comes out of the pocket of ordinary Americans, and they do it with impunity because they own the politico.

Rikky's picture

i interviewed there many years ago.  7-10 layers of interviewing.  the biggest competition is to be the first one in and the last to leave and definitely have to put in 10-12 hour day on one of the weekend days and it's ok to catch one of your kids sporting events on the other day.  they can take their arroganct prick attitudes and shove it.

iofera's picture

Instead of drowning in self-pity and envy, Zero Hedgers need to get off their lazy butts and DO SOMETHING. No amount of bitching, whining and carping about the other guy's successes is going to change your personal situation.

Reject the cult of victimology and populism!

venturen's picture

yep just jump in flipping houses, steal the unfortunate and rob old people. So you are on board with destroying the world financial system? Morally I can't steal from people and dislike others that do! Also really like to warn people that are driving at car at a cliff when I am in that car! Do you think bubble don't affect you?

ZH Snob's picture

Instead of drowning in self-pity and envy, Zero Hedgers need to get off their lazy butts and DO SOMETHING. No amount of bitching, whining and carping about the other guy's successes is going to change your personal situation.

Reject the cult of victimology and populism!

 

you mistake our values and are in error to generalize the ZH community.  this type of generalization has always been the begining of prejudice and persecution, so in a small way you've already done your part.

Ban KKiller's picture

Yes. Just destroyed two bank entities in our two foreclosure cases. Both are being dismissed against us, the banks IDEA! Why? We called them on their lies. We are asking now for dismissal WITH prejudice. No matter the type of dismissal we follow with TORT and quiet title. 

See what happens when we, the serfs, have too much time on our hands and access to information? Thank you big banks for your greed as it has enabled us to get "free houses". 

Ok, bank stooges, time to kiss their, the banksters, dicks! Or you can fight them with knowledge knowing they are evil and incompetent. 

cooky puss's picture

You call parasitizing the worldwide economy "success"?

You're a funny man! Here, I upvoted you.

Vullsain's picture

Yeah thats it  thats the ticket. We live in a Jeffersonian democracy where an informed citizenry can make a difference!!!!                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 I am going to keep pounding my head against the concrete wall of the political, economic, corporate -state controlled media/propaganda one party system of the good ole USA. May never happen, but shits going to need to get real before there is any hope of meaningful change. In the meantime I am nursing a terrible headache..

JRobby's picture

Life is good when you are compensated for destroying your fellow men and women.

Bioscale's picture

Average does not say anything, show us the median. But who gives a fuck..

jmcadg's picture

Thieving wankers

SDRII's picture

Time to revisit the mock outrage over the snb "uncoordinated" depeg

silver_stacker's picture

Does the compensation include a nailgun package for an emergency exit strategy?

overmedicatedundersexed's picture

I would go work there just to do a nick leeson...many here will remember his HK office blow up in fx.

Handful of Dust's picture

"There's never been a better time then now to be a Wall Street Criminal."

youngman's picture

With all of their insider info..how can they not lose....

buzzsaw99's picture

really happy 4 them /s

This is it's picture

Aaaallllright...imma rich!

J J Pettigrew's picture

The Fed pumps and the Goldman Partners dance.

Farmer Joe in Brooklyn's picture

Damn it feels good to be a gangsta 

Farmer Joe in Brooklyn's picture

I know a guy working in fixed income ops over there. Makes his blood boil when he sees the "average employee pay" number. Wonder how much the wonder-Jew himself, Lloyd Blankfein is single-handedly skewing the numbers..?

Bill of Rights's picture

So buy banks and banks only ok noted.

Seasmoke's picture

God, must be very happy about this ....

Billy Sol Estes's picture

Heidi Cruz should be Hillary Clinton's running mate, because they both work for Goldman Sachs.

"Clinton/Cruz 2016, What difference does it make?"

Captain Obvious.'s picture

Fair crack of the whip fellas, they worked for every penny.

samsara's picture

It was the worst of times, and it was the best of times....

They better  enjoy it now,  They might be on a lamppost soon.

 

...The line it is drawn
The curse it is cast
The slow one now
Will later be fast
As the present now
Will later be past
The order is rapidly fadin’
And the first one now will later be last
For the times they are a-changin’

q99x2's picture

Arrest Lloyd Blankfein. Shut the company down. Sell it and redistribute its stolen wealth into an open source world cryptocurrency.

Rikky's picture

you have to have zero conscience or a devil worshipper to work for this turd of a company.  goldman represents everything wrong with america today where the only game is a value based performance system.  morals, ethics, integrity, honesty, humility?  for the weaklings and powerless.

HopefulCynical's picture

That company needs to be disbanded, and all its employees jailed.

Except for senior management. They all need to be hanged as traitors to the republic - and to humanity as a whole, if we're being totally honest.

Goldman is the American head of the bankster snake. Cut that f#$%er off.

venturen's picture

you will know the end is near when some crook from Wall Street volutneers to take control of the Tresury department!

Ban KKiller's picture

https://www.youtube.com/watch?v=HY3NQUoT89k

 

Blue Oyster Cult "Carear of evil"....seems like a good one for these folks. 

"I choose to steal...."

ThirdCoastSurfer's picture

In a 0% interest world, when Goldman wins, who loses? They don't make anything.

 

 Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. 

 

How do you make $10b in profit after paying the lights and rent in these services? 

ali-ali-al-qomfri's picture

5x new minimun wage ($70,000)

23x old minimum wage ($16,000)

not bad for producing misery.

Chuck Knoblauch's picture

Any time an employee dials 911 inside the building, security is alerted immediately.

Overflow-admin's picture

Nobody will notice the difference between avg and median /s