Goldman Sachs added dozens of bankers to Wall Street’s most exclusive club on Thursday by naming 95 new partners — the largest number since former CEO Lloyd Blankfein’s promoted 115 financiers in 2006.
Goldman’s latest class of new partners — which includes 26 female bankers — also marks the biggest group by far since David Solomon became CEO in 2018.
The announcement comes amid a flurry of dealmaking activity in the world’s financial capital that has boosted profits at Goldman’s lower Manhattan headquarters at 200 West St.
The price of Goldman stock has climbed by nearly 13% since Donald Trump’s election victory on Wednesday
Partnerships at the bank are a nod to Goldman’s days as a private company prior to its 1999 listing on the New York Stock Exchange.
The senior bankers can rake in nearly $1 million a year as a base salary, but that figure can reach several million when bonuses and stock-based compensation are included.
Every two years the prestigious firm promotes dozens of senior executives to join its top brass that make up just 1% — or about 400 employees – of its global workforce of more than 46,000.
Aside from their eye-popping bonuses, they can also look forward to a cut of profits from the bank’s investment funds that are open to employees and a partners-only bonus pool.
Goldman handed out $15.4 billion in compensation and other benefits last year, according to its annual financial report published this past March.
That compares to $15.1 billion in 2022, the same source shows.
Last year CEO Solomon earned $31 million, 24% higher than the previous year. while chief operating officer John Waldron earned $30 million, an increase of nearly 28% over the prior year, according to regulatory filings.