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Not going to be a popular CEO. Is this one of your first acts to cut comp as soon as things go South?
Not the best way to retain talent. Or do they care anyway since they are looking to automate which makes no sense - 90% of their jobs require critical out of the box thinking which AI cannot fill.
GS sets the bar when it comes to pay in Investment banking and increasingly other Financial services. Again, is this how you attract key young smart talent to "Big" Fintech???
Snubbing Blockchain and cutting bonuses/pay in the same breath, we all know Mr. Solomon is not smoking Mary Jane it's gotta be something else...
Also these dumb a** shareholders keep bringing up comp as the first thing to cut. Why not just try to run your entire business on algorithms and see how far that gets you. So tired of this bullsh** - People who know nothing about business and operations calling the shots
Also please don't say they do this every year. This year is different for GS. They just launched Marcus and now Apple Credit Card. They can't afford to lose talent at this stage. It is unclear whether incentive pay of those in Marcus and Apple projects have been cut. But I am aware that the attrition post-Marcus launch was A LOT and who knows if they've backfilled that talent or not.
Either way, you should not be reducing incentives in your core revenue group when you're expanding into unchartered territory. That is just silly.
F100's are running out of room to diversify, devaluing human talent which means more unemployment, less discretionary income and ultimately less consumers for the services and products they are offering. Why can't these bumbling buffoons understand that? Without a large population of affluent consumers you don't make any money. Am I missing something here or should I just shut up and drink more kool-aid like everyone else?
One bad quarter is enough to get your bonus hammered in this business. Are you in the business?
Just because it's common place does not mean the practice is correct or effective. IB average career is 5-7 years before leaving the industry completely. Every wonder why? Well this practice demonstrates exactly why.
How do people here chant STEM all day long then say sour grapes when STEM pay is reduced
Just because it's common place does not mean the practice is correct or effective. IB average career is 5-7 years before leaving the industry completely. Every wonder why? Well this practice demonstrates exactly why.
How do people here chant STEM all day long then say sour grapes when STEM pay is reduced
Why do you believe it’s not the correct practice? IB are paid largely for performance. The 5-7 year career is most likely one of couple of things, long hours, it’s hard to be success or if you are successful you can make a crap ton in a short period of time and move on
Are you in the business?
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