Lloyd Blankfein of Goldman Sachs Opposed Raising Salaries Months Before His Tripled
source: http://www.wealthvest.com/blog/sean-browne/lloyd-blankfein-of-goldman-sachs-opposed-raising-...
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Lloyd Blankfein, Goldman Sachs Group Inc.’s chairman and chief executive officer, warned against raising base salaries on Wall Street under eight months before his own more than tripled to $2 million.
Goldman Sachs prefers paying compensation in bonuses that are contingent on the firm’s performance, rather than offering guarantees or high salaries, Blankfein said inside a June 16 interview with staff from the Financial Crisis Inquiry Commission, a recording of which was made public this month. On Jan. 28, the New York-based firm disclosed it had raised salaries for Blankfein and four other top executives that had been $600,000.
Goldman Sachs prefers paying compensation in bonuses that are contingent on the firm’s performance, rather than offering guarantees or high salaries, Blankfein said inside a June 16 interview with staff from the Financial Crisis Inquiry Commission, a recording of which was made public this month. On Jan. 28, the New York-based firm disclosed it had raised salaries for Blankfein and four other top executives that had been $600,000.
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