Goldman Sachs' partner class this year will reportedly be its smallest in decades
Goldman Sachsintends to name its smallest partnerclass in decades, The Wall Street Journal reported Tuesday.
- 60 or fewer senior bankers will likely be promoted to the elite level, and the perks will also increase, the paper said.
- The bank declined to comment on the report.
Goldman Sachs Group will likely name fewer than 60 partners in 2020, The Wall Street Journal reported on Tuesday, citing people familiar with the matter.
That number is down from more than 100 in some recent years, and shows a continued slowing of the upper echelon's growth.Partners will receive carried interest, a portion of future profits taxed at low rates, in four of Goldman's private investment funds starting this year, according to the report. The title comes with a guaranteed minimum salary of $1 million, the paper said, before stock bonuses.
The firm will also lend partners up to half a million dollars to increase their personal investment, the report added.Goldman declined comment on the report.
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