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1. It's the most wonderful time of the year... for a select few at Goldman Sachs
It's one of the most exclusive clubs on Wall Street, and it's ready to open its doors to an esteemed few.
Goldman Sachs is preparing to announce its newest crop of partners in what is the closest thing Wall Street has to a coronation.
At most banks, managing director is the highest title one can achieve (aside from the C-suite). But at Goldman, there is an even higher echelon for the true overachievers: partner.
Acceptance into Goldman's partnership, which is around 1%, comes with plenty of perks ($4). But, as crazy as this might sound about a bunch of people on Wall Street, it's more than just another zero at the end of your paycheck.
Nabbing the distinction of partner is a mark of exclusivity within a firm that already prides itself on being exclusive. And that type of cachet goes a long way if a person decides to venture beyond the walls of Goldman.
The esteem of the Goldman partnership is only growing under David Solomon, as the bank's CEO has been much more selective about who gets past the velvet rope. Under Solomon, the partnership class has been 69 ($4) and 60 ($4), down a reasonable amount from the class prior to when Solomon took over ($4).
But Dakin Campbell, Insider's chief finance correspondent and resident Goldman expert, told me he wouldn't be surprised if this class ends up being larger than Solomon's previous classes. The CEO's goal was always to reduce the size of the overall partnership after it swelled to over 500, $4.
However, after two-consecutive smaller partner classes $4, the bank could look to restock it ranks.
It's also worth noting $4, Dakin added. With investment banking and trading still providing the bulk of Goldman's revenue — it seems almost assured that a bulk of the class come from a unit that will now be housed under one roof.
Which also begs the question how that'll sit with those in the bank's other two groups: asset and wealth management; platform solutions.
In other news:
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3. Here's some advice on how to manage work-life balance on Wall Street from a former rising star at Bank of America. Laura Hayward spent more than a decade on the Street and was a director in BofA's prime brokerage sales before leaving this summer to be a doula and energy therapist. $4
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5. The other shoe is about to drop in Corporate America. It was a fun few years of "quiet quitting" and "The Great Resignation," but it was never going to last forever. Here's why employers seemed poised to $4.
6. Meet the fintech whisperer. Rex Salisbury built a reputation in the fintech community as a connector thanks to his networking group, Cambrian. $4.
7. Still daydreaming about leaving it all behind and just moving to Europe? Well, it turns out plenty of places over there are hiring. We spoke to five German headhunters about the European startup scene. $4.
8. You might be able to finally throw away that checkbook. JPMorgan is working on a tool for landlords and tenants to handle payments online, $4.
9. Dealmaking isn't dead just yet. Blackstone announced plans to acquire a majority stake in $4. It's worth noting that Blackstone, not the banks, was the one that handled selling off the $5.5 billion in debt financing that was part of the deal, $4.
10. A real-life Ricky Bobby in NASCAR. Ross Chastain passed five cars in the final turn of a NASCAR playoff race with the type of move you need to see to believe. Check out the videos showing how Chastain, who said the inspiration came from playing video games with his brother, $4.
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Edited by Jeffrey Cane (tweet @jeffrey_cane>$4) in New York and Hallam Bullock (tweet @hallam_bullock>$4) in London.