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Goldman Raises Partners Pay
Goldman Sachs has raised the base salary of its executives and partners, in a move that affects all 470 partners out of the bank’s 36,500 employees.
Goldman Sachs has raised the base salary of its executives and partners, in a move that affects all 470 partners out of the bank’s 36,500 employees, TheWall Street Journal reports. The firm has tripled the salary of Chairman and CEO Lloyd Blankfein to $2 million.
The 2011 base salary for President Gary Cohn, vice chairmen John Weinberg and Michael Evans, and CFO David Viniar, will rise to $1.85 million from $600,000. Goldman has also disclosed the restricted-stock awards made as bonuses to several top executives for 2010. Blankfein got $12.6 million, 40% higher than his $9 million bonus for 2009.
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