Goldman Sachs may have had its issues in the past, it may have fallen from number 33 to number 93 in Fortune’s list of best companies to work for last year, but this does not mean that people don’t want to work there.
In 2012, Fortune says 96,282 people (precisely) applied to work at Goldman Sachs. The very, very vast majority will have been unsuccessful: Goldman is not in growth mode and cut 863 people last year from its headcount last year. Applicants to Goldman Sachs’ sales and trading business may be particularly disappointed. In a note out last week, analysts at Sanford Bernstein predicted that Goldman will shrink its presence in sales and trading and focus more strongly on asset management and investment banking in years to come.
Fortune also reveals that Goldman now employs more people outside the US (14,039) than inside the US (13,326). This may be why Michael ‘Woody’ Sherwood, Goldman’s European boss, has been awarded a larger stock bonus than Lloyd Blankfein.
Contributions to date to Goldman Sachs’ open source coding repositary: precisely zero. (GITHUB)
Goldman’s 38% compensation ratio for 2012 was the second lowest since it went public in 1999. (Financial Times)
James Gorman says Morgan Stanley is very comfortable with the headcount it has now and that over 80% of its employees have no deferrals at all. (Business Insider)
By deferring bonuses, Morgan Stanley is simply storing up trouble by fixing costs and pushing them into future years. (Financial Times)
Morgan Stanley shares rose 8% on Friday. (Wall Street Journal)
Good news for Lloyd Blankfein: he is now paid $1.8m more than Jamie Dimon. (Wall Street Journal)
Matt Zames awarded nearly as much restricted stock as Jamie Dimon. (Bloomberg)
Secret report claims a culture of fear and intimidation at Barclays Wealth. (Telegraph)
RBC says it will continue to hire to grow its market share. (Financial News)
Zaoui Capital is now hiring juniors. (Financial News)
RBS may appoint Peter Nielsen and Suneel Kamlani heads of its investment bank. (Financial News)
Ex-head of Lehman in Germany now runs a hostel for mountain hikers in Switzerland. (Spiegel)
Ex-RBS banker takes to Twitter to air his grievances. (Twitter)
Three things that will get your resume instantly binned. (The Daily Muse)