Young bankers face tougher climb to MD: ‘People aren’t making like bandits and quitting in their 40s anymore’ – Financial News

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When Goldman Sachs announces its new class of partners in November, a select band of senior bankers will be promoted into a role that comes with a $950,000 salary, access to lucrative internal investment funds, and a total pay package that stretches into millions of dollars.
Goldman is alone among the large investment banks in offering the title of partner — a hangover from its days as a private company — and it is one that chief executive, David Solomon, has looked to make more exclusive and prestigious by reducing the number…
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