Goldman's Waldron Is the Bank's Surprise $80 Million Man

The video discusses Goldman Sachs' $80 million retention package for top executives John Waldron and David Solomon, aiming to retain them until 2030. It explores Waldron's career prospects, Goldman Sachs' performance, and strategic decisions, including a shift from consumer banking to investment banking and money management. The video also examines compensation strategies, comparing pay structures in Goldman Sachs and private equity firms.

What is the primary goal of the $80 million retention package discussed in the video?

• To increase the stock value of Goldman Sachs

• To retain top executives until 2030

• To expand into consumer banking

• To double the earnings of the firm

What strategic shift did Goldman Sachs make to improve its performance?

• Entering the cryptocurrency market

• Focusing on consumer banking

• Expanding into real estate

• Refocusing on money management and investment banking

What was the reaction of senior partners to the consumer banking foray?

• They pushed to abandon it

• They were indifferent

• They supported the expansion

• They wanted to increase investment

How does Goldman Sachs' compensation strategy differ from many private equity firms?

• They offer bonuses based on customer satisfaction

• They provide compensation only in cash

• They use carry as part of the pay

• They pay entirely in stock

What was a significant concern for Goldman Sachs' leadership regarding their compensation?

• They wanted to eliminate carry from compensation

• They felt underpaid compared to private equity firms

• They felt overpaid compared to private equity firms

• They aimed to reduce stock-based pay