The Boston Globe has crunched the math on what the average employee is making a Goldman Sachs this year. It’s an outstanding $622,000. I think there are probably more than a few employees getting multiple millions and many more getting nothing. Here are a couple of numbers from the article:
- “Anne Wass, president of the Massachusetts Teachers Association, noted the average pay of a Goldman employee would allow a Massachusetts school system to hire 11 more teachers, who makean average of $53,000.”
- “Richard Gulla, a spokesman for the Massachusetts Medical Society, said it’s the equivalent of four primary-care physicians, who make around $150,000 a year on average.”
- “Meizhu Lui, executive director for United for a Fair Economy, a national nonprofit group based in Boston, added that the average Goldman salary is 58 times the annual earnings of minimum wage worker in the US.”
And Energi Gal was wondering why I was thinking of getting my MBA.