Industry News, Trustworthy Insights

Popular Companies:

Goldman Sachs CEO: Solomon to Face Fierce Talent Competition | Insight

Goldman Sachs CEO, David Solomon, stated that the competition for talent within the banking sector continues to be strong, despite job cuts across the industry.

Goldman Sachs has cut $600m from payroll costs while reducing its workforce by over 3,000, which includes several hundred managing directors. Photo: Getty Images
Goldman Sachs has cut $600m from payroll costs while reducing its workforce by over 3,000, which includes several hundred managing directors. Photo: Getty Images

Solomon explained that the bank received approximately a million job applications in 2022 with 260,000 of those candidates applying for entry-level roles.

Despite all this, Goldman Sachs has also experienced a 5% increase in compensation costs, specifically $11.9bn, for the first nine months of 2023.

Industry news used by professionals

Try £4.99 per month

Already a member?
Weekly Digest

All the week’s industry events straight to your inbox.

Before your sign up, please read terms of use and privacy policy.

Trending

FREE Weekly Newsletter

Trusted industry insights used by Professionals

By signing up you agree to our terms of use and privacy policy.

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

Password Reset

You will soon receive a Reset Password link

FREE Weekly Newsletter

Trusted industry insights used by Professionals

By signing up you agree to terms of use and privacy policy.

Send us your article

[formidable id=3]