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Jack and Rick Take on Goldman Sachs' Latest Layoffs and Wall Street Compensation

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Jack Kelly and Rick Chen break down Goldman Sachs' latest planned layoffs of 1,300 to 1,800 people as part of its annual performance review process. We react to the mega investment bank's plans to "cull" its workforce and why so many Wall Street firms and banks have annual layoffs. Jack reflects on how the situation is exacerbated by the stigma associated with being labeled a so-called "low performer" and how it typically impacts someone's job prospects in the future.

Rick compares the pay packages common on Wall Street and the finance industry with what you might earn at Nvidia, Meta or a startup in the tech industry. He also explains how stock options and restricted stock unit grants work and whether people really earn $500,000 or more in tech. Jack contrasts the tech industry's stock-based compensation with Wall Street's cash bonuses and explains which might be the better bet for your career.

⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://bit.ly/blind-podcast

https://www.forbes.com/sites/jackkelly/2024/09/03/goldman-sachs-plans-to-lay-off-around-1300-employees/

  continue reading

173 episoade

Artwork
iconDistribuie
 
Manage episode 438323220 series 3345649
Content provided by Blind. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Blind or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ro.player.fm/legal.

Jack Kelly and Rick Chen break down Goldman Sachs' latest planned layoffs of 1,300 to 1,800 people as part of its annual performance review process. We react to the mega investment bank's plans to "cull" its workforce and why so many Wall Street firms and banks have annual layoffs. Jack reflects on how the situation is exacerbated by the stigma associated with being labeled a so-called "low performer" and how it typically impacts someone's job prospects in the future.

Rick compares the pay packages common on Wall Street and the finance industry with what you might earn at Nvidia, Meta or a startup in the tech industry. He also explains how stock options and restricted stock unit grants work and whether people really earn $500,000 or more in tech. Jack contrasts the tech industry's stock-based compensation with Wall Street's cash bonuses and explains which might be the better bet for your career.

⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://bit.ly/blind-podcast

https://www.forbes.com/sites/jackkelly/2024/09/03/goldman-sachs-plans-to-lay-off-around-1300-employees/

  continue reading

173 episoade

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