Goldman Sachs is the tenth Dow Industrial Company I have researched on Top-Tier Executives Long-term Average % Pay Raises Per Year and its 12.2% is the fourth highest of the ten Dow Companies.
One of the drivers of this 12.2% average annual pay raise was Gary Cohn's Total Compensation in 2016 of $67.2 mil, up 226% from the $20.6 mil in 2015. Cohn became a Cabinet member in the Trump Administration in 2017 and successfully was a strong advocate for cutting precipitously the top income tax rate on Corporations and on very wealthy US citizens.
In 2008, the first year of the 2008-9 horrific US Financial Meltdown which financially devastated so many US citizens in the middle and lower economic classes, the Goldman Sachs Top-Tier Group of Three Executives ..... Blankfein, Cohn and Viniar ..... had Total Compensation of a staggering $115.8 mil.
On one positive note from a fairness standpoint, these same Three Top Executives's Total Compensation was reduced to only $2.9 mil in total in 2009, the second year of the 2008-2009 US Financial Meltdown.
The US Government should pass wisely-designed Fair Pay Raise Income Inequality Narrowing Company tax incentives ..... the carrot ..... and wise Company tax disincentives ..... the stick.
The US Government should also require all US Corporate Boards to include at least one worker representative or else Income Inequality will never narrow.
I will continue this same research for many other large US Companies to get a better handle on just why the US has such massive continuing Income Inequality Expansion.
| FYE | FYE | FYE | FYE | FYE | FYE | FYE | FYE | FYE | FYE | |||||
| Goldman Sachs | 2018 | 2017 | 2017 | 2016 | 2016 | 2015 | 2015 | 2014 | 2014 | 2013 | ||||
| Top-Tier | Total | Total | Total | Total | Total | Total | Total | Total | Total | Total | ||||
| Executive | Comp | Comp | Comp | Comp | Comp | Comp | Comp | Comp | Comp | Comp | ||||
| $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | |||||
| Soloman | 20,663 | 16,376 | N/A | N/A | ||||||||||
| Chavez | 18,066 | 15,734 | N/A | N/A | ||||||||||
| Gnodde | 18,062 | 16,394 | N/A | N/A | ||||||||||
| Blankfein | 23,391 | 21,995 | 21,995 | 20,207 | 20,207 | 22,586 | 22,586 | 22,163 | 22,163 | 19,929 | ||||
| Harvey Schwartz | 19,858 | 20,105 | 20,105 | 20,535 | 20,535 | 20,178 | 20,178 | 21,285 | ||||||
| Cohn | 67,210 | 20,588 | 20,588 | 20,200 | 20,200 | 18,033 | ||||||||
| Sherwood | 19,531 | 24,639 | 24,639 | 21,062 | N/A | N/A | ||||||||
| Mark Schwartz | 24,272 | 24,159 | 24,159 | 24,225 | N/A | N/A | ||||||||
| Totals | 80,182 | 70,499 | 41,853 | 40,312 | 151,325 | 112,507 | 112,507 | 107,828 | 62,541 | 59,247 | ||||
| Annual % Change | 13.7% | 3.8% | 34.5% | 4.3% | 5.6% | |||||||||
| FYE | FYE | FYE | FYE | FYE | FYE | FYE | FYE | FYE | FYE | |||||
| Goldman Sachs | 2013 | 2012 | 2012 | 2011 | 2011 | 2010 | 2010 | 2009 | 2009 | 2008 | ||||
| Top-Tier | Total | Total | Total | Total | Total | Total | Total | Total | Total | Total | ||||
| Executive | Comp | Comp | Comp | Comp | Comp | Comp | Comp | Comp | Comp | Comp | ||||
| $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | |||||
| Blankfein | 19,929 | 13,301 | 13,301 | 16,164 | 16,164 | 14,116 | 14,116 | 1,026 | 1,026 | 40,947 | ||||
| Cohn | 18,033 | 12,486 | 12,486 | 15,804 | 15,804 | 13,863 | 13,863 | 925 | 925 | 40,299 | ||||
| Viniar | N/A | N/A | 12,499 | 15,813 | 15,813 | 13,958 | 13,958 | 946 | 946 | 34,599 | ||||
| Top Three Totals | 37,962 | 25,787 | 38,286 | 47,781 | 47,781 | 41,937 | 41,937 | 2,897 | 2,897 | 115,845 | ||||
| Weinberg | 16,875 | 11,885 | 11,885 | 15,753 | 15,753 | 13,811 | 13,811 | 733 | N/A | N/A | ||||
| Evans | 16,329 | 11,860 | 11,860 | 15,746 | 15,746 | 13,928 | 13,928 | 1,624 | 1,624 | 17,371 | ||||
| Totals | 71,166 | 49,532 | 62,031 | 79,280 | 79,280 | 69,676 | 69,676 | 5,254 | 4,521 | 133,216 | ||||
| Annual % Change | 43.7% | -21.8% | 13.8% | 1226.2% | -96.6% | |||||||||
| 8 Year Avg Per Year % Change | 12.2% | |||||||||||||
