Goldman Sachs Names 425 New MDs; Bankers Gain Share

Goldman Sachs has promoted 425 people to the position of managing director, the Wall Street firm’s second-highest rank. In 2013, the U.S. investment bank changed its managing director selection process from every year to every two years. The  title is the second-highest non-executive title that employees can earn and it is not only a sign of prestige but also comes along with a nice salary, as the chart below (for the UK) shows.

Goldman Sachs' banking division garner larger slice

After weeks of a grueling internal vetting process, Goldman Sachs named 425 managing directors on Thursday. Resonating same themes that have surfaced in everything from its quarterly results to management changes, this year’s...