Goldman Sachs Leads Wall Street's Post-Crisis Pay Slump

The video discusses a significant decline in compensation across major banks, with Goldman Sachs experiencing a 61% drop. This trend highlights a shift from traditional investment banking and trading to wealth management and consumer businesses. The discussion suggests a structural change in the banking industry, focusing on cost-cutting in trading operations and increasing investment in fee-based activities. The video also touches on the reduced need for large trading desks, exemplified by Goldman's downsizing.

What is the significance of the 61% decline mentioned in the text?

What was the average decline in compensation mentioned in the text?

What shift in focus among banks is highlighted in the text?

How has the structure of investment banks changed according to the discussion?

What does the speaker suggest about the future of trading desks in investment banks?