As though the multi-million dollar bonuses aren't enough to make the rest of the world envy Goldman Sachs bankers, its new headquarters will include a shiny new 54,000 square foot gym. That sure beats our "gym" here at Atlantic Media, which might be 250 square feet. But oddly, Goldman's isn't free. And even stranger: the pay scale is proportional to your level at the firm. What's the logic here?
Social Workout reports on the story and provides a few pics. Its article questions the monthly fees which run:
$132 - Managing Directors
$75 - Vice Presidents
$51 - Everybody Else at Goldman
Where to begin with this? First, this would seem to suggest that there are only three relevant levels of hierarchy within the Goldman empire. Yay FLAT bureauracy-free management structures! Or perhaps BOO extreme concentration of wealth at the top! But the really wonderful thing is the huge $57 break that Goldman Vice Presidents get on their gym fees vs. the "MDs." Look, an MD might make $20 million a year and have several hundred million in Goldman stock, and so he or she can afford that extra $684 a year. But a poor vice president is probably only making a few million a year, and those savings go directly to the outrageous cost of private schools on the upper east side. Hurray for progressive sliding scales!
Indeed. Goldman is so progressive, presumably it couldn't help but save the "little guys" a few bucks. Any given Associate is probably only making a paltry $350,000 per year or more, so $51 per month is clearly all they can afford. (For the record, when I moved to New York City after college and was barely halfway to making six-figures, I managed to afford a gym membership that cost $65 per month.)