Greg Smith’s Book Advance Could Exceed His Goldman Salary


Goldman Sachs executive turned muppets’ rights advocate Greg Smith, who jumped into the spotlight earlier this month by resigning from the firm via the New York Times op-ed page, has been shopping a book around. According to the Post, his words are now worth quite a bit more than $150-per-column: Apparently, the proposal has triggered a bidding war among publishers that could reach the $1 million mark — more than Smith’s annual Goldman salary, which, as some detractors pointed out, was “only” $500,000 to $750,000. So, assuming he has committed himself to the goal of putting out a book every year, this whole thing could actually turn out to be a good financial move for him.

Meanwhile, the episode could also prompt a career change for CEO Lloyd Blankfein. In the wake of all this bad press, some shareholders are asking that Blankfein be replaced in order to “repair [Goldman’s] reputation and reduce the potential for conflicts of interest.”