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Goldman Junior Banker Uprising Was Ignited by Son of TPG Leader

  • Slide deck on toils of trainees set off an industrywide debate
  • Virtually every big Wall Street firm has since granted raises
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Aug. 18: Most Junior Bankers Now Make $100,000 in First Job

The question has gone unanswered for months: Who were the Goldman Sachs bankers who complained so passionately about life on the lower rungs that the firm and its rivals gave raises to legions of rookies?

The unauthorized Goldman slide deck that went viral early this year, laying out the frustrations of 13 junior investment bankers, set off the closest thing modern Wall Street has ever had to a proletariat uprising from within. Surprisingly, a newbie at the center of the project has deep roots in the business.