Goldman Sachs Group Names 115 Partners

Goldman Sachs Group Inc. has invited 115 employees to become partners, a designation that rewards them with a bigger share of bonuses at the securities industry’s most profitable firm.

Becoming partner “is very prestigious and you can get paid a lot, but it’s also very, very hard,” said Alan Johnson of New York-based pay consultant Johnson Associates. “They turn the treadmill up even faster.”

The title is a vestige of Goldman’s days as Wall Street’s last partnership. New York-based Goldman went public in 1999 after 130 years of ownership by the partners and now pays its most senior executives mainly in stock.