Core Insights - Goldman Sachs has promoted 638 new managing directors, marking a 5% increase from the previous year's class of 608, amidst a recovering deal-making environment [1][6]. Group 1: Promotion Details - The new managing director class is selected every other year, with the MD title being a significant career milestone just below partner level [3]. - The selection process involved over 6,000 interviews conducted by existing partners and managing directors, highlighting the rigorous vetting process [4]. Group 2: Class Composition - More than 70% of the new MDs come from revenue-generating divisions, including global banking, markets, and asset and wealth management [5]. - The class includes 27% women (172 individuals), a decrease from 2023 when 186 women were promoted [7]. - The demographic breakdown shows that 31% are Asian, 3% are Black, 4% are Hispanic/Latinx, and 51% are white [11]. Group 3: Performance Context - The promotion comes during a strong year for deal-making and trading, with significant increases in mergers advisory and equities trading reported in Goldman's latest earnings [6].