I was a summer intern with the firm in 2020 and returned to join the firm full-time in 2021. I joined the same team, GBM, where I interned. When I joined, there were a few good folks on the team - by "good folks," I mean people who are fun, easy to relate to, and good to work with. Over the course of the years 2021/2022, all these folks have left the team, going from a headcount of 11 in Q1 2021 to 6 in Q1 2023 - this is very indicative of a low retention rate. I would be lying to myself if I said I don't know why the majority of people felt the need to leave the team; it’s largely for the same reasons that would make me consider leaving. For some personal context on the shared frustration: I was a Computer Science major with a passion for engineering and core computer science, and I can say that I have quite a knack for CS (though I fear this statement has weakened). My friends and I, who graduated the same year with CS degrees, have all joined big tech companies (Google, Bloomberg, Meta, Amazon...) or investment banking firms (Goldman Sachs in my case). My colleagues are all earning very competitive total compensations (TCs) in their tech firms for doing real engineering. I, on the other hand, am stuck with difficult co-workers in fintech, which involves about 40% engineering and 60% finance, for roughly 40% of the TC that I know I'm worth (or what my friends are earning). I do not enjoy a single aspect of the work I do here. My 2022 was technically wasted as there was no return on investment, either skill-wise or salary-wise. Of the people who have left over the years, all but one of them left for the same reasons I elaborated on above. It is extremely mentally exhausting to wake up each day to work that makes you certain you are wasting time because there is no guarantee there will be any payoff. I have mostly spoken about the work; the people, interpersonal work relationships, and connections also factor into this frustration. PS: I believe my team is meant for folks who enjoy finance more than engineering, as on several occasions I have heard people say, “Who cares about the engineering?” ☹️. To summarize, the attitudes towards engineering, the nature of the work, team relations, and TC really impact my performance as an engineer. To be honest, in my mind, I sometimes feel like I am wasting away here. Title: Analyst YoE: 2.5 TC: 60k Location: London I'm posting this here for advice or tips from people who have experienced such a dilemma, and yes, I know it's a lot of words🙂. It’s just a lot bottled up; maybe I need a therapist.
DM me buddy! Was at GS with the exact same issue
Sounds like you just need to find your next job
60k is new grad base at GS London. What is your base and bonus?
Base: 60k, bonus was 5k, TC: *65k