Seeing many posts asking about TC at GS, hoping to clarify here (TC <100k not accounted for in polls) August 2019 TeamBlind Poll: Analyst (0 - 3 yoe): 100-150k: 44 votes (88%) 150-200k: 6 votes (12%) 200k+: 0 votes (0%) Associate (2 - 6 yoe): 100-150k: 12 votes (52%) 150-200k: 5 votes (22%) 200-250k: 5 votes (22%) 250k+: 1 vote (4%) Vice President (VP, 5+ yoe): 100-150k: 5 votes (21%) 150-200k: 6 votes (25%) 200-250k: 5 votes (21%) 250-300k: 3 votes (13%) 300-350k: 1 vote (4%) 350-400k: 2 votes (8%) 400-450k: 1 vote (4%) 450-500k: 0 votes (0%) 500k+: 1 vote (4%) November 2020 TeamBlind Poll: Analyst (0 - 3 yoe): 100-125k: 9 votes (45%) 125-150k: 8 votes (40%) 150-175k: 3 votes (15%) 175k+: 0 votes (0%) Associate (2 - 6 yoe): 100-150k: 8 votes (57%) 150-200k: 5 votes (36%) 200-250k: 1 vote (7%) 250k+: 0 votes (0%) Vice President (VP, 5+ yoe): 100-150k: 2 votes (22%) 150-200k: 1 vote (11%) 200-250k: 2 votes (22%) 250-300k: 1 vote (11%) 300-400k: 0 votes (0%) 400k+: 3 votes (33%) Not included in poll: Managing Director (MD, 8+ yoe): TC 500k at minimum, often 1M+ -Analysts with Master's degrees come in with 1 yoe automatically, and make Associate in 1-2 years -Analysts with Bachelor's degrees typically make Associate in 3 years, high performers in 2 years -PhDs come in as Associates -Associates make VP in 2-3 years -Promotions to Associate and VP are typically automatic and based on tenure -People can get promoted and see no change in TC -VP here is a terminal level, with TC ranging from 100-800k, median making 200-250k -TC during first year as a VP is same as TC as an Associate to motivate people to work hard, increase in TC does not happen until second year as VP -Promotion from VP to MD is very hard and mostly politics, there are chains of VPs reporting to each other -After TC >250k, a significant portion of comp is given in the form of stock which vests over several years. If you leave you forfeit that stock -GS recruiting policy favors hiring straight out of school, lateral hires are not the norm and typically do not make MD ever -TC = Base + Bonus (paid once annually 3rd week of January) -Bonus is decided by your manager and can go up or down. Good or bad annual performance rating can mean low or 0 bonus, there is no connection. There is peer feedback but final rating is decided by manager. -People are rated on a curve with 25% exceeds expectations, 65% meets, 10% partially meets. Annual layoffs of 5-10% of workforce -Many lateral hires leave after 1-2 years because they were offered high TC in the form of a guaranteed bonus, then afterwards their bonus tanked -TC heavily depends on bonus, which is a function of whether your team is front office, middle office, or back office, then how much your manager decides to pay you -Front office: investment bankers, traders, sales -Middle office: risk management, investment research -Back office: core engineering, operations -SWEs have roles in every division though most are back office. Front office SWEs may get paid well, sometimes -There's TC ranges on levels.fyi as well, check those out (and add your own entry)
What can someone expect in terms of annual raise on base, bonus? And what are some qualities to ace to be considered for making a MD?
No standard raise but generally speaking they do COL raises. MDs are either people who print money for the bank or can rally a base of MDs and partners behind them to get the promotion so politically saavy and smooth operators.
Lateral hires don't make MDs? I've been in two teams at GS and in both cases my MDs were lateral hires. One was from Lehman and another from some airlines. I can give more examples: - Atte Lahtiranta, our Chief Technology Officer came from Verizon - Marco Argenti, our Co-Chief Information Officer came from AWS - Dzevad Trumic, our Head of SRE came from Google
Those were hired as partners. However you're right in that I know several MDs that were promoted as VP hires initially
I think Dzevad is not partner