Hi, I received a job offer from Goldman Sachs for a junior associate position with 95K base in SLC. I have 5 years of experience but not in finance. Can anyone explain how the levels work at Goldman Sachs? Could you get promoted to a VP from a junior associate? I feel like I deserve a senior associate title but I'm scared to negotiate with the current scenario. Offer TC: 95k base + 12% overtime + 10% bonus YOE: 5
it’s formulaic, they don’t really negotiate.
and once you’re vp you will be quartiled in a tougher group and your comp will go down …
Thanks for commenting, would you mind explaining this?
once you get promoted to a new title, you are been quartiled in a tougher group with more experience than you so you are more likely to end up in the lower rank of that group and thus your comp will go down. also TC growth is always lower in more senior group.
This is why ops is a joke. GL OP. I was a GS SLC strat, 0 YoE + PhD, 100k base + 50k bonus. I started as an associate straight out of school.
I've worked in the slc for a while now and one of the associates in my department got promoted to vp over Christmas. I am not sure how the junior associate would work because we don't have any in my department but it from what I've seen most people have to have 8+ yoe to have a real chance at vp
The levels go like: NAPA (New Analyst) - out of school Analyst (after 1 year as NAPA) Associate (2-4 years) VP (3-6 years) MD (if you so lucky) Partner God on thech track you also can be "Senior Engineer" - a bit above VP. or "tech fellow" - a bit below MD. It is pretty normal to join as Associate with 5 yoe. If you do you job, likelly you will get VP in a year or two. job in Operations will not get you much bonus. Try to jump into a revenue producing division and move to NYC. Learn Slang, SecDB and Hull's Derivatives book.
They are in ops which has a few different titles
Why learning slang and secdb. Java and Python is just better
Did you receive the offer after the firing last week?
Hi when did you get the verbal offer and the written offer? Been waiting for written offer for a few weeks so curious about your timeline.
How many days it took finally for written offer and joining?
What division? I think you can try negotiate for the title, shouldnt hurt
Operations division
Also, i feel like if you are good, you can be promoted to Sr after 1 year, and VP after another year. It’s typically very hard to get promoted to VP in your first year as lateral hire. VP after 2 year at associate is considered very good