I am aspiring to work at Goldman Sachs in the next few years, it is going very well and I wanted to know if the salaries I am currently being quoted seem correct to you guys? They are as follows: 1st Year Analyst - ($80k salary + $40k bonus) = $120k 2nd Year Analyst - ($90k salary + $60k bonus) = $150k 3rd Year Analyst - ($100k salary + $80k bonus) = $180k 1st Year Associate - ($120k salary + $80k bonus) = $200k 2nd Year Associate - ($140k salary + $105k bonus) = $245k 3rd Year Associate - ($160k salary + $130k bonus) = $290k 1st Year VP - ($180k salary + $140k bonus) = $320k 2nd Year VP - ($200k salary + $150k bonus) = $350k 3rd Year VP - ($210k salary + $160k bonus) = $370k 1st Year ED - ($225k salary + $175k bonus) = $400k (This doesn't apply to Goldman but is instead for other IBs as I am not guaranteed to make Goldman) After this it should theoretically be possible to make Managing Director (my ultimate aim) Please let me know any changes I should make to this forecast at any level, as I am particularly unsure on VP and ED, which seem low to me.
The salaries pale in comparison to FANG for the most part. What’s all the hype about these consulting companies and top MBA, if you can’t even make as much as FANG?!
I can't say I know a great deal about career paths at FAANG or what qualifications they would need, I felt the job I was best suited to was IB. Also for frame of reference, once you are an MD (11th-13th year on average) you can make anywhere from $600k-$10m
@LinkedIn The hype comes from before around 5-6 years ago when it was common for entry-level CS grads to make less than 6 figures (or barely crack it). The high TCs in tech are thanks to the high stock prices, which is a pretty recent thing. Our base salaries haven’t gone up as significantly.
It is indeed IB
Thank you for sharing
First of all there is no ED title at Goldman 🙄 Secondly ... you lost me at “am about to begin work at Goldman Sachs” followed by “in the next few years” ?
I am aware of that by the way, and I have just rejigged the wording to make it more understandable
Ok .... also once again ... there is no ED title at Goldman .... and 3 years of VP title isn’t worth shit .. you can practically retire as a VP without ever being promoted to MD level ..
Are you in NY or UT?
I will probably decide to be based in NY
What's your source for these numbers? wallstreetoasis?
someone mentioned in another thread 5 yoe can make over 1 mill, not necessarily GS but finance.
You are assuming a LOT of things.
I have no idea. But I can say that it’s less than FAANG. With 10 YOE at FAANG you can fetch 500-600k. (More is possible but rare.) Just saying.
I can't say I know a great deal about career paths at FAANG or what qualifications they would need, I felt the job I was best suited to was IB. Also for frame of reference, once you are an MD (11th-13th year on average) you can make anywhere from $600k-$10m
How rare is it to make Md though? I assume that is around director or vp level at fang which gets into the 7 figures. But also those potions are really hard to get