Evaluate my offer please? Title: VP Base: 170k Bonus: 40k (Non prorated, paid in full in january, but not guaranteed after the first year) Location: jersey city Division: Transaction Banking Operations I have 10 years of experience. Current TC is 170k. Need some help to evaluate if I’m being low balled.
Why are there so many VPs at Goldman Sachs? What's with that title?
It’s the financial sector. If you have more than 6-8 years of experience. You can become a VP.
Because in finance VP to ED is extremely difficult to attain, so a lot of people usually level out at VP or leave altogether.
Is it Front Office?
No. Back office
Then those numbers are good. You might be able to get an extra 10-15K depending on your interview performance and how bad they want you.
You can definitely squeeze more but GS does underpay. Base seems like a VP base but that bonus is absolutely fucking cringe worthy. You should be getting more than double my dude. That was my last bonus and I’m a 3 YOE associate. Edit: to clarify I know little about VP salary. With 10 YOE that base is probably also too low. All I know is that’s a low TC. I’ve met VPs with less YOE pushing 250k
They low balled you. I have seen VPs with less experience coming in at 350k (~250 base). I’ve seen these in NJ/NYC.
For operations in NJ, it is an okay offer. Ask for 200 base for it to make sense for you. 200+100 is standard VP3 offer in NYC. But they are limiting those to reduce costs. Hiring is moving to lower cost locations. In general there is downward pressure on comp across the firm. That’s one of the reasons so many departures.
For back office in Jersey City it seems pretty fair / on point to me, but may be worth pushing for more. Agreed with everyone’s comments that you should expect to receive slightly below market comp for the GS name - not saying that’s justified, but that’s what it is.
This is on the average side for GS. GS treats their tech teams horribly. It’s also a very top down culture - the director can screw you over easily regardless of your actual performance. Go to a tech company and you’ll make double that and you’ll do much cooler stuff too. If you are in a bind, take it and plan to leave soon.
Compare to levels.fyi. can def ask for more with 10 YOE, realistically maybe 40 to 50 more if can strong sell
This offer is close to what Associates get paid in Dallas... really bad considering no income tax in TX
I don't think associates get 210 as patc .. that's definitely a VP salary.
What part of the firm do you work in, BonusBoy? Analyst w/ PATC of $90k (75/15) wondering if I should be moving to a more pure tech/eng role.
Seems a bit low but it's not a front-office position unless I'm mistaken ? Goldman is also known for making you 'pay' a premium for the name. You can always ask them to reevaluate FO VP at Goldman would be more 200k base and 100k bonus from my sources
Thanks UsGw48! It’s not front office. I want to go back to the recruiter with a number but not sure how much higher I can ask for
Is it the same for front office tech ? Like developer of an execution system for example ?