Goldman Sachs Full time Equities Derivatives Analyst (Ops)
Hello everyone,
Ok, the deal is I was hired by Goldman Sachs in the operations division this November. I start in July. They placed me in the Equities Derivatives sector. From what I have researched, this is actually a middle office position unlike compliance or something along those lines. So my question is this: Do I stand a better chance at receiving a larger bonus and a chance to move up than someone in a less important operations position?
NOTE: I'm not one of those people who are hell bent on becoming an I-banker; Most certainly not. I want to live well and make good money without sacrificing my entire life. I am starting at $55,000 with a $10,000 sign on bonus. I'm 22 years old. I am also eligible for a year end bonus.
Someone told me that being a Derivatives analyst would eventually put me in the "Cat-Bird seat" over other analysts within operations. Is this true? Should I be excited that I am in this sector instead of
Sorry that I'm all over the place, but what kind of path am I looking at here? What kind of pay and bonus structure would be realistic? I want to be able to help my family out. My mother is very sick.
Thank you.
I cannot comment on your particular situation because I am sort of seeking the same information myself. I'm am considering a SA position in Derivatives Ops at a BB. But the question that I have has been asked numerous times on this forum and nobody has ever given a clear-cut answer! It is: What is the yearly pay increase for a position within the Operations Division. So a full-time analyst starts at 55K, but where will he or she be at in 5 years as far as base pay??
No matter what, it is very very very tough to "move up" in operations or distinguish yourself enough to get a monster bonus as it is almost impossible to quantify your work. For example, a trader could show his P&L and demonstrate why he deserves to be paid more. As an operations analyst, you can't really say "I cleared more trades" or something along those lines in order to demonstrate you should be paid more. So for your question about the timeline for "moving up" in operations, I can't say there is a great possibility of making something over $150k a year, and that is still not probable. I know certain people who are in staff positions, IE compliance, legal, HR, ops and they can make lots of $$, but those are few and far between and most have graduate degrees which distinguish them, IE they are former lawyers who are now working in legal departments for BBs.
Now onto the most important part. Since your profile states you attend Albany, I will assume you are from Upstate NY or possibly LI. If you're in upstate NY, then working in Jersey (I assume since that's where you'll be working because the ops people are there), then if you are worried about your mom it's not going to be easy to see her often. If you live in LI it could be a different story. You have it better in that operations analyst, no offense, aren't terribly important so they work less than S&T analysts and much less than IB analysts. But at the same time, this is an important decision. At 22 you have a long life ahead of you, but if your mom is sick then it could be worthwhile to defer this job, at least for a bit, if you think she might pass away soon. This isn't like some incredible time sensitive offer, ops is not a tough job to get so if you did forego this one its not like you would never get another shot. This is the only instance where a Goldman job has no more cache than any other BB or MM job.
What is she sick from? That will be important because depending on this I have a few recommendations for you that could help you see her and could improve your career prospects.
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