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Based on the most helpful WSO content, here’s a breakdown of Goldman Sachs bonuses across different levels:

Analysts:

  • First-Year Analysts: Bonuses ranged from $75k (bottom bucket) to $115k (top bucket), with mid-level bonuses around $95k.
  • Second-Year Analysts: Bonuses topped at $145k, with mid-level bonuses at $125k and lower-end bonuses around $75k. Combined with a $125k base, top-performing second-year analysts could earn up to $270k pre-tax.

Associates:

  • Post-MBA Associates: Total compensation (base + bonus) typically ranges from $218k to $260k, depending on performance and group.
  • Associate 1: Bonuses can range from $30k to $110k, with higher-end bonuses for top performers.
  • Associate 2: Bonuses increase significantly, ranging from $55k to $150k.

Vice Presidents (VPs):

  • VP compensation becomes more variable, with bonuses heavily influenced by group performance and individual contribution. Top-quartile VPs can earn $400k–$500k all-in, though some may see lower figures (~$150k) depending on niche roles or bank performance.

If you're considering the Analyst-to-Associate (A2A) route, the bonus progression and total comp at GS are competitive, especially in top-performing groups. However, keep in mind that bonuses can vary significantly based on the bank's overall performance and your ranking within the group.

Sources: No More GS Discount - 2021 Bonuses, No More GS Discount - 2021 Bonuses, Life in Acquisitions (Analyst/Associate), Bonuses for Investment Banking 2017, London S&T Salary progression

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 
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GS in general will pay slightly below market, however for top performers generally pays decently. Recently, senior associate year right before VP is when you typically might see your first 100% of base bonus if a top performer. Very senior VPs / MD1 level is when you typically break the $1mm TC mark if in a top IBD group, but obviously extremely competitive and a grind to reach that.

Would say the decision to go A2A shouldn’t really align with comp and more so career interests. To get to that senior level where you’re hitting seven figures a year you need to be interested in what you are doing to fuel your drive, and find seniors who want to mentor and invest in you. If you spend your weekends reading about markets and thinking about investing, go to a HF / PE seat. If you get excited about winning mandates and selling, stay in IBD. You’re in a great seat, and if you’ve happened to have found a strong senior advocate, that can take you far. You can still move to the buyside as a junior associate if you want

 

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