GS Raising Base - Litquidity

Pretty self explanatory. GS raising the bar, no other bank paying 125 to AN2. Thoughts? Only leaves the boutiques (CVP, EVR, PWP, MOE, LAZ) and Jefferies as having not raised base.Also if anyone at GS could confirm that would be sick.


Idk if the picture is visible for y'all but it's on litquiditys story.

Comments (128)

Funniest
  • Intern in IB - Gen
Aug 1, 2021 - 9:16pm

125 AN2... AN1 probably 110? 115?

GOD BLESS THE PAY, EXITS, AND NAME. I LOVE YOU DADDY SOLOMON.

Edit: according to Bloomberg, AN1 110 confirmed.

  • Intern in IB - Gen
Aug 3, 2021 - 3:51pm

Yeah. Tons of people have brought this up so just keep reading. But I think the consensus is that it's still preferred because 1) many people prefer the fixed guarantee rather than it being variable based on if the M&A markets were hot that year and 2) I believe that base is taxed at a lower rate than your bonus is so overall you may be saving more of that same TC.

Edit: I stand corrected on point #2 based on the comments below. Point #1 still stands.

  • Incoming Analyst in IB - Gen
Aug 4, 2021 - 6:10pm

Will the summer intern salaries get bumped up too?

  • Analyst 1 in IB - Cov
Aug 1, 2021 - 9:44pm

CVP is gonna bump it to 150 or something crazy. The shops that have already raised are going to need to raise again. 

  • Intern in IB - Cov
Aug 2, 2021 - 1:36am

I thought CVP was more about average base and ultra high bonus

Aug 1, 2021 - 9:51pm
Harvthrowaway, what's your opinion? Comment below:

After all the shit GS got they hit the industry with a 180. You absolutely love to see it. Looking forward to other BBs and EBs cementing the increase

Aug 2, 2021 - 10:13am
financefun, what's your opinion? Comment below:

https://www.bloomberg.com/news/articles/2021-08-02/goldman-sachs-bumps-junior-banker-pay-aligning-with-rivals#:~:text=Goldman%20Sachs%20Raises%20Junior%20Banker%20Pay%2C%20Aligning%20With%20Rivals&text=First%2Dyear%20analysts%20at%20Goldman,identified%20discussing%20a%20private%20matter.

  • Research Analyst in AM - FI
Aug 2, 2021 - 9:26am

Really no point in jumping straight to buyside now huh.. same pay, same hours, but "more interesting work". Suddenly IB at Goldman is the most intellectually stimulating place to work for me. 

  • Associate 1 in PE - Other
Aug 2, 2021 - 10:29am

Man this is already a massive 20k improvement for AN1 vs last year, or even worse, 70k was median total comp for AN1 at GS last year - think about that and how much we were screwed just one year ago. Be happy about it and move to the buyside as quickly as possible - you will get paid in USD there.

Aug 2, 2021 - 4:30pm
aaltyu, what's your opinion? Comment below:

Before today, London A1 = £50k base, or $69k vs $85k NYC (i.e. 19% discount)

As of today, London A1 = £70k base, or $97k vs $110k NYC (i.e. a 12% discount)

The 'gap' between NYC and London has shrunk to a pretty negligible level now. Bear in mind also that rent, eating out etc (which will make up a large % of analyst salary) are much cheaper in London than NYC. The "true" exchange rate/ purchasing power dometsically hasn't changed since pre-2016. What £1 gets you is the same as what ~$1.60 gets you. So in real terms, London and NYC are on par. Sure you'll save up a bit less, but we're talking tiny figures here.

And as the above poster says, just be happy with, and greatful for, the extra £20k a year extra. We also work much less than our peers in NY and will actaully have a chance to spend some of our extra money on nice holidays... that we can actually take....

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  • Analyst 1 in IB-M&A
Aug 10, 2021 - 3:02pm
aaltyu

Before today, London A1 = £50k base, or $69k vs $85k NYC (i.e. 19% discount)

As of today, London A1 = £70k base, or $97k vs $110k NYC (i.e. a 12% discount)

The 'gap' between NYC and London has shrunk to a pretty negligible level now. Bear in mind also that rent, eating out etc (which will make up a large % of analyst salary) are much cheaper in London than NYC. The "true" exchange rate/ purchasing power dometsically hasn't changed since pre-2016. What £1 gets you is the same as what ~$1.60 gets you. So in real terms, London and NYC are on par. Sure you'll save up a bit less, but we're talking tiny figures here.

And as the above poster says, just be happy with, and greatful for, the extra £20k a year extra. We also work much less than our peers in NY and will actaully have a chance to spend some of our extra money on nice holidays... that we can actually take....

Wrong, base for AN1 is only 65k. The London discount is alive and well. Would try to get out of there ASAP lol.

Aug 4, 2021 - 3:46pm
Sergy, what's your opinion? Comment below:

I heard the same, do you have any info on how accurate / certain this info is?

  • Analyst 1 in IB - Gen
Aug 2, 2021 - 10:16am

I don't think anyone knows yet since GS has not sent out formal communication. People found out in their internal HCM portal (no idea where) about the raises and then I think some banking teams were called today, along with Bloomberg reports. So until they send out info, no idea if there is going to be any increase to S&T/GSAM even if its not the full 110/125

  • Associate 1 in IB - Cov
Aug 2, 2021 - 5:56pm

well.. the 125k to 150k leaked associate "raise" can't be the actual change to associate 1 salaries because they've already been paying 150k to AS1s for a few years now (so the data point or "leaked" data point doesn't make any sense). The firm hasn't announced yet what, if any, comp changes will be made for the associates and up so I'd hang tight.

  • Intern in IB-M&A
Aug 2, 2021 - 4:13pm

https://www.wsj.com/articles/goldman-sachs-is-giving-entry-level-bankers-a-nearly-30-raise-11627930285?mod=hp_lead_pos6

Aug 2, 2021 - 10:34pm
FinlayAR, what's your opinion? Comment below:

Is this just IBD? Or does it go for things like S&T as well?

  • Intern in IB - Gen
Aug 4, 2021 - 3:23pm

Don't know if you're

1) outside of GS and mocking me because you didn't know that GS IBD is split into Classic and AFG (in which case don't be so quick to be snappy and make a fool of yourself, asshole, some banks only raised coverage and not capital markets)

2) within GS and mocking me (in which case it's a perfectly reasonable question to ask and you're still an asshole, but thx for letting me know that AFG is included and I'll enjoy the raise)

  • Intern in IB - Gen
Aug 3, 2021 - 1:45pm

SA offer letter that I just received still says $85k

Aug 7, 2021 - 2:54pm
ABanker26, what's your opinion? Comment below:

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Aug 8, 2021 - 5:56pm
Cj-Chan, what's your opinion? Comment below:

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Ut est consequuntur voluptate debitis. Velit nihil nisi reprehenderit sapiente corrupti voluptas.

Aug 8, 2021 - 6:30pm
ABanker26, what's your opinion? Comment below:

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Eius voluptatem est nemo aliquid voluptatem est. Dolorum officia necessitatibus autem dolorem. Cum explicabo ipsum molestiae ex sed. Ab cupiditate sed est praesentium facere. Et commodi voluptatem non quia. Ut et exercitationem nostrum rerum necessitatibus ea cum autem. Inventore placeat culpa et temporibus excepturi reprehenderit doloremque.

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  • Analyst 1 in IB - Cov
Aug 9, 2021 - 4:20pm

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