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.

 
Funniest

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.

 

Do you not think that total comp will stay the same? Higher base but lower bonus? Oldest trick in the book.

 

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.

 

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

 

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....

 
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.

 

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

 

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.

 

You don’t know what you’re talking about. Im in IBD and they haven’t even told us yet.

 

Anyone know if other BBs will increase again? And could GS be lowering bonuses such that total comp is less affected?

 

Hasn't been communicated yet. We're supposed to hear later this week

 

Does anyone know if the raise include AFG or is just for Classic?

 

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)

 

Idt these raises apply to SA. Could be wrong but p sure SA is p much 85k all around still

 

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