Hi everyone. I recently accepted an offer at a bank and was wondering what the salary would be for an entry-level employee at a bank like JP Morgan or Goldman Sachs.
I would also appreciate your thoughts on how helpful a rotational program may be towards future career development.
Thanks in advance!
| +139 | Restructuring: Anti-climactic Experience | 36 | 8h |
| +110 | IB Net Worth / Savings Check | 51 | 7h |
| +100 | Woman who emptied Knicks trashcan on street then stole it was DEI exec, worked at JPMorgan Chase | 25 | 5h |
| +80 | Stop sleeping on UBS - it’s pretty good | 29 | 4h |
| +70 | Hot take: I’d rather be at Desjardins than UBS for investment banking in 2026 | 13 | 11m |
| +56 | 2026 VAULT PRESTIGE RANKINGS | 30 | 1h |
| +39 | AI + Financial Modelling | 12 | 1d |
| +32 | Hardest interview experiences? | 20 | 1h |
| +28 | Summer before college | 17 | 19h |
| +26 | Current State of UBS in North America | 8 | 2d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Just to clarify, the purpose of asking this is to determine whether I have been offered a competitive salary at the bank I will be working for next year. Thanks
I don't have any experience in that industry, but I recommend Glassdoor to compare salaries
Thanks! I did check that and really didn't get a clear answer. There seems to be a large salary variance at Glassdoor. I guess associates and analysts at different salary grades put their salary together?
There is a database on WSO for compensation. It's really good.
It sounds like you got hired out of college and into a structured program. I know which firm you're referring to but don't know how they comp. I do know that most likely its probably market. These programs are fairly standardized across Wall Street.
If you're based out of NY, I'd imagine your base salary is somewhere between $55k on the low end, to $75k on the higher end... probably not much of a bonus component. Maybe a few thousand dollars and a coupon book.
At JPM or GS a comparable program? If so, I'd think they would probably pay in the same ballpark, but IMO a little bit higher than you're getting. In investment banking (that's not a comparable role to what you're doing though) at JPM or GS, it would be quite a bit higher (including bonus). You'd probably be looking at more like $70-80k base plus an additional $40-60k bonus.
In terms of what it does for your longer-term career goals... that's pretty tough to say without know what your longer term career goals are.
Oh okay. I was offered around that amount, but wow, I had no idea that was the entry-level salary for Investment Banking at JPM/GS.
I don't have a long-term career goal as of yet (besides working my way up in a financial services firm). But my short-term goal is to move into consulting for a few years at Deloitte, KPMG, PwC, or EY.
btw, congrats on accepting the offer. Out of curiosity, did you try applying to big 4 consulting?
If you were able to get this position, getting on with one of them straight out of college shouldn't be that difficult for you (depending on your major and the group you want). The only issue I would see is the need to be CPA eligible but I believe that only is necessary at most groups in KPMG.
FO roles in any major finance cities (NYC, SF, Chicago etc) are pretty standard base $70k and $5-15k signing bonus. Discretionary bonuses are the big ones that come at the end of the year and they vary widely depending on firm, role, contribution etc. BO roles will be lower and don't always include a discretionary bonus.
The rotations will be in FO, MO, and BO, but I would start off in the front office. Does that affect the salary?
I really wouldn't know about that. I've never heard of a rotational program like that outside of mutual fund companies like vanguard, fidelity, Franklin Templeton etc. If that's the case though it would seem likely that any end of the year discretionary bonus would be smaller since your ability to contribute to any one money making division would be less.
With a $35bn market cap, I assume you mean >$350bn in AUM? As others have stated, in NY, you can expect between $60-70k base.
More than $1 trillion. Does that change the salary?
60-80 base, 50%-75% bonus is the standard.
Some groups structure it to 60 base and a sharp jump (to 80, for instance) in the second year, to add incentive to sticking around.
Adipisci sit qui laudantium impedit incidunt quia. Iste cum officia modi ut labore. Nihil est quo et sunt dolore incidunt veritatis. Fugiat illo et dolor nostrum. Ut debitis et quidem.
Error perferendis ad occaecati sit tempora et. Quo earum error molestiae sit. Enim molestiae accusantium qui repudiandae consequatur blanditiis. Neque architecto ratione qui ipsa distinctio. Rerum veniam maxime et non maiores sunt.
Est itaque amet deleniti reiciendis a aut voluptatibus. Eaque modi reprehenderit similique quo eos fugiat eos. Totam optio mollitia illo adipisci. Quasi iste ipsa aut consequatur.
Non ut facere sit beatae rem consequuntur ipsa. Aliquid labore dolorem beatae aut. Quo enim et sit exercitationem illo quae.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...