$773k income this year?
According to this Fortune article, GS employees are on track to have an AVERAGE income (sal + bonus + whatever) of $773k.
http://money.cnn.com/2009/07/14/news/companies/go…
Is it reasonable to expect an associate to make this much money, or are the numbers skewed by VPs and MDs who make millions?
Do all the divisions get huge bonuses, or are they mostly given to the revenue generators (traders)? So would someone in M&A get a big fat bonus this year too?
I'm going to B-school this fall and hoping to transition into i-banking. GS would be a dream company for me :)
That number is heavily skewed to directors/md/blankfein.
Traders eat what they kill. Last quarter ther FICC group at GS made OVER HALF of the revenue. Baller.
Even VPs don't make that much.
sorry to burst your bubble, but that number is probably more like taking $$ set aside for bonuses divided by # of employees.
The profit pot is mostly divided amongst general partners (assuming they still have this system?), executives, MDs. MDs will get paid based on their revenue-generating capabilities.
Edit: As an an associate, you may be able to pull in something like 250-300k by your 3rd year. that was in a good year.
VPs do make that much. I know for a fact that in 2007 one of the guys who was a 2nd year VP at the time made 800.
I'd go as far as saying that the median VP in investment banking will make close to that number this year.
At Goldman Sachs that is
Not completely ridiculous. If you're average analyst makes $150K and your average MD is making $2M (total guess) - you'd need about 2 analyst per MD and some ratio of Associates to Directors and then your VPs would be at about that range.
So, it's definitely possible based on a total back of the envelope calculation.
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