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.
| +131 | Is my life over after not getting GS? | 32 | 2h | |
| +111 | BEING WHITEGIRL IS PARADISE | 20 | 19m | |
| +73 | Best IB group on the Street | 35 | 52m | |
| +65 | Thoughts and tips on how to speak like an investment banker. | 25 | 20h | |
| +58 | BIG FOUR ARE PARADISE | 15 | 21h | |
| +49 | Tell me one good reason why Jefferies isn’t going to be a top bank in the next 5 years | 23 | 14h | |
| +38 | UBS Outlook | 28 | 1d | |
| +35 | How to deal with egotistical team? | 6 | 3d | |
| +33 | Highest Paid Bankers in Toronto? | 51 | 19h | |
| +31 | Are you “less ambitious” for having long term goals outside of NYC | 13 | 4h |
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.
@rich handler
Bumping. It’s brutal out here man. We need a raise 🤥
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.
Are you interning there now?
Joining IBD next summer. Gonna fight harder than ever for that return.
Don't worry, I am sure they will hold the return over your head and demand long hours in exchange.
Which is no different than how it has always been
Joining IBD next summer too, wonder if they'll give us a bump
I did some math:
Our current offer letters compute =ROUND($85,000/52/40, 2) and =ROUND($85,000/52/40/2, 2) to derive our normal and overtime pay rates of $40.87 and $20.43, respectively.
If we were pro-rated at $110,000, our rates would be $52.88 and $26.44... not a bad bump.
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.
They said that bonus will also increase
"its the overall package"
meanwhile PATC stays flat
Will the summer intern salaries get bumped up too?
Guess PJT/EVR/CVP gotta push it to 130 then lol
Some of these have 125k Associate 1 base...would be a big change to make analyst base higher than old associate base
*Weinberg @ EVR preparing to send another book*
Has evercore been a sweatshop with lots of turnover similar to gs recently?
That's a good one hahaha
definitely a lot of turnover from what I hear
Big if true
CVP is gonna bump it to 150 or something crazy. The shops that have already raised are going to need to raise again.
I thought CVP was more about average base and ultra high bonus
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
Wonder if this is the end of the GS discount or if they'll cut bonus
Anyone know what the analyst 1 base is set to be? Or how to find it on the GS internal page?
so do we think JPM/Barclays bumping up again from 100k?
ye
hoping you're right
no way jpm gonna bump again
I fucking hope so because all of a sudden I feel like I'm living in poverty.
Or they will all not raise again and say "If you behave like that you simply end up with mercenaries. We pay at the end of the year for performance."
@James P. Gorman - your move
...$100/105 an salaries was not enough to benchmark
Yeah curious if a lot of the other BBs will shift again?
Please help me summon our almighty Emperor Mr. Handler. Don't make me slide in Skylar's DMs
Man…balls of steel
Any word on associates? Not the associate 0 which is now 150, but associate 1?
175
Where did you see this?
150/175/200
think any other divisions could get bump?
MS/JPM shaking rn
Confirmed. AN1: 110, AN2: 125, AS1:150
Associates got Nada
How do you know? Was this confirmed for analyst?
https://www.bloomberg.com/news/articles/2021-08-02/goldman-sachs-bumps-….
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.
This
Yep, you’re right. You totally didn’t want that KKR job anyway
Apparently 70/80k for UK An1/2, disappointing to see London getting screwed on the exchange rate again..
shouldn't have left the EU
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.
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....
Wow 70k in london?? Can someone confirm cuz this is at least 10k above street for BB base
Wrong, base for AN1 is only 65k. The London discount is alive and well. Would try to get out of there ASAP lol.
I heard the same, do you have any info on how accurate / certain this info is?
anyone know if this effects GSAM analysts / associates ?
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
IBD analyst, havent been contacted yet
From Bloomberg:
1st year analyst - 110k
2nd year analyst - 125k
1st year associate - 150k
So GS is above everyone else right now.
Is the GS discount gone or are they going to slice bonuses now?
1 - How would anyone know
2 - I doubt they will give 30-40k bonuses to get to 140-150k all in
3 - Having 25k more of guaranteed comp > a smaller year end bonus
If associate 1 is just 150, there’s still a Goldman discount
They’re still behind on Associate 1. Plenty paying 175 now.
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.
Any news regarding the pay bump for Analysts in London?
3D CHESS PLAY
9000 IQ MIN
And London?
Is it just IBD or will ER, S&T, and GSAM get the same increases?
I have a couple friends in AM and they didn't get a raise
You don’t know what you’re talking about. Im in IBD and they haven’t even told us yet.
Did AS2 and AS3 get bumps?
.
Is A1 60k?
https://www.wsj.com/articles/goldman-sachs-is-giving-entry-level-banker…
Are we expecting to have raise for other divisions?
Anyone know if other BBs will increase again? And could GS be lowering bonuses such that total comp is less affected?
literally no one knows
i love GS
Title of the thread has me thinking, imagine if WSJ or Bloomberg sourced the raise from Litquidity. Like, "GS Raises Junior Banker Compensation. Source: Litquidity."
lol. That would be funny. Liquidity got if from Bloomberg
Is this just IBD? Or does it go for things like S&T as well?
Hasn't been communicated yet. We're supposed to hear later this week
Any word on when? I had heard it would be early next week since this week they are focused on final week of internships.
Does anyone know if the raise include AFG or is just for Classic?
Is that a joke? IBD is IBD
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)
SA offer letter that I just received still says $85k
DANN LATERAL TO TECH ASAP
Idt these raises apply to SA. Could be wrong but p sure SA is p much 85k all around still
That's tragic. Sick flex tho.
how are GS bonuses looking?
Unbelievably high. Comp calls just in.
Can confirm. Bonus was ~175% of base.
Juicy AF apparently - mid bucket was 95k, top bucket 105/110k
Product groups?
bump
anyone know if base increase is for other divisions like gsam?
Confirmed. Second year analyst in my team at GS got 145k. Wow.
145K base? That's insane
Molestias facere praesentium vitae enim quod ipsum debitis. Omnis repudiandae fugiat et. Vero minus voluptatem et enim repellat modi. Architecto alias ut placeat quae eaque beatae et.
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...
Suscipit et consectetur fugit quia illum consectetur. Non laudantium perferendis ratione. Reiciendis eius occaecati sint ea.
Nesciunt maxime assumenda aut recusandae in dolores sed ut. Totam quia corrupti nobis quam culpa incidunt est. Consequatur velit natus cupiditate atque veritatis voluptatibus eum quasi. Alias sed harum aut quibusdam esse quo et.
Id id error officiis eum nulla cum. Hic voluptatibus et nisi asperiores quaerat in hic. Reprehenderit enim tempora et cumque facilis dolorum. Officia qui quae eum.
Aut quos voluptatem magnam architecto commodi. Aspernatur sed quos ratione commodi numquam. Et consequatur aspernatur et laborum itaque quae aliquid. Animi dolores ut voluptas incidunt. Velit ipsa exercitationem ab. Et accusamus nobis aut eum atque asperiores id.
Voluptas modi eius eligendi ratione nulla autem. Et sint et ex enim. Quos quisquam nihil eos laborum laboriosam. Id consequatur est asperiores repellendus ut.
Quod ut quisquam itaque et. Quia repellat blanditiis non laboriosam nostrum omnis deleniti beatae. Officiis natus quod magnam cumque.
Quam modi natus numquam et ducimus amet autem tempora. Deserunt officia eos omnis excepturi blanditiis dolores. Atque deleniti repudiandae voluptatem sit blanditiis. Ullam sint soluta quo id earum dolores. Accusantium ducimus quod quia consequatur. Assumenda quidem velit quas quibusdam blanditiis. Ut rerum ut eius corporis.
Quia necessitatibus sit animi est qui adipisci eos. Maxime provident blanditiis consequatur aspernatur.
Est eum iste nesciunt. Dolores quos facilis commodi nihil doloribus natus. Autem aut ab quis similique commodi nihil. Unde omnis amet dolores consequatur. Minima vitae eos dolorem libero eligendi veritatis. Odit omnis nihil tempore quas placeat.
Labore sed voluptatem accusamus atque voluptatem aut. Reprehenderit minima similique vel et voluptatem. Qui perspiciatis laboriosam corrupti in aut omnis. Ea aut voluptatem omnis molestiae et voluptate. Deserunt ea nisi similique.
Reprehenderit itaque reprehenderit eaque. Et autem voluptatem temporibus facilis voluptatem. Enim cupiditate voluptate cumque voluptate soluta alias necessitatibus. Mollitia velit voluptatibus beatae architecto fugiat error consequatur.
Sed quia aspernatur et et tenetur. Soluta facilis eos quia quis vero ea.
Ipsa et et cumque sit esse cum. Assumenda labore nihil et. Quaerat id sed aliquam rem enim velit rerum. Aspernatur autem veritatis qui ipsum nesciunt ratione. Quo cupiditate ut est rem occaecati hic aut. Voluptates fugit maiores iure asperiores qui cumque sit. Id adipisci consectetur minus id. Et dolores inventore in praesentium ut doloribus.