offer from GS in London
Hi all, I just received an offer as a 1st year associate quant in a trading desk in GS london. I am considering the offer as I liked the work they do there a lot. The base salary is similar compared to NYC but with a higher tax rate.
Can anyone please compare the opportunities between NYC and London? How difficult would it be for me to move back to the US, say if after a couple of years I felt the job there is not the one I wanted?
Thanks in advance.
This is cheap, second hand info, but I’ll pass it on. My boss spent 10 yrs at GS. She said GS is pretty flexible about moving people around if they like you.
What type of program are you coming out of? MFE? PhD?
Nice offer,
If you dont mind me asking, what kind of compensation scheme does an associate get for quant trading? How much is your base and what percentage of profits do you keep
i've tried to find this info but it seems the compensation of trading in higher levels is obscure.
The base is very similar to NYC (pound amount*FX) and the bonus is performance dependent. I do not know if many quant/quant traders keep a certain % of profits.
What is the info of the numbers you gathered for the analyst level?
See PM
Are the effective tax rates really that different?
In the good times companies are very willing to move people around if they get a request and you are decent, since they don't want to loose people. Usually you would have to have worked in your first position approx 2 years. These days though not much movement except at senior level.
NY & London will be pretty similar jobwise I think so the main factor would probably be in terms of where you actually want to live and spend your free time.
in the UK the pay from a BB IB will be in the 40% tax basket with an addition of about 11% national insurance. How about the US? fed income (28%?)+state income (6-7%?)+SS(6% for up to 106k>)+medicare is about less than 35% overall I'd say?
How could you say it is less than 35% newtoall when the numbers you yourself posted add up to about 40% for the first 106k. Plus, many bankers are in higher federal tax brackets than that even at the associate level.
cheese, the reason I put 35% is because: 1. SS and medicare are capped at abt 100k, so overall they contribute around 3-4% as tax. 2. The top basket (28% in my earlier post) is for the income exceeding the 25% tax basket. So overall it is less than that. 3. I talked to some friends in a BB at both the VP/Assoc. level and they all confirmed this somehow.
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