Goldman adds 509 to its ranks of managing directors (2024)

FAQs

Did Goldman Sachs just promoted 608 to MD? ›

Goldman Sachs has promoted 608 people to the coveted rank of managing director, down slightly compared with two years ago when it named its biggest-ever class. Managing director is one notch below the Goldman Sachs partner rank, and sets many of the Wall Street giant's employees on course to seven-figure salaries.

At most banks, managing director is the top job below C-suite. But at Goldman, it's one level below partner.

Average Goldman Sachs Managing Director yearly pay in London, England is approximately £216,340, which is 138% above the national average. Salary information comes from 22 data points collected directly from employees, users, and past and present job advertisem*nts on Indeed in the past 36 months.

How much does a Goldman Sachs Managing Director make? As of Apr 13, 2024, the average annual pay for a Goldman Sachs Managing Director in the United States is $104,452 a year. Just in case you need a simple salary calculator, that works out to be approximately $50.22 an hour.

$244K (Median Total Pay)

The estimated total pay range for a Vice President at Goldman Sachs is $202K–$298K per year, which includes base salary and additional pay.

The Bottom Line

"It Takes Over 12 Years to Become an Investment Bank Managing Director." Mergers and Inquisitions. "Investment Banking Hours: Will You Really Work 105 Hours per Week at Goldman Sachs?" Goldman Sachs.

$721K (Median Total Pay)

The average Managing Director base salary at Goldman Sachs is $366K per year. The average additional pay is $355K per year, which could include cash bonus, stock, commission, profit sharing or tips.

The MD layoffs come ahead of a new round of managing director promotions at Goldman in November 2023. Given that each Goldman MD earns a salary alone of $400k, 125 cuts represents fixed cost savings of circa $50m. Goldman is thought to have 2,000 MDs in total; the cull represents just 6% of the MD class.

+1. In Morgan Stanley, the title/promotion hierarchy is associate -> vice president -> executive director -> managing director. You can get VP within 5 years or so.

The highest paying jobs at Goldman Sachs are managing director, vice president research, finance vice president, and associate.

How long does it take to become a VP at Goldman Sachs? ›

Instead, you start as an Analyst or Associate and get promoted by performing well and proving that you can work well with clients. If you start as an Analyst, it might take 2-3 years to become an Associate, and it might then take another 3-4 years to become a VP.

The average Managing Director base salary at J.P. Morgan is $298K per year. The average additional pay is $201K per year, which could include cash bonus, stock, commission, profit sharing or tips.

The H1B visa database, which accurately details the salaries Goldman Sachs pays staff recruited on H1B visas in the U.S. shows that managing directors in New York City are typically on $400k-$500k.

The salaries of Managing Directors in The US range from $46,470 to $960,480, and the average is $198,408.

Today, we are pleased to announce that 608 individuals across 44 offices have been invited to become managing directors as of January 1, 2024. The Managing Director Class of 2023 comprises an exceptional group of individuals from across the firm who have made meaningful contributions to the firm and our business.

The average Managing Director base salary at Goldman Sachs is $366K per year. The average additional pay is $355K per year, which could include cash bonus, stock, commission, profit sharing or tips.

Goldman Sachs does not give a specific minimum GPA requirement, though some sources suggest a GPA of at least 3.6 is preferred. Additionally, you may need to show relevant coursework and hard skills for certain programs.