How much do summer analysts at Goldman Sachs make? (2024)

FAQs

How much do summer analysts at Goldman Sachs make? ›

Average Goldman Sachs Summer Analyst yearly pay in the United States is approximately $68,449, which is 9% below the national average.

The estimated take home salary of a Summer Intern at Goldman Sachs ranges between ₹ 90,909 per month to ₹ 93,300 per month in India.

The estimated total pay for a Intern at Goldman Sachs is $93,136 per year.

Average Goldman Sachs Analyst yearly pay in India is approximately ₹ 7,07,810, which is 57% above the national average.

At Goldman Sachs, Summer Analyst Intern program is designed to fully immerse you in the day-to-day activities of one of their divisions where you can learn and build career-enhancing skills.

Analysts start in the summer after completing undergrad, joining full-time in the middle of the year. Traditionally investment banking analysts get their first-year bonus a full 12 months after arriving and don't switch to calendar year bonuses until they are promoted to associate (“a to a”).

Nearly 3,000 Goldman Sachs summer analysts and associates were just as optimistic! Each year, the leading global financial services firm surveys its summer intern class to learn more about their experiences and predictions for the future.

The competition will be steep: About 236,000 people around the world applied for a Goldman Sachs internship in 2022, but just 1.5% made the cut — which equals to about 3,540 people. Goldman Sachs just opened applications for its coveted summer investment banking analyst program.

Also, note that the representation of interns peaks at 101-110. Compare this with Goldman Sachs' rules for summer interns: out by midnight, in no later than 7am, putting the work week at 85 hours if interns take the weekend off (which Goldman Sachs encourages, but does not require).

CNBC reported yesterday that 236,000 people applied for internships globally at Goldman Sachs this year, and that the bank had an acceptance rate of 1.5% - meaning that it's hiring 3,540 interns in total this year. This is a significant increase on the 2,900 interns Goldman hired in 2021.

What is the lowest salary at Goldman Sachs? ›

The average Goldman Sachs salary ranges from approximately $40,000 per year for Technical Support to $192,700 per year for Vice President of Human Resources. Average Goldman Sachs hourly pay ranges from approximately $9.95 per hour for Office Assistant to $82.46 per hour for Site Reliability Engineer.

However, those raises didn't make up for the disappointing bonuses, insiders said. Last year, the average analyst bonus was $95,000, while those at the vice president level got an average bonus of more than $500,000. The bonus bummer comes just a week after Goldman cut 3,200 employees from its ranks.

Goldman has also given analysts' two year fixed term contracts in an attempt to stop them leaving for private equity firms. - All suggesting that retention is an issue. None of these initiatives seem to have dissuaded Shapira, Sukno, Likhanskyi or Benoit from leaving Goldman.

At Goldman Sachs, summer interns are typically paid about $15,000 for 10 weeks of work, which includes a stipend of $2000 for housing for interns.

In general, there aren't major differences between the responsibilities and expectations between Summer Analysts and Summer Associates. If you've been a Summer Analyst, then likely you'll find the experience as a Summer Associate to be quite similar. One main difference is that you get paid more.

Just keep your resume HONEST. Goldman Sachs interviews are famous for asking puzzles. Just a day before your interview, read up on all the puzzles given here, and I feel that's more than enough. Revising on basic probability and math can also be helpful if you have the time.

Ideally, you will request a meeting with the hiring manager to discuss the salary face to face. Practice your arguments before the meeting so you can speak with confidence. Present your research data and calmly explain why you think you deserve a specific salary, and be ready to compromise when necessary.

What is the bonus structure for first year analysts at Goldman Sachs? At Goldman Sachs, first year analysts typically receive an annual base salary of $85,000, with an additional signing bonus of $15,000.

Salary for the summer months is determined by dividing the annual base salary by 9 months, a summer month salary is referred to as 1/9th, two months as 2/9ths, and three months as 3/9ths.

What is the average employee age at Goldman Sachs? ›

The average age at Goldman Sachs is 28: youthful promotions are an inevitability. Meanwhile, Goldman's giant MD class, which is skewed towards trading, has a message of its own: that Goldman has promoted so many people suggests it's working hard to retain them after a difficult year.

What is the highest salary at Goldman Sachs? The highest paying role reported at Goldman Sachs is Software Engineering Manager at the Managing Director level with a yearly total compensation of $755,833. This includes base salary as well as any potential stock compensation and bonuses.

Bagging a job at Goldman Sachs (GS)' is a phenomenon rarer than receiving an acceptance letter from Harvard University. During a presentation in Miami Tuesday, the investing giant reported that roughly 3% of its applicants, or 9,700 out of 313,000, secured a position in 2015.

Goldman Sachs CEO worries recession more likely than his own economists Landing a job at Goldman Sachs is a golden ticket. It's harder to get hired by Goldman than to get into Harvard. CEO David Solomon says 3,500 workers start this week.

Usually won't interview below 3.6, and generally interview candidates with 3.6/3.7+. CS, LB, JPM, UBS, etc: 3.4 minimum, generally interview candidates with 3.5+. Wachovia, BofA: 3.3 minimum, generally interview candidates with 3.4+.

Each summer when I worked at Goldman Sachs, I observed around 40 summer Analysts and Associates struggle to convert their internships into a full-time career with GS. I took notes on what they did right – and what they did wrong. The conversion rate was never more than 70%, and could sometimes be as low as 40%.

The average pay for an internship is $15 to $23 an hour. Not all Internships are paid. However, many unpaid internships do provide some level of compensation, be it course credit or covering the cost of living expenses.

A medical intern, for example, is a physician in the first year of a specialty training program and is typically expected to work more than 40 hours per week. For undergraduate students still in school, unpaid internship hours per week are usually limited to 10 to 20.

Superday

If selected following your HireVue interview, you'll be invited to a day of in-person interviews at a Goldman Sachs location. Typically, we conduct between two and five interviews for campus hires, depending on the division. You can expect to meet a cross-section of people whom you could possibly work with.

You can usually expect between two to five interviews over the course of the day, depending on the division you have applied to. Each interview is likely to be with two Goldman Sachs executives.

Is it good to Intern at Goldman Sachs? ›

Securing an internship in Goldman Sachs is one of the best paths to receive a full-time offer in this firm as well as other Bulge Bracket investment banks. Every year, top students, as early as sophom*ore year, from all schools compete for an internship in Goldman Sachs.

Salaries. Of the top 3 common jobs between the two companies, Goldman Sachs salaries averaged $1,333 higher than J.P. Morgan.

Goldman Sachs is one of the oldest and most prestigious investment banks on Wall Street. With hundreds or thousands of applicants for every job opening, getting into this company is notoriously hard.

$77,144. The estimated total pay for a New Analyst at Goldman Sachs is $77,144 per year.

That made the average per employee compensation reach about $404,000 in 2021, up from $329,000 in 2020. The pay increase at Goldman largely tracked the year-over-year increase in non-interest revenues, a 33% jump to $52.9 billion, driven by a massive 55% gain in investment banking revenue.

The median yearly total compensation reported at Goldman Sachs for the Investment Banker role is $198,750.

The analysts rated their job satisfaction as two out of 10 and said they were unlikely to stay at Goldman in six months if working conditions remained the same. In addition to the long hours, the analysts cited unrealistic deadlines, being ignored in meetings and micromanagement as major sources of stress.

Average Goldman Sachs Vice President yearly pay in the United States is approximately $145,630, which meets the national average. Salary information comes from 701 data points collected directly from employees, users, and past and present job advertisem*nts on Indeed in the past 36 months.

What is the hiring rate for Goldman Sachs? ›

Among the revelations is the fact that every open job at the bank receives 300 applicants, a number suggesting that the average person applying to work at the bank has only a 0.33% chance of being successful.

According to Wall Street Oasis (WSO) 2021 University Statistics (Bulge Bracket Banks), the top five schools Goldman Sachs (GS) hires from are Harvard University, New York University (NYU), Cornell University, Columbia University, and University of Pennsylvania (UPenn).

The dress code for Goldman Sachs is business casual to business professional.

Goldman Sachs Salary FAQs

The average salary for an Intern is $38,083 per year in United States, which is 58% lower than the average Goldman Sachs salary of $92,089 per year for this job.

Both job positions can be entry-level, but the position of an associate is considered to be one position higher than the analyst. These designations are used in all major investment banks like JPMorgan, Citi, HSBC, Credit Suisse, and KPO, which help these investment banks follow a similar designation hierarchy.

Associates have somewhat better lives than Analysts, but “somewhat better” means 65-80 hours per week rather than 70-80+ hours. If you're in a capital markets group, the hours might be reduced by 10-15%.

Goldman Sachs Interviews FAQs

Glassdoor users rated their interview experience at Goldman Sachs as 65% positive with a difficulty rating score of 3.26 out of 5 (where 5 is the highest level of difficulty).

The Goldman Sachs aptitude test is difficult with numerical and verbal reasoning questions. Technical reasoning is also required for technical posts. Enough practice will help you understand the nature of these tests and strong preparation can help you crack them.

However, those raises didn't make up for the disappointing bonuses, insiders said. Last year, the average analyst bonus was $95,000, while those at the vice president level got an average bonus of more than $500,000. The bonus bummer comes just a week after Goldman cut 3,200 employees from its ranks.

The average salary for a Summer Analyst is £45,613 per year in London, United Kingdom, which is 13% lower than the average Goldman Sachs salary of £52,947 per year for this job. What is the salary trajectory of a Summer Analyst? The salary trajectory of a Summer Analyst ranges between locations and employers.

What is the salary of Goldman Sachs Investment Banking Summer Analyst in New York? ›

Goldman Sachs Salary FAQs

The average salary for an Investment Banking Summer Analyst is $104,986 per year in New York City, NY, which is 54% lower than the average Goldman Sachs salary of $228,656 per year for this job.

The summer associate role is for candidates currently working towards an advanced degree such as MBA, JD, MD, or LLM and is usually undertaken during the second or penultimate year of study.

The average Goldman Sachs salary ranges from approximately $20,846 per year for Clerk to $140,000 per year for Senior Java Developer. Average Goldman Sachs hourly pay ranges from approximately $7.39 per hour for Forklift Operator to $46.81 per hour for Software Test Engineer.

Goldman Sachs Internship Salary and Job Description

They provide assistance to bankers in projects such as pitch books and the execution of mergers and acquisition mandates. In Sales and Trading division, interns will support analyst/associate research market trends and opportunities for clients.

How much does a Summer Analyst at Citi make? The typical Citi Summer Analyst salary is $14,400 per year. Summer Analyst salaries at Citi can range from $14,400 - $120,000 per year.

How much does a Analyst at Bank of America make? The typical Bank of America Analyst salary is £60,013 per year. Analyst salaries at Bank of America can range from £30,229 - £162,216 per year.

How much does a Analyst at Goldman Sachs make? The typical Goldman Sachs Analyst salary is ₹18,00,000 per year. Analyst salaries at Goldman Sachs can range from ₹1,70,200 - ₹1,14,90,000 per year.

The estimated total pay for a Investment Banking Summer Analyst at Piper Sandler is $174,351 per year. This number represents the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. The estimated base pay is $111,790 per year.

The estimated total pay for a Summer Analyst at Morgan Stanley is $180,668 per year.

How many hours do associates work at Goldman Sachs? ›

At an average of 98 hours a week, Goldman's junior bankers are working 18 hours more than their fellow junior bankers who reported working an average of 80 hours per week, the survey found.

Goldman Sachs came out on top for the second year in a row in forum site Wall Street Oasis' industry report of bank working hours, averaging nearly 90 hours a week, the same as last year.