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Goldman Sachs Analyst & Associate Salary
Complete compensation breakdown for investment banking professionals at Goldman Sachs, including base salary, bonuses, and total compensation at every level.
$110,000
$215,000 - $255,000
$345,000 - $395,000
Analyst Compensation
| Level | Base Salary | Year-End Bonus | Total Comp |
|---|---|---|---|
| Analyst 1 | $110,000 | $80,000 - $110,000 | $215,000 - $255,000 |
| Analyst 2 | $125,000 | $100,000 - $135,000 | $225,000 - $260,000 |
| Analyst 3 | $135,000 | $110,000 - $150,000 | $245,000 - $285,000 |
* Stub bonus of $15,000 - $25,000 may apply for analysts starting mid-year.
Associate Compensation
| Level | Base Salary | Year-End Bonus | Total Comp |
|---|---|---|---|
| Associate 1 | $175,000 | $120,000 - $170,000 | $345,000 - $395,000 |
| Associate 2 | $200,000 | $150,000 - $220,000 | $350,000 - $420,000 |
How GS Compares
Goldman consistently matches or exceeds Morgan Stanley and JPMorgan at the top of the bulge bracket. Bonuses typically run 10-15% higher than Bank of America and Citi, and 20-30% above Barclays and Deutsche Bank for comparable performance.
Benefits & Perks
Meals & Transportation
Dinner stipend after 7pm, free car service after 9pm
GS Compensation Overview
Goldman Sachs maintains its position as the street's compensation leader, with bonuses heavily tied to deal flow and individual performance. The firm's meritocratic culture means top performers in strong groups can significantly exceed the bonus ranges listed. GS introduced stub bonuses for first-year analysts to bridge the gap between signing and year-end compensation. The compensation philosophy emphasizes pay-for-performance, with material differences between analysts based on reviews. Coverage and product groups typically see higher bonuses than support functions. Weekend work and late nights are compensated through overtime pay, though the real differentiator remains the year-end bonus pool.
Frequently Asked Questions
What is the total compensation for a first-year analyst at Goldman Sachs?
First-year analysts at Goldman Sachs earn a base salary of $110,000 with a year-end bonus of $80,000 - $110,000, bringing total compensation to approximately $215,000 - $255,000.
How do GS bonuses compare to other Bulge Bracket banks?
Goldman consistently matches or exceeds Morgan Stanley and JPMorgan at the top of the bulge bracket. Bonuses typically run 10-15% higher than Bank of America and Citi, and 20-30% above Barclays and Deutsche Bank for comparable performance.
Does Goldman Sachs pay overtime?
Yes, Goldman Sachs does pay overtime to eligible analysts, which can meaningfully increase total compensation.