How a lot do you earn as a vice chairman at Goldman Sachs? According to final 12 months’s salary and bonus survey from recruitment agency Arkesden Partners, the going charge for VPs in London was between £248k and £315k ($338k to $429k) in complete compensation in 2021. Following yesterday’s bonus announcements, that charge has risen significantly.
“There are now newly promoted VPs at Goldman now incomes £420k,” says one senior London headhunter, talking on situation of anonymity. “They’ve been paid extremely nicely this 12 months after the retention and hiring issues of 2021.”
Analysts and associates at Goldman Sachs are paid bonuses in the summertime, which means that VPs are probably the most junior workers to have been paid yesterday.
The London headhunter says some third 12 months VPs at Goldman are now incomes seven figures in greenback phrases. This echoes a declare on the Litquidity Instagram account, which mentioned yesterday that first 12 months VPs at Goldman are now on round $750k, that second 12 months VPs are on $800-$900k, and that third years are on $900k -$1m+.
VPs usually have between 5 and 9 years’ expertise. Some will be as younger as 26 years outdated.
Goldman Sachs did not reply to a request to touch upon the alleged numbers.
The headhunter noticed that pay at these ranges hasn’t been seen in banking for many years. “Funnily sufficient, we’re again to the place we have been 20 years in the past,” she mentioned.
Goldman’s generosity comes after each Citi and JPMorgan applied the second pay rise in a 12 months for his or her junior bankers, bringing first 12 months analyst salaries to $110k – which was inline with the quantity awarded by Goldman in August 2021.
Download our full salary and bonus survey here.
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https://www.efinancialcareers.com/information/2022/01/goldman-sachs-vp-pay
