Discover your dream Career
For Recruiters

Goldman Sachs cut London analyst bonuses 60% in two years

The dust has settled on last summer's analyst pay round, and recruitment firm Dartmouth Partners has scraped the embers and produced its annual analyst compensation report. 

If you work as a junior banker at Goldman Sachs in London, it seems there was both good and bad news from the most recent pay round. 

The good news is that Goldman Sachs' first year analysts (typically recent university graduates aged circa 21 or 22 years old) are apparently earning more than anyone else at the same stage. Their combined salary and bonus averages £106k, according to the recruitment firm.

Get Morning Coffee in your inbox. Sign up here. 

The equally good news is that Goldman barely cut first year analyst pay year-on-year. In 2022, Dartmouth said Goldman's first year analysts were on £107.5k. Effectively, pay was held stable.

The glory days are, however, past. In 2021, Dartmouth said Goldman paid its first year analysts £130k, comprising a £65k bonus and a £65k salary. That feat will clearly not be repeated soon. 

Needless to say, it's bonuses that are flexing down. This year, Dartmouth put first year analyst bonuses at Goldman Sachs at an average of £41k: a ∼60% decline in two years.

Goldman's £41k bonuses were, however, far higher than the average London first year analyst bonus at all banks this year. Dartmouth put this at 'just' £29k. 

Click here to create a profile on eFinancialCareers. Make yourself visible to recruiters hiring for top jobs in technology and finance.

Have a confidential story, tip, or comment you’d like to share? Contact: +44 7537 182250 (SMS, Whatsapp or voicemail). Telegram: @SarahButcher. Click here to fill in our anonymous form, or email editortips@efinancialcareers.com. Signal also available.

Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)

author-card-avatar
AUTHORSarah Butcher Global Editor

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.

Boost your career

Find thousands of job opportunities by signing up to eFinancialCareers today.
Recommended Articles
Recommended Jobs
Metis Search
Analyst - Private Equity Placement
Metis Search
London, United Kingdom
Elevate Partners
Investment Associate - Cimate Fund
Elevate Partners
London, United Kingdom
Charterhouse
Investment Director
Charterhouse
Dubai, United Arab Emirates
PER, Private Equity Recruitment
Director, M&A and Advisory, International Private Equity, Abu Dhabi, UAE
PER, Private Equity Recruitment
Abu Dhabi, United Arab Emirates

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.