Analysts at Goldman Sachs usually earn total yearly pay from about $120,000 to $200,000 in the U.S., depending on office and level.
Quick Glance At Goldman Sachs Analyst Pay
When people ask about Goldman Sachs analyst pay, they want a clear sense of the pay bands before they grind through interviews at each stage.
Pay at the firm mixes a fixed base salary with a performance bonus, and both parts grow as you move from first year analyst toward associate and beyond.
Public salary data from sites that collect staff reports and industry guides, such as
Levels.fyi compensation reports,
lines up around the ranges in the table below, focused on U.S. investment banking and related analyst roles in major hubs like New York and San Francisco.
| Analyst Level | Typical Total Pay Range (USD) | What This Usually Includes |
|---|---|---|
| Intern (Summer) | $8,000 – $10,000 per month | Pro rated monthly pay, housing help in some cities, no bonus |
| Analyst 1 | $120,000 – $170,000 per year | Base around $100,000 – $120,000 plus bonus that can reach 50% of base in strong years |
| Analyst 2 | $140,000 – $190,000 per year | Higher base than Analyst 1 plus bonus that often lands near or above base |
| Analyst 3 | $160,000 – $210,000 per year | Peak analyst pay band before promotion, bonus can be a large share of total package |
| Associate 1 | $225,000 – $325,000 per year | Base often in the mid $200,000s plus performance based bonus |
| Vice President | $300,000 – $500,000+ per year | High base plus big performance bonus tied to deals and group results |
| Senior Leadership | $600,000 – $1,000,000+ per year | Mix of salary, bonus, and stock based awards |
These ranges draw on public compensation datasets such as crowd sourced salary platforms and industry pay surveys, which line up with reports of median analyst packages around the low six figures at Goldman Sachs in the United States.
How Much Do Analysts At Goldman Sachs Make? By Role And Office
The phrase how much do analysts at Goldman Sachs make usually refers to front office investment banking roles, yet the firm hires analysts into many business lines.
Pay can differ a lot between investment banking, markets, asset management, corporate strategy, and technology groups.
Investment Banking Analysts
Investment banking analysts sit in coverage or product teams that handle mergers, acquisitions, and capital raises.
For large U.S. cities, public reports show base salaries around $110,000 for new analysts, with total compensation after bonus between $140,000 and $190,000 in an average year.
In a strong deal year, high performers can land closer to the top of that band or above it, while in a weak year bonuses shrink.
Global Markets And Trading Analysts
Markets analysts work with sales and trading desks across equities, fixed income, currencies, and commodities.
Base pay for new analysts here usually matches investment banking or sits slightly lower, yet bonus outcomes can vary by desk performance and risk profile.
Desks that bring in strong revenue share can pay total compensation close to or even above banking peers, while more stable desks may sit closer to base with modest bonus swings.
Asset Management And Wealth Management Analysts
Analysts in asset management and wealth management tend to see pay bands a bit lower than pure investment banking, with more emphasis on long term incentives and client asset growth.
Typical total yearly pay for junior analysts often falls between $100,000 and $150,000, with strong performers clearing that range over time.
Corporate, Risk, And Technology Analysts
Goldman Sachs also employs analysts in risk, finance, human capital, operations, engineering, and data roles.
These analysts often earn slightly lower cash packages than front office bankers, yet compensation still lines up well with other large employers for similar skill sets.
Goldman engineering analysts may see total pay that matches or exceeds averages for general financial analysts in national labor data published by the
U.S. Bureau of Labor Statistics financial analyst data.
Goldman Sachs Analyst Salary Ranges By Level
At a high level, Goldman Sachs follows the same ladder as most large investment banks.
You spend two or three years as an analyst, move into an associate role, and progress from there to vice president and higher titles if performance and hiring needs line up.
Base Salary Versus Bonus
Base salary sets the floor for each analyst level.
Industry sources such as investment banking pay guides describe analyst base salaries around $110,000 in New York after recent pay bumps, with higher base numbers for associates.
Bonus then adds on top and depends on group results and individual reviews.
For analysts at Goldman Sachs, bonus can range from a small fraction of base in weak cycles up to base or more when business conditions are strong.
Progression From Analyst 1 To Analyst 3
Analyst 1 usually covers the first full year after graduation.
Many analysts join straight from undergraduate programs or master in finance tracks, so this stage carries a steep learning curve and long hours.
Analyst 2 sees a bump in both base and bonus as you start to run models and client work more independently.
Analyst 3 often lines up with mentoring duties and deeper client exposure, and total compensation at that point can push past $200,000 in strong markets.
Promotion To Associate And Beyond
After two or three analyst years, top performers receive an offer to stay on as associates.
Others may move to private equity, hedge funds, corporate development, or roles outside finance.
Associates who remain at Goldman Sachs and keep strong reviews step into vice president roles after three or four years.
Regional Differences In Goldman Sachs Analyst Pay
A Goldman Sachs analyst salary in New York does not match the same title in a lower cost city or another country.
Pay reflects local hiring markets, cost of living, and revenue potential from that office.
| Location | Typical Analyst Total Pay Range | Notes |
|---|---|---|
| New York | $140,000 – $190,000 | High pay bands, long hours, highest cost of living |
| San Francisco | $140,000 – $190,000 | Similar to New York with more tech focused work |
| Dallas And Salt Lake City | $110,000 – $150,000 | Lower pay than New York but daily costs drop as well |
| London | £80,000 – £130,000 | Pay framed in sterling, bonus still a big share of total |
| Frankfurt, Paris, Other EU Hubs | €80,000 – €130,000 | Ranges vary by team and local labor rules |
| Hong Kong | HK$900,000 – HK$1,400,000 | High headline pay plus housing costs and tax profile |
| Singapore | S$150,000 – S$220,000 | Strong regional hub, pay often rivals other global banks |
These numbers sit near the center of self reported ranges from salary platforms.
Actual offers can fall outside each band, especially for teams that see scarce skill sets or heavy deal volume.
What Drives Pay For Goldman Sachs Analysts
Analyst pay at Goldman Sachs does not come from title alone.
Several factors shape where you land inside each band and how fast your pay grows over time.
Group Performance And Deal Flow
Bonus pools rise and fall with revenue.
Years with strong deal flow in mergers and public offerings often bring larger bonus awards for analysts, associates, and vice presidents.
Slow years with few deals or tough trading conditions mean thinner bonus pools, even if you work just as hard.
Individual Ratings And Feedback
Each year managers rate analyst performance on work quality, reliability, teamwork, and client impact.
Those ratings feed directly into bonus decisions and promotion discussions.
Analysts who build trust, handle complex work, and step up under pressure tend to sit near the top of the range, while those still learning the basics sit closer to the floor.
Macro Conditions And Hiring Markets
Broader markets also matter.
Low interest rates, strong equity issuance, and active deal markets often line up with higher pay, while stressed markets often bring headcount freezes, smaller classes, and muted raises.
At the same time, when other banks and buy side firms raise pay or compete hard for talent, Goldman Sachs adjusts its bands to match, which is why entry analyst base salaries have climbed across the industry in recent years.
How Goldman Sachs Analyst Pay Compares To Typical Analyst Roles
Not every analyst works on Wall Street.
Many companies hire analysts into corporate finance, planning, research, or risk roles, and pay for those jobs sits in a different range.
Government labor data shows median annual wages for financial and investment analysts around $100,000 in the United States, across many industries.
Goldman Sachs analyst pay bands described earlier usually sit above that figure, especially when you add bonus and stock based awards.
That gap reflects tradeoffs.
Goldman analysts often face longer hours, higher stress, and more travel, while analysts in corporate roles may trade some cash for steadier schedules.
Is A Goldman Sachs Analyst Salary Worth It?
By this point you have a clear answer to the question how much do analysts at Goldman Sachs make.
Entry level analysts in major hubs often land total yearly pay in the $140,000 to $190,000 range, rising from there with experience and promotion.
The role can launch a career in finance, open doors to private equity or hedge funds, and build skills that carry into corporate leadership roles.
On the flip side, you give up many evenings and weekends during the analyst years, and burnout risk is real.
If you enjoy deals, do well under time pressure, and value early career earnings, the analyst path at Goldman Sachs can be a strong fit.
If you rank work life balance higher than pay, you might prefer a finance role with a lower ceiling on compensation but a more predictable week.