Getting an engineering job at Goldman Sachs isn’t easy, but the pay can be worth the pains it takes to get there. Using data from Levels.fyi, we’ve looked at how much money analysts, associates and vice presidents (VPs) have been paid on average so far in 2024, and where the highest earning locations to work for Goldman Sachs are.
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How much are engineering analysts, associates and VPs paid at Goldman Sachs?
Like most roles across the bank, pay is largely team dependent. An engineering role in a critical exciting project like its transaction bank TxB or AI research will likely pay more than someone doing maintenance or decommissioning legacy applications. Nonetheless, averages can be a good indicator for how much money you stand to gain with each promotion:
In the time it takes the average Goldman Sachs analyst to make associate, their pay will rise 26.8%, from $125.8k to $159.5k. The road from associate to VP meanwhile will entail a pay increase of even more, 28.8% giving the average Goldman engineer a total compensation of $205.4k by the time they make VP.
Data for MDs is harder to come by, but one New York based engineering MD on Levels was paid $500k in 2023. They were a Goldman lifer of 16 years working in full stack engineering, and their package consisted of a $400k salary, $83k bonus, and the rest in stock. The salary lines up with the bank’s modal average on the H1B visa salary database; most MDs seem to be on $400k.
Where does Goldman Sachs pay its engineers the most?
Location can be just as important as seniority when getting the best pay package at Goldman Sachs. New York in particular is often seen as the pinnacle, but how does its average pay compare to other major Goldman Sachs locations over the past year?
Expectedly, Goldman Sachs engineers in New York are paid the most, $188.9k on average. Slightly less expectedly, the bank’s Hong Kong contingent is close behind, paying $184.1k on average and well above Singapore’s $100.5k average despite similar sample sizes. The London and Dallas offices meanwhile pay quite similar amounts.
Two of Goldman’s most important offices for tech don’t pay nearly as well. More than 750 engineers and IT professionals are employed in the bank’s Bengaluru office in India, and levels suggests the average pay there is just $46.6k. Meanwhile, Goldman recently moved global head of investment banking tech Gurjit Jagpal from London to Birmingham as part of its big tech expansion there; average pay in the city is 54.7% lower than the capital.
Times are tough in the tech hiring space, but Goldman’s engineer recruitment plans may be picking up. It has 399 open roles globally in its various engineering departments.
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