Not everyone starts a career at Goldman Sachs in Singapore because of its reputation for paying good salaries and bonuses – there’s the kudos of having the GS logo on your business card to impress clients, friends and family. And there’s the small matter of Goldman’s global deal-making prowess.
Revenues at Goldman in Asia were $1.5bn in Q2 – that’s a 38% increase from a year ago, and is a 6% quarter-on-quarter rise. Goldman’s earnings report did not elaborate on the drivers of its Asian performance. Globally, the firm had a stellar quarter: revenues soared 149% year-on-year in fixed income trading, and 46% in equities trading. In ECM, the jump was 122%.
But the bank’s regional earnings are not the only numbers you need to know before you apply for a front-office job at GS – it’s also good to have a rough idea of how much your Goldman Sachs salary and bonus might be as an investment banker in Singapore.
To give you an approximation of Goldman Sachs’ Singapore salaries in IB, we reviewed self-reported Glassdoor pay numbers for the US firm across the three seniority levels that the website has sufficient data for: analyst, associate, vice president, and executive director.
IB pay at Goldman Sachs in Singapore obviously varies from banker to banker and according to individual performance, so the figures in the table below should just be seen as approximate and general guidance. Moreover, we only reviewed Glassdoor’s high-range annual salaries for Goldman Sachs, because they better reflect the earnings of front-office investment bankers, who are typically paid more than their peers in other functions. The figures do not apply to non-IB staff.
Goldman Sachs did not reply to a request to comment on its Singapore compensation.
What will your Goldman Sachs salary be in Singapore?
The approximate Glassdoor numbers suggest that analyst-level investment bankers at Goldman Sachs in Singapore can expect to earn annual salaries of around S$115k a year, although this would vary depending on whether they are first, second, or third-year analysts.
Front-office base pay for Goldman’s Singapore associates is about S$167k a year, while vice presidents (VPs) take home roughly S$250k, according to the Glassdoor numbers, which are self-reported by GS employees.
By the time you reach executive director rank at Goldman Sachs in Singapore, your salary could be in the region of S$292k.
Simon Mortlock – Read more on efinancialcareers.com