You might actually be better off taking less. Obviously don’t give yourself away but at the entry level, the quality of experience you get and the strength of the people you will work with are far more important than how much you get paid. You are trying to maximize the present value of your future earnings and enjoyment. This may involve taking lower pay now. Salaries are Flat to Down in 2012 but up from the Financial Crisis Bottoms. Note: This table is based upon conversations with banking insiders about yearly bonuses that were paid between December 2011 and February 2012.
K denotes thousands of US dollars. We are hearing a lot more diversity in compensation levels than usual. The old rules that implied highest comp at the most prestigious firms no longer apply. This is less true at the analyst level where firms try to harmonize compensation with “The Street”. Firms will raise starting offers, more or less, in lock step at this level.
However, the situation differs at more senior levels – even mid Associate. But the big issue today is the lack of cash in comp. If you make a lot of money, that’s a bonus, and if you don’t, you still won’t hate going to work. Goldman Sachs commits people, capital and ideas to help our clients, shareholders and the communities we serve to grow.
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