How much you can earn in your first year at Goldman Sachs, JPMorgan and other big investment banks

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Banking is renowned for its high levels of compensation. In return for long hours and often punishing work, bankers tend to be very generously remunerated.

That’s particularly true in investment banking – generally seen as the pinnacle of the industry, especially for graduates trying to get into the industry.

According to a report from recruitment firm Dartmouth Partners out this week, the average first year analyst working for a major bank earns around $A132,000.

That’s a lot more than graduate salaries in most industries, which tend to hover between the $A36,000 – $A55,000 mark.

Obviously salaries differ between banks, but where are junior staff paid the best?

Dartmouth Partners analysed the salaries and bonuses of first year analysts (generally recent graduates) working at nine of the biggest investment banks in London, with banks from the UK, USA, Switzerland and Germany included.

Base salaries at all nine were the same – $A91,000 – while American banks generally offered higher bonuses to their most junior staff.

Check out the best paying banks below.

Note: Dartmouth Partners’ data for Citi, Barclays, UBS, Credit Suisse and Deutsche Bank includes six month bonuses paid for analysts starting last summer, while all other banks include a full year bonus paid in summer 2017.

All amounts are in Australian dollars.


9. Barclays

Base salary: $91,000

Average bonus: $20,000

Total compensation: $110,000


T=7. Citigroup

Matthew Michaels/Business Insider

Base salary: $91,000

Average bonus: $27,000

Total compensation: $119,000


T=7. UBS

Base salary: $91,000

Average bonus: $27,000

Total compensation: $119,000


6. Deutsche Bank

Base salary: $91,000

Average bonus: $27,000

Total compensation: $121,000


5. Credit Suisse

Base salary: $91,000

Average bonus: $34,000

Total compensation: $126,000


4. JPMorgan

Chip Somodevilla / Getty Images

Base salary: $91,000

Average bonus: $47,000

Total compensation: $139,000


3. Goldman Sachs

Base salary: $91,000

Average bonus: $58,000

Total compensation: $143,000


2. Morgan Stanley

Spencer Platt/Getty Images

Base salary: $91,000

Average bonus: $58,000

Total compensation: $150,000


1. Bank of America Merrill Lynch

Base salary: $91,000

Average bonus: $75,000

Total compensation: $166,000

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