- Goldman Sachs is raising base comp for some junior investment bankers, Insider has learned.
- Second-year analysts will make $125,000 in base comp.
- First-year associates will make $150,000 in base comp.
Goldman Sachs is raising base comp for some junior investment bankers, Insider confirmed on Sunday night.
Second-year analysts will now make $125,000 in base comp before bonus, two people familiar with the situation told Insider. First-year associates will now make $150,000, the two people said.
Junior bankers are said to have learned about the raises on Sunday by viewing new information posted within the firm’s internal human resources portal, according to the two sources. Both individuals requested not to be identified discussing private information.
Insider verified the information by reviewing screenshots from within the portal. No formal announcement or memorandum has yet been sent to employees, said one of the sources.
A spokesperson for Goldman Sachs declined to comment.
It is unclear what other levels within the investment bank have also been given salary bumps.
The investment-banking community has been watching Goldman Sachs closely to follow when a move on salary might come, as rivals like Morgan Stanley, JPMorgan Chase, and Citigroup have already shifted base comp for junior bankers upward throughout the spring.
This story is breaking and will be updated.