Salaries at Goldman Sachs in Singapore: How much you’ll really earn

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Salaries at Goldman Sachs in Singapore: How much you’ll really earn

It’s been a comparatively good year at Goldman Sachs’ investment bank in Singapore so far. The US firm took second spot in Dealogic’s Q1 Singapore/Malaysia IB revenue league table – that’s up 21 places year on year.

But if you want to get a job at Goldman Sachs in Singapore, you’ll be interested in its investment banking salaries as well as its deal-making abilities. To give you an idea of how much you’re likely to earn at Goldman in Singapore as an investment banker, we examined Glassdoor pay data across the three main junior to mid-level ranks: analyst, associate and vice president (the website has insufficient data beyond that).

We only looked at high-range salaries, because they reflect the earnings of front-office investment bankers. The results (which are approximate rather than definitive) are displayed in the table below. Goldman did not respond to a request to comment on its Singapore salaries.

What will your salary and bonus be at Goldman Sachs in Singapore?

Front-office IB analysts at Goldman in Singapore earn salaries of about S$115k on average, although that figure would vary according to whether they are first, second or third-year analysts.

A promotion to associate at Goldman’s investment bank in Singapore could potentially land you a pay rise of about 45% – your annual base pay will be about S$167k. The data suggests that junior front-office cash bonuses are relatively low (S$20k on average for analysts), although top-performing young Goldmanites should expect to earn more than this.

The big money kicks in at vice president level. Average salaries for VPs at Goldman in Singapore are about S$250k. When topped off with a S$100k cash bonus, you could potentially take home S$350k in total annual compensation as a front-office Goldman Sachs VP.

If you get a Goldman Sachs job in Singapore, however, be aware that the bank is cutting comp globally. Goldman’s first quarter results suggest that pay per head within its 35,900-strong workforce was down nearly 24% year on year.

Some of this decline can be pinned on Goldman’s hiring of more (comparatively cheap) technologists for its low-cost Indian tech hub in Bengalore. But it’s also likely that declines in front-office bonuses would have contributed to the overall fall. Goldman's year-on-year global Q1 revenues fell significantly in percentage terms across equity capital markets (ECM), debt capital markets (DCM), equities sales and trading, and fixed income currencies and commodities (FICC) sales and trading. 

Investment banking salaries and bonuses at Goldman Sachs in Singapore

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