If you’re thinking of working for Goldman Sachs’ London operation (known as ‘Goldman Sachs International’), you might want to be in the ‘support functions’ area. Failing that, you could try sales and trading (known as ‘Institutional Client Services’). Failing that, you could try investment banking. Hardly anyone works in Goldman’s private equity/debt business (‘Investing and Lending’) in the City.
This is the message from the chart below, taken from the now-available results for Goldman Sachs International in 2014. Goldman added 120 people in London last year. Unusually, they weren’t all in the support functions area – possibly because Goldman keeps most of its support staff in Mumbai and Salt Lake City.
Who works where at Goldman Sachs in London:
Source: Goldman Sachs International
On a per-head basis, Goldman paid its London staff an average of $530k last year (£363k), up 3% on 2013. Investment bankers, salespeople and traders almost certainly earned more. Support staff almost certainly earned less. As ever, the average person working for Goldman Sachs in London was a lot better paid than the average Goldmanite globally: pay per head across the firm totaled ‘just’ $379k in 2014. If you work for Goldman Sachs, London is the place to be.
How pay is allocated at Goldman Sachs in London: