Investment banking grad salaries in 2021 have increased to an average of £60K at most bulge bracket banks, up from £50K 😮.
Goldman Sachs leads the way, paying £65K to graduates in their first year, straight out of university.
I remember, when I was working for Goldman Sachs back in 2010, first year grad salaries were around 48K plus bonus.
Bonus for graduates can range anywhere from 50 to 100%, meaning gross salaries in 2021 for first-year bankers could rise to as much as £100K 😱.
Putting this into perspective, first year grad salaries with bonus is just about enough to get a mortgage for a one-bedroom apartment 🏠 in central London. Kinda crazy!! 🤯, considering most people in London cannot even afford a mortgage after years of working in other corporate jobs.
Life is so not fair! The one thing that average IB grad salaries teaches us is that students who are willing to put an effort 😅 during their university years to break into banking will enjoy the fruits of their labour - financially speaking 🤑 for the rest of their lives.
If a grad survives three years as an analyst to become an associate, annual average salaries can increase to £110K 😊.
Morgan Stanley’s base salary for Associates is the highest among all banks at £115K.
If grads can stick around for five to seven years to become VP’s, their base salaries increase to as much as £150k to 165K 🤯.
Attractive banking salaries are most definitely a bonus but in my fifteen years of experience in banking, having worked for leading banks such as Goldman Sachs and Barclays - the one thing I enjoyed most was the quality of work 😍 and the people I learnt from 💡.
If you want join us for a free financial modelling course (worth £1,000) to break into banking from an Ex-Goldman Sachs banker then send across your CV to info@cityinvestmenttraining.com in the comments below.