Goldman Sachs is a public international corporation that deals with investment banking and financial services. Its headquarters are located in Lower Manhattan in New York. It was founded in 1869 by Marcus Goldman and his son in law Samuel Sachs. Let us know about that the Goldman Sachs Salary Levels.
The salary levels at Goldman Sachs are differentiated by the job titles. On average, a Goldman Sachs employee is paid $90,000 a year
- Software Engineer- $78k to $144k
- Financial Analyst- $48k to 86k
- Operations Analyst- $45k to 70k
- Finance associate- $59k to $111k
- Compliance associate- $49k to $111k
- Technology analyst- $67k to $108k
- Vice President (VP) Operations- $78k to $164k
- Vice President Finance- $88k to $178k
- Vice President Engineering- $114k to $209k
About Goldman Sachs
Goldman Sachs has its main headquarters in New York with regional headquarters in London, Warsaw, Hong Kong, Tokyo and additional offices in other locations. It stands at No. 2 on the list of investment banks in the world by revenue and is 59th on the Fortune 500 list of the largest corporations in the United States. The main work done at Goldman Sachs is to invest in and arrange to finance start-ups and get additional business. They offer services in investment banking, asset and investment management, securities underwriting, prime brokerage etc. Goldman Sachs is one of the primary dealers in the US Treasury Security Market.
It also provides custodian and clearing bank services. Wealth management services are also provided via Goldman Sachs Personal Financial Management. Goldman Sachs is also the owner of a bank, Goldman Sachs Bank USA. Complex and tailor-made financial products are structured here. Goldman Sachs engages in both flow trading, that is on behalf of its clients and proprietary trading, that is for its account. In simple words, Goldman Sachs provides several financial services and advice to a diverse client base that includes multinational corporations, financial institutions, governments and significant individuals.
Working at Goldman Sachs
Being a large multinational corporation, Goldman Sachs has a number of divisions that have different functions and require different qualifications in their employees.
Employees working in this division are responsible for bringing together traditional and alternative investments. They provide clients with a strong partnership and focus on long term goals. This team is responsible for the primary investments of the firm. They provide investments and advice to some of the world’s leading sovereign wealth funds, insurance companies, foundations and individuals.
Conflicts Resolution Group
Evaluates and investigates the firm’s business activities to identify and manage, actual or perceived conflicts of interest. These may result from the firm’s new or existing, roles, positions, responsibilities, reputational risks and client sensitivity. The main function of the conflict resolution group is to safeguard the company’s relationship with the client, protect confidential information and ensure that the firm is able to fulfil its responsibilities towards the client, before and during the engagement.
Corporate and workplace solutions
This team is responsible for the well-being of every employee that works at Goldman Sachs. They make sure that whole an employee is working, they are comfortable and are carrying out their day to day work professionally. This team is also responsible for the environmental and social efforts in the facilities and supply chains.
At Goldman Sachs engineers are responsible for building the innovations that are the driving forces of the business and financial markets worldwide. They solve challenging problems for their clients. They build software and systems, and infrastructure solutions, guard against cyber threats and turn data into action.
The Executive office plays an important role in the corporate strategy of the firm. They safeguard the firm’s relationship with clients, alumni, share holders, policymakers and the public while ensuring that the company’s own employees are up to date with its priorities.
The Finance division collaborates with firm and divisional leadership to understand and deal with the risks and find solutions through quantitative analysis and forecasting. They are responsible for firm-wide business planning and transformation initiatives. They partner with other teams to gain the required expertise, in order to predict financial outcomes.
Global investment research
This is a team that consists of more than 1000 professionals who provide client-focused research in the equity, commodity, currency and fixed income markets. These clients may be asset managers such as hedge funds or mutual funds or asset owners such as pension funds, endowments or foundations.
These teams are responsible for delivering high quality and strategic advice along with creative and profitable financial solutions to the clients. These include mergers, acquisitions, financing and risk management. They build long term relationships with a client and provide them with world-class execution over time.
The legal division plays an important role in the formulation and implementation of the firm’s strategy. They provide advice and counsel to all areas of the firm about maintaining the commitment to the clients, and to promote a culture of integrity and honesty.
Goldman Sachs in the financial crisis of 2007-2008
During the financial crisis of 2007-8, Goldman Sachs was a part of many of the companies that were criticized. Allegedly they had misled investors and earned huge profits when the mortgage market collapsed. The company then had to face quite a several investigations and lawsuits which ended with them paying $550 million in the settlement.
Goldman Sachs is a multinational corporation that deals with multiple financial aspects for significant companies and individuals. It is intricately organized to ensure smooth working.
Frequently asked questions
What does the controller’s division do at Goldman Sachs?
The Controllers division is responsible for managing the financial and regulatory obligations of the firm in accordance with the rules and regulations governing the financial markets, worldwide.
How to apply for a job at Goldman Sachs?
The application is available on the official website of Goldman Sachs. One of the programs has to be chosen to apply. After completion of the application, an email is sent to the applicant with further information and status of the application. Goldman Sachs also offers disability accommodation.