How to make VP at Goldman Sachs
Goldman Sachs a lot of Vice Presidents. They’re one of the bank’s most common titles, in fact – and despite the seeming prestige of the name, they’re quite middling. Bankers’ titles are complicated like that.
The firm has also promoted a chunk of new people, too. But unlike last year (when it promoted 2,500 people to VP) or the year before (when it promoted 2,200), it hasn’t broken down how many people made the rank this year.
So, who are they? And how do you become a Goldman Sachs VP (also known as an executive director in Europe)? It's a role worth having: in New York, Goldman Sachs VPs earn between $120k and $300k in salary alone according to the H1B visa database. Bonuses are paid on top of this.
You don't need to come from Goldman's graduate scheme
When Goldman Sachs promoted its latest group of partners last year, it said 43% of them joined as campus hires. At VP level, it might be expected that campus recruits would be more significant. They're not: Goldman hasn't broken out the provenance of its new VPs in 2023, but last year it said that 70% of its new class of VPs joined from elsewhere.
It probably helps to work in multiple offices
In previous years, Goldman said 20% of its new VPs had worked in multiple offices, suggesting that it might be significant, although we don't know how this compares to non-VP promotes at the firm.
You might want to work in India, actually
Staff at Goldman's Indian offices in Bengaluru and Hyderabad don't feature much on the partner or managing director lists, but they're disproportionately represented on the list of new VP promotions. The firm says that 23% of its new VPs are in these Indian offices and that another 11% are located elsewhere in APAC. This compares to the 5% of recently promoted MDs in India and 10% of recently promoted MDs in other APAC countries.
While India is over-represented in VP promotions, the Americas are under-represented. 45% of the new VPs are in the Americas, compared to 56% of MDs. Goldman said 64% of its revenues in the third quarter came from the continent.
It's quicker if you're in technology
If you want to become a VP in Goldman Sachs' investment banking division, you'll typically have to climb the hierarchy and progress through the analyst and associate levels before you make it. If you're an engineer or a quant, it might be a bit quicker. Narayanan Baradwaj, a tech VP in Bengaluru, who only graduated from his bachelor's program in 2018, was part of the VP class of 2023.
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