Goldman Sachs pays an investment banking analyst a base salary of $110,000 to $125,000, in its US H-1B filings for "Analyst, Banker" roles from January 2025 to June 2026. Banker Associates are filed at a median of $175,000 and Vice Presidents at $275,000. Across the whole firm the same titles pay less: the median filing for any Analyst title is $79,500 and for any Associate title $120,000. Goldman's own 2026 proxy puts its median employee's total pay for 2025, salary and bonus, at $160,667.

Where the numbers come from. Base salaries are from 1,473 Associate, 1,545 Vice President and other public US Department of Labor filings by Goldman Sachs, worked out in code. H-1B filings show base salary only: no bonus, signing bonus, profit sharing or benefits. Bonus figures come from the dated reports named next to them.

Investment banking pay by level

Goldman's bankers are filed with titles such as "Analyst, Banker - Industry Country Coverage". Median base salary in those filings, January 2025 to June 2026. Range is the 10th to 90th percentile.

Level	Filings	Median base	Range
Analyst	21	$110,000	$110K to $125K
Associate	61	$175,000	$150K to $225K
Vice President	37	$275,000	$250K to $300K

The analyst filings show two steps, $110,000 and $125,000: the first- and second-year salaries Goldman set in 2021 (CNBC, August 2, 2021). The Associate median was $168,500 in 2025 filings and $175,000 in 2026 filings so far. The Vice President median was $275,000 in 2025 filings and $250,000 in 2026 filings so far. The Analyst median was $80,000 in 2025 filings and $79,500 in 2026 filings so far. The Associate median was $118,500 in 2025 filings and $122,400 in 2026 filings so far. The Associate, Sales median was $100,700 in 2025 filings and $150,000 in 2026 filings so far. The Vice President, Trading median was $252,500 in 2025 filings and $246,000 in 2026 filings so far. The Associate, Software Engineering median was $130,000 in 2025 filings and $139,000 in 2026 filings so far. The Vice President, Software Engineering median was $179,000 in 2025 filings and $181,000 in 2026 filings so far.

The same titles across the firm

Goldman uses Analyst, Associate and Vice President as firm-wide titles, so the same title covers bankers, engineers, operations and risk. All filings that start with each title:

Level	Filings	Median base	Range
Analyst	572	$79,500	$60K to $114K
Associate	1,473	$120,000	$81K to $160K
Vice President	1,545	$170,000	$118K to $230K

Pay by team

A few teams with enough filings to compare:

Title	Filings	Median base	Range
Associate, Sales	23	$112,500	$85K to $160K
Vice President, Trading	28	$252,500	$206K to $281K
Associate, Software Engineering	468	$135,000	$106K to $160K
Vice President, Software Engineering	545	$180,000	$140K to $221K

Bonus and total pay

2025 bonus pools: JPMorgan, Goldman Sachs and Bank of America raised bonus pools for their bankers and traders by at least 10% for 2025 (Bloomberg, February 6, 2026).
By business: Johnson Associates projected 2025 year-end incentives up 10% to 15% for M&A advisory, 15% to 25% for equity sales and trading and 5% to 15% for fixed income (Chief Investment Officer, November 10, 2025).
Total pay by level at large banks in New York, 25th to 75th percentile (Mergers & Inquisitions, 2026 report): analysts $165,000 to $225,000, associates $285,000 to $500,000, vice presidents $525,000 to $800,000. These cover the industry, not Goldman alone.

For the whole firm, Goldman's 2026 proxy statement puts the median employee's 2025 total pay, fixed and incentive, at $160,667, for a median employee identified as of December 31, 2025.

How we got these numbers

US employers that hire someone on an H-1B visa must first file a Labor Condition Application with the US Department of Labor, stating the job title, work site and the wage they will pay. The DOL publishes every filing in its LCA disclosure data. We read the filings through h1bdata.info, a free search of that data, because the DOL's own quarterly files run to hundreds of MB. We read them on October 15, 2026.

Filing window: filings submitted from January 2025 to June 2026, the latest the DOL has published.
Filings counted: 4,773 across the rows shown, one per DOL case number.
Job titles matched:
- Analyst: "Analyst, Banker (any group)" (21)
- Associate: "Associate, Banker (any group)" (61)
- Vice President: "Vice President, Banker (any group)" (37)
- Analyst: "any title starting with Analyst" (572)
- Associate: "any title starting with Associate" (1,473)
- Vice President: "any title starting with Vice President" (1,545)
- Associate, Sales: "Associate, Sales" (23)
- Vice President, Trading: "Vice President, Trading" (28)
- Associate, Software Engineering: "Associate, Software Engineering" (468)
- Vice President, Software Engineering: "Vice President, Software Engineering" (545)
Median: the middle filed salary for that title. Range: the 10th to 90th percentile, so a few unusual filings don't stretch it.
Base salary only. An H-1B filing states the base wage. Bonuses, signing bonuses, profit sharing and benefits are not in it, so the bonus figures on this page come from the dated reports named next to them.
Who is in it. Only roles filed for visa holders, at every US office. A filing is the wage the employer committed to pay, not proof of a hire.
Goldman files under Goldman Sachs & Co. LLC, Goldman Sachs Services LLC, Goldman Sachs Bank USA and other Goldman entities. All are counted.

Searches read:

goldman sachs, titles starting "analyst": 2025, 2026
goldman sachs, titles starting "associate": 2025, 2026
goldman sachs, titles starting "vice president": 2025, 2026

Getting the offer

Start with our Goldman Sachs interview questions guide. The pay starts with passing the interviews: fit questions, then accounting, valuation, M&A and LBO technicals. Work through our investment banking interview questions, each with an example answer, and the technical questions guide. Then practice them out loud on the investment banking page, since a memorized answer often falls apart under a follow-up. For analyst pay at every bank, see investment banking analyst salary, and compare JPMorgan salary and Morgan Stanley salary.

Sources

US Department of Labor, H-1B LCA disclosure data, filings submitted January 2025 to June 2026, via h1bdata.info, read October 15, 2026
CNBC, Goldman Sachs joins Wall Street rivals in boosting junior banker salaries, August 2, 2021
Bloomberg, Goldman, JPMorgan Bankers See Bonus Pools Rise at Least 10%, February 6, 2026
Chief Investment Officer (Michael Katz), on the Johnson Associates November 2025 projections, Certain Wall Street Bonuses to Rise by as Much as 25%, November 10, 2025
Mergers & Inquisitions, 2026 Investment Banker Salary and Bonus Report, early 2026, covers year-end 2025
Goldman Sachs, 2026 proxy statement (SEC Form DEF 14A), pay ratio disclosure, Proxy Statement for the 2026 Annual Meeting of Shareholders, filed March 20, 2026

Frequently asked questions

How much does a Goldman Sachs investment banking analyst make?

A base salary of $110,000 in the first year and $125,000 in the second, in both the 2021 pay scale and the filings from January 2025 to June 2026. Industry reports put analyst total pay, with bonus, at $165,000 to $225,000 (Mergers & Inquisitions, 2026).

How much does a Goldman Sachs associate make?

Banker Associates are filed at a median base of $175,000, from $150,000 to $225,000. Across all Goldman Associate titles the median is $120,000.

How much does a Goldman Sachs vice president make?

A median base of $275,000 for banker VPs and $252,500 for VPs in trading. Across all VP titles at the firm the median is $170,000.

What is the average salary at Goldman Sachs?

Goldman's 2026 proxy statement puts the median employee's 2025 total pay at $160,667, salary and bonus together, across the whole firm.

Did Goldman raise bonuses for 2025?

Bloomberg reported on February 6, 2026 that Goldman, JPMorgan and Bank of America raised bonus pools for bankers and traders by at least 10% for 2025.

Goldman Sachs Salary 2026: Analyst, Associate and VP Pay