A career in technology at Goldman Sachs represents a unique intersection of finance and innovation, offering the chance to solve complex problems on a global scale. But beyond the prestige, what are the financial rewards? For aspiring and current tech professionals, a position within Goldman Sachs' Engineering division offers a highly competitive compensation package, with entry-level total compensation often starting well into the six-figure range and scaling rapidly with experience and expertise.
This guide provides a data-driven look into what you can expect to earn as a technology professional at Goldman Sachs, the key factors that shape your salary, and the career outlook for this demanding yet rewarding path.
What Does a Goldman Sachs IT Professional Do?
First, it's important to clarify the terminology. While you might search for "Goldman Sachs IT," the firm refers to its technology division as Engineering. This is a deliberate choice that reflects the nature of the work. Engineers at Goldman Sachs are not just maintaining systems; they are building the future of finance.
The responsibilities of a Goldman Sachs Engineer are vast and critical to the firm's success. They are responsible for:
- Developing Trading Platforms: Creating and maintaining the sophisticated, high-frequency trading platforms that execute billions of dollars in transactions daily.
- Data Analysis and Management: Building systems to manage, analyze, and derive insights from petabytes of market data.
- Cybersecurity: Protecting the firm's and its clients' sensitive data from ever-evolving global threats.
- Client-Facing Technology: Designing applications and platforms, like the popular Marcus by Goldman Sachs, that serve millions of customers.
- Cloud and Infrastructure: Engineering the massive, scalable cloud infrastructure that underpins the entire firm's global operations.
In essence, they are software developers, data scientists, cybersecurity analysts, and cloud architects working in one of the most high-stakes environments in the world.
Average Goldman Sachs IT Salary
Salaries at Goldman Sachs are highly dependent on title and experience, and it's crucial to consider total compensation (base salary + annual bonus + stock awards) for an accurate picture. Finance compensation is heavily weighted towards performance-based annual bonuses.
Here is a typical breakdown based on data from reputable sources like Levels.fyi and Glassdoor, which provide user-submitted compensation data.
- Analyst (Entry-Level / 0-2 years): This is the typical title for new graduates.
- Average Base Salary: $100,000 - $125,000
- Average Total Compensation: $140,000 - $175,000
- Associate (Mid-Level / 2-5+ years): Professionals are typically promoted to this level after a few years or hired directly with relevant experience.
- Average Base Salary: $140,000 - $170,000
- Average Total Compensation: $180,000 - $250,000+
- Vice President (Senior Level / 5-10+ years): This is a senior technical or managerial role, not an executive board position.
- Average Base Salary: $190,000 - $250,000
- Average Total Compensation: $300,000 - $500,000+
*Note: Data is aggregated from platforms like Levels.fyi and Glassdoor as of late 2023/early 2024 and can vary. Senior roles like Managing Director (MD) see compensation figures that are substantially higher.*
Key Factors That Influence Salary
Your specific compensation package will be determined by a combination of factors. Understanding these levers is key to maximizing your earning potential.
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Level of Education
While a Bachelor of Science in Computer Science or a related field is the standard requirement, advanced degrees can provide a significant salary advantage, particularly for specialized roles. A Master's degree in fields like Financial Engineering, Cybersecurity, or Machine Learning can lead to a higher starting salary. A Ph.D. in a quantitative discipline (like mathematics, physics, or computer science) is often a prerequisite for the highly coveted—and exceptionally compensated—"Strats" (Quantitative Strategist) roles.
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Years of Experience
Experience is the single most significant factor in salary growth at Goldman Sachs. The firm has a well-defined career progression path from Analyst to Associate, Vice President (VP), and ultimately, Managing Director (MD). Each promotion comes with a substantial increase in both base salary and, more importantly, bonus potential. An Engineer with ten years of experience leading a critical infrastructure team will earn multiples of what a new Analyst makes.
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Geographic Location
Goldman Sachs has major Engineering hubs across the globe, and compensation is adjusted based on the cost of labor and cost of living in each region.
- New York City / Jersey City: As the firm's headquarters, this region offers the highest salaries to attract top talent in a highly competitive market.
- High-Cost Hubs (London, San Francisco): Salaries in these global tech and finance centers are also at the top end of the scale.
- Growth Hubs (Salt Lake City, Dallas, Bengaluru): While the absolute salary figures in these locations are lower than in NYC, they remain highly competitive for their respective local markets and can offer excellent purchasing power. According to Salary.com, a software engineer in Dallas may earn about 10-15% less than their NYC counterpart, but the lower cost of living can often offset this difference.
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Company Type
Comparing Goldman Sachs to other types of companies reveals different compensation philosophies.
- vs. Big Tech (FAANG): While base salaries may be comparable, Big Tech companies often provide more compensation in the form of Restricted Stock Units (RSUs) that vest over several years. Goldman Sachs traditionally emphasizes a larger annual cash bonus based on firm and individual performance.
- vs. Non-Tech Companies: A technologist at Goldman Sachs will almost certainly earn significantly more than someone in a similar role at a non-tech Fortune 500 company, as technology is a primary revenue driver and competitive differentiator in finance.
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Area of Specialization
Within Goldman Sachs' Engineering division, what you do matters immensely.
- Quantitative Strategists ("Strats"): These are hybrid roles blending advanced mathematics, software development, and financial modeling. Strats are among the highest-paid technologists at the firm due to their direct impact on trading revenue.
- Cybersecurity Experts: With financial institutions being prime targets, top-tier cybersecurity talent with expertise in threat intelligence, penetration testing, or security architecture commands a premium salary.
- Cloud and Machine Learning Engineers: As the firm continues its digital transformation, specialists in cloud platforms (AWS, Azure) and machine learning are in extremely high demand and are compensated accordingly.
- General Software Engineer: While still compensated exceptionally well, a generalist application developer may earn slightly less than a specialist in a high-demand field at the same experience level.
Job Outlook
The career outlook for technology professionals, especially those in finance, is exceptionally strong. The U.S. Bureau of Labor Relations (BLS) projects that employment for Software Developers is expected to grow 25% from 2022 to 2032, a rate considered "much faster than the average for all occupations."
This trend is amplified in the financial sector. Goldman Sachs and its competitors are in a technological arms race, constantly investing billions in technology to gain a competitive edge in trading, risk management, and customer service. This translates into sustained, high-paying demand for talented engineers who can build and maintain these critical systems.
Conclusion
A technology career at Goldman Sachs offers a compelling package: the opportunity to work on challenging, impactful projects combined with a top-tier compensation structure.
Key Takeaways:
- Expect High Total Compensation: Look beyond the base salary. The combination of base, bonus, and stock makes these roles among the most lucrative in the tech industry.
- Experience is Rewarded: Your earnings will grow significantly as you advance from Analyst to Associate and VP.
- Specialization Pays: Developing deep expertise in high-demand areas like quantitative finance, cybersecurity, or machine learning can place you in the highest compensation brackets.
- The Future is Bright: The financial industry's deep reliance on technology ensures a robust and growing demand for engineering talent for years to come.
For any technologist driven by complex challenges and motivated by significant financial rewards, pursuing a career within the Engineering division at Goldman Sachs is an ambition well worth considering.