Goldman Sachs has a lot of vice presidents: they’re one of its most populous groups of employees. This week, the firm promoted a new VP class comprised of 2,500 people. That’s 300 more than it promoted last year.
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 $111k and $300k in salary alone according to the H1B visa database. Bonuses are paid on top of this.
You don’t need to join Goldman’s graduate scheme
When Goldman Sachs promoted its latest group of partners this 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 says that 70% of its new class of VPs have joined from elsewhere.
It probably helps to work in multiple offices
Goldman says 20% of its new VPs have done so, suggesting it’s significant, although we don’t know how this compares to non-VP promotes at the firm.
You might want to work in India
Staff at Goldman’s Indian offices in Bengalaru 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 1% of recently promoted partners in India and 5% of recently promoted partners in other APAC countries.
While India is over-represented in VP promotions, the Americas are under-represented. 47% of the new VPs are in the Americas compared to 53% of partners. Goldman said 63% of its revenues in the third quarter came from the continent.
It’s quicker if you’re in tech
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. Paul Malus, an archetypal VP in Goldman’s US FIG (Financial Institutions Group), offering advice to financial firms, is typical of this route. However, if you’re an engineer or a quant, it might be a bit quicker: Xiaofeng Lu, a desk quant in London, only graduated with a PhD from Imperial College in 2020; Himanshu Agarwal, a VP software engineer working on Goldman’s Marquee product in New York, only graduated in 2017.
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