You are currently viewing The highest and lowest paid analysts, partners and vice presidents in finance

The highest and lowest paid analysts, partners and vice presidents in finance

How much will you earn as an analyst, partner or vice president in an investment bank on Wall Street in 2022? It depends a lot on where you work and what part of the business you work in: front, middle or back office. While finance is accepted as one of the highest-paying industries, the $110,000 starting salary for front-office analysts and seven-figure bonuses for some seniors mask poorer salaries in the middle and back office.

Using data from H-1B visas – which are issued to foreigners requiring sponsorship to work in the United States – we have compiled the salary ranges of analysts, associates and vice presidents of major New York investment banks. . Although this does not represent all workers in the company, it does show that there is a significant gap (especially for technology, developer and support roles) where a middle or back office VP can earn a little more than a first-year front office analyst. .

The most startling figures are the low-end salaries of analysts, partners and vice presidents at Goldman, JPMorgan and Credit Suisse. While a Goldman analyst salary of $70,000 corresponds to a role classified as “accountants and auditors” according to visa filing, there are several salaries ranging from $75,000 to $82,000 for positions described as “quantitative financial analysts ” and “risk management specialists”. The Goldman associate salary of $77,000 fits a role marked as “software quality assurance engineers and testers” and there are also several software developer roles just north of $100,000. Associate accountants appear to start at around $101,000, which is even more than their Big Four counterparts who, according to EY data, will earn only $73-85,000 after five years.

At JPMorgan, the vice president’s $116,000 salary is for a sales manager in “global custody product management,” while the Credit Suisse vice president’s $105,000 salary is for a risk management specialist. The Credit Suisse analyst salary of $72,000 is, like Goldman, for an accountant or auditor.

It’s no news to anyone that the front office earns more than the back office, but the data above makes the pay disparity between certain roles stark. With front office salaries increased sharply last year, the magnitude of the gap is not surprising. While the H-1B data may only speak to the experience of foreign workers on Wall Street, it reiterates the long-standing narrative that front office compensation is subsidized by a cheap, efficiently managed back office that barely under the impression that once they’re in “the ecosystem” i.e. within the walls of a major financial institution there will be the possibility of progressing from the back to the front.

Earning a base $116,000 as a vice president of back or middle office at JPMorgan is still nearly four times the median US income. But that’s only a little more than once the $100,000 base salary of a front-office analyst at the same bank. It must hurt.

Photo by Emil Kalibradov on Unsplash.

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