How much you can earn in your first year at Goldman Sachs, JPMorgan and other big investment banks

Banking is renowned for its high levels of compensation. In return for long hours and often punishing work, bankers tend to be very generously remunerated.

That's particularly true in investment banking — generally seen as the pinnacle of the industry, especially for graduates trying to get into the industry.

According to a report from recruitment firm Dartmouth Partners out this week, the average first-year analyst working for a major bank earns around £72,000.

That's a lot more than graduate salaries in most industries, which tend to hover between the £20,000 - £30,000 mark.

Obviously, salaries differ between banks, but where are junior staff paid the best?

Dartmouth Partners analyzed the salaries and bonuses of first-year analysts (generally recent graduates) working at nine of the biggest investment banks in London, with banks from the UK, USA, Switzerland and Germany included.

Base salaries at all nine were the same — £50,000 — while American banks generally offered higher bonuses to their most junior staff.

Check out the best paying banks below.

Note: Dartmouth Partners' data for Citi, Barclays, UBS, Credit Suisse and Deutsche Bank includes six-month bonuses paid for analysts starting last summer, while all other banks include a full year bonus paid in summer 2017. 

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How much you can earn your first year at investment banks
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How much you can earn your first year at investment banks

9. Barclays

Base salary:£50,000

Average bonus:£11,000

Total compensation:£61,000 

Photo credit: PA Images

T=7. Citigroup

Base salary:£50,000

Average bonus:£15,000

Total compensation:£65,000 

Photo credit: Reuters

T=7. UBS

Base salary:£50,000

Average bonus:£15,000

Total compensation:£65,000 

Photo credit: Reuters

6. Deutsche Bank

Base salary:£50,000

Average bonus:£16,000

Total compensation:£66,000 

Photo credit: Getty

5. Credit Suisse

Base salary:£50,000

Average bonus:£19,000

Total compensation:£69,000 

Photo credit: Reuters

4. JPMorgan

Base salary:£50,000

Average bonus:£26,000

Total compensation:£76,000 

Photo credit: Reuters

3. Goldman Sachs

Base salary:£50,000

Average bonus:£28,000

Total compensation:£78,000 

Photo credit: Reuters

2. Morgan Stanley

Base salary:£50,000

Average bonus:£32,000

Total compensation:£82,000 

Photo credit: Reuters

1. Bank of America Merrill Lynch

Base salary:£50,000

Average bonus:£41,000

Total compensation:£91,000 

Photo credit: Reuters

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