{ "media_type": "text", "post_content": "Typical first year salary as an associate in GS PWM?", "post_id": "58bf018f95ba2400103aa323", "reply_count": 5, "vote_count": 5, "bowl_id": "553769a790f5eebe1d2a0f92", "bowl_name": "Finance" }

Typical first year salary as an associate in GS PWM?

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A buddy interned with them last year and from my conversations with him, I'd say salaries and signing are the same. YE is much lower though and strong performers might be close to 25-30%. You get a runway of around 2-3 years during which you're expected to start building your own book and manage money. Portion of your salary and bonus is really being paid by the partner/MD you support so that explains the low bonuses. Star MDs though, that manage upwards of $250M can get a high portion of the production (typically 1% of assets) and can get as much as 60bp from what I've seen but it's difficult to get there of course. Funny this is they sell you on work life balance, but to get to a position where you have a book with $500M (to earn yourself a close to $2-$3M payouts annually) you're likely putting in same time and travel as another MD in IBD

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Great summary, HSBC 1. Thank you!

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Curious to know as well

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I came from PWM, don't go there

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100k salary on average, bonus I am unsure of, like HSBC said 2-3 years to build a book, but don't think about bringing on clients with accounts less then 15mm

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