Every 42 seconds, the BEST first year analyst at Goldman makes a dollar


Or 0.59 tubes of ChapStick, which considering how much this person is going to suck, will be sorely needed. What is the real purchasing power of these bloated analyst bonuses, or at least how long will it take to save up for that Phantom Drophead convertible?
Thanks to Forbes' "Money Meter" you can find out, and compare yourself to semi-significant people (or at least celebrities) in the process. Let's say that the BEST first year analyst at Goldman (aiming high, as he/she (well, it's Goldman, so he) should) wants to buy...Berkshire Hathaway.
The BEST Goldman first year makes $170k a year with that top tier bonus of $110k and a base of $60k. Berkshire Hathaway's market cap is around $170bn, which means that it will only take one million years (in a special version of hell) as the BEST Goldman first year IB analyst to buy Buffet's bloated baby (assuming no taxes, no growth, no premium, and that Buffet consumes the souls of the living (salmon) to stay eternally youthful). This combines the dreams of the BEST first year analyst at Goldman - he gets to be an IB analyst forever, and one day be a super big deal, or at least full of folksy wisdom.

The average American, on the other hand, makes only 22 cents on the dollar of every BEST Goldman first year. Warren Buffet makes almost $600 in this time.

The Money Meter [Forbes]


Goldman Sachs Does Not Look Kindly Upon First Year Analysts Who Plan In Advance

Pop-quiz: you're a first year analyst at Goldman Sachs, with a little more than twelve months left until your two year commitment is over and you are free to take a job elsewhere. Do you A) take part in private equity and hedge fund recruiting now, and, if someone was particularly impressed with your junior mistmaking skills, accept an offer for a gig beginning in June 2013 or B) tell the buyside you are sorry but are prohibited from engaging in such activities at this time, as they would pose a conflict of interest for Goldman Sachs? At this time, GS JM's believe the correct answer is A, while higher-ups, who believe there is a firm policy in place that says no analyst shall take part in recruiting until six months from the time they've finished the two year program, are going with B. So now this is happening: Goldman has been firing IBD first year analysts with buyside offers. Senior people are calling up funds to ask if any analysts have received offers from them. A bunch have been cut so far. A bunch, we're told, is in the ballpark of four, which seems like enough to put the fear of god into people.