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

banker champagneREUTERS/Ralph Orlowski

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 analysed 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.

Get the latest Goldman Sachs stock price here.

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9. Barclays

9. Barclays

Base salary: £50,000

Average bonus: £11,000

Total compensation: £61,000

T=7. Citigroup

T=7. Citigroup

Base salary: £50,000

Average bonus: £15,000

Total compensation: £65,000

T=7. UBS

T=7. UBS

Base salary: £50,000

Average bonus: £15,000

Total compensation: £65,000

6. Deutsche Bank

6. Deutsche Bank

Base salary: £50,000

Average bonus: £16,000

Total compensation: £66,000

5. Credit Suisse

5. Credit Suisse

Base salary: £50,000

Average bonus: £19,000

Total compensation: £69,000

4. JPMorgan

4. JPMorgan

Base salary: £50,000

Average bonus: £26,000

Total compensation: £76,000

3. Goldman Sachs

3. Goldman Sachs

Base salary: £50,000

Average bonus: £28,000

Total compensation: £78,000

2. Morgan Stanley

2. Morgan Stanley

Base salary: £50,000

Average bonus: £32,000

Total compensation: £82,000

1. Bank of America Merrill Lynch

1. Bank of America Merrill Lynch

Base salary: £50,000

Average bonus: £41,000

Total compensation: £91,000

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