Goldman Sachs Promotes 638 Executives To Managing Director, Its Largest Class Since 2021

Goldman Sachs announced that 638 Executives have been promoted to Managing Director (MD) roles this year, marking its largest class since 2021. The title typically carries a base salary of about USD 400,000 with significant performance-based bonuses.

The bank’s memo stated that 27% of those promoted are women, compared to 31% in 2023. Over 70% of the new MDs come from revenue-generating divisions. The biennial promotions come as Goldman benefits from a rebound in investment banking, with merger and acquisition fees nearing 2021 levels. Among those promoted is Vincent Lin, Co-Head of Prime Insights and Analytics, who said the firm plans to expand its global team. Goldman’s MD role is the final step before partnership. The bank’s main divisions have been led by men since 2024 after Stephanie Cohen’s departure.