Goldman Sachs paid the biggest bonuses to junior bankers this year as investment banks took the axe to analyst payouts amid an ongoing deal drought that has led to deep job cuts in 2023.

The Wall Street bank paid its first-year analysts average bonuses of £41,085 in 2023, according to newly-released figures from recruiters Dartmouth Partners, which is broadly in line with a year earlier. Those in the second year of their careers brought in £51,111, the survey shows, which again is flat when compared with 2022 payments.