JPMorgan and Goldman Sachs are the highest-paying investment banks in the City for junior and mid-ranking dealmakers, as entry-level salaries in the sector have swelled by 26% over the past year.

JPMorgan’s first-year salary of £70,000 is the highest among its peers, according to a survey of analyst to vice-president level dealmakers by specialist recruiters Dartmouth Partners. Meanwhile, Goldman’s bumper bonus payouts in 2021 have set it above the competition on variable pay, the data shows.