Goldman Sachs Severance Package in New Jersey 2026

The numbers for a typical Goldman Sachs employee in New Jersey

Typical formula

Discretionary, not formulaic: Goldman has no SEC-filed severance plan (unlike CVS or Citi's CAP plan). NY norm: ~60 days continued 'active employment' at full base + benefits, then ~5 weeks base-pay severance + tenure-based extension. By level (employee-reported via Fortune, eFinancialCareers, SimpleSeverance): Analyst/Associate 4-8 weeks, VP 3-6 months, Director/MD 6-12+ months, Partner discretionary (typically 12+ months with deferred-comp negotiation). Bonuses EXCLUDED by default.

Average annual salary

$200,000

Example: 16-week gross

$61,538

New Jersey state withholding

11.8%

Federal supplemental

22.0%

Combined withholding

33.8%

Net take-home (16-week example, before FICA)

$40,738

Worked example uses Goldman Sachs's average salary of $200,000 and a 16-week severance period. Your actual package depends on tenure, role level, and the specific terms of your separation agreement. Use the calculator below for your personal numbers.

New Jersey-specific protections for Goldman Sachs employees

Negotiation angles at Goldman Sachs

• ·Garden leave duration is THE lever for VP+ (Fortune, SimpleSeverance): 30-90 days standard, 3-12 months negotiable for senior staff. Garden leave = full pay + active benefits + active equity vesting, the biggest single dollar lever in the package
• ·Unvested PSU/RSU continued vesting: Goldman's Compensation Committee has discretion. Uncommon but achievable for MDs/Partners with 2-4 years of unvested equity stacked from prior bonus cycles
• ·Non-compete / non-solicit narrowing: Goldman aggressively marks ex-broker Form U5s with 'garden leave violations'. Negotiate scope reduction in writing before signing
• ·Bonus inclusion ask: the #1 unresolved grievance from Jan 2023. Push for prorated bonus, especially if laid off post-Q3 when accrual is substantial
• ·Voyage-specific 2025-2026 lever: if Goldman's ultimatum is 'move to Dallas/SLC or leave,' refusal-induced exits should be treated as INVOLUNTARY terminations with full severance, not voluntary resignation. Get this classification in writing
• ·Chen-Oster $215M settlement leverage (2023): Goldman settled the gender-discrimination class for $215M covering 2,800 women. Sanford Heisler Sharp continues to investigate layoffs for disparate impact. Protected-class layoffs carry elevated EEOC/legal-claim threat value

Common questions

What is Goldman Sachs's typical severance package in New Jersey?

Goldman Sachs typically offers Discretionary, not formulaic: Goldman has no SEC-filed severance plan (unlike CVS or Citi's CAP plan). NY norm: ~60 days continued 'active employment' at full base + benefits, then ~5 weeks base-pay severance + tenure-based extension. By level (employee-reported via Fortune, eFinancialCareers, SimpleSeverance): Analyst/Associate 4-8 weeks, VP 3-6 months, Director/MD 6-12+ months, Partner discretionary (typically 12+ months with deferred-comp negotiation). Bonuses EXCLUDED by default. as the base severance package. New Jersey adds 11.8% state income tax on top of the federal 22% supplemental withholding, for a combined withholding of 33.8% on the gross severance amount. New Jersey also requires mandatory minimum severance for qualifying layoffs, which may stack on top of Goldman Sachs's offer.

How is Goldman Sachs severance taxed in New Jersey?

Severance is treated as supplemental wages under IRS Publication 15-A. Federal withholding is a flat 22% (37% on amounts above $1 million in a calendar year). New Jersey adds a state supplemental rate of approximately 11.8%. The combined withholding is approximately 33.8%, plus FICA (6.2% Social Security up to the wage base + 1.45% Medicare). The withheld amount is reconciled at tax-filing time against the year's total income.

Does New Jersey require minimum severance from Goldman Sachs?

Yes. New Jersey: NJ WARN generally covers employers with 100 or more employees and mass layoffs of 50 or more employees within 30 days at or reporting to a New Jersey establishment operating for more than three years. Other coverage and aggregation rules apply. For covered events, the baseline is one week's pay per full year of employment even when full notice is given, plus four additional weeks for an employee given less than the required 90 days' notice. A licensed New Jersey employment attorney can assess coverage and exceptions. This applies to Goldman Sachs if your separation qualifies under the state's threshold.

Can I negotiate severance from Goldman Sachs if I'm based in New Jersey?

Yes. Goldman Sachs's standard formula is largely fixed, but peripheral terms (extended healthcare coverage, accelerated equity vesting, non-compete narrowing, outplacement upgrades, release-of-claims scope) are typically negotiable. Consider consulting an employment attorney licensed in New Jersey before signing.

What's the take-home from Goldman Sachs severance in New Jersey?

For a typical mid-tier Goldman Sachs employee earning around $200,000 annually, a 16-week severance comes to approximately $61,538 gross. After federal supplemental withholding (22%) and New Jersey state withholding (11.8%), the net take-home is approximately $40,738, before FICA. Tax is reconciled at filing time against the year's total income, so actual final tax may be higher or lower than the supplemental withholding.