Which division in Investment Banking offers the highest salary?

To fresh graduates.
and 5 years down the line

As long as you are on the investment banking side (rather than the stock research side or wealth management or any of those non-transactional parts) you'll make serious dollars vis-a-vis anything else you could get post-undergrad, so don't worry whether its corp. fin. or structured finance or fixed income securities or muni. finance.

5 years down the line -- that's an odd question. Most analysts work 2 years, then go to business school, and then after business school they go back into banking, into private equity, into operations, etc. ....

If you want to make a lot of money investment banking is a great option if you have the credentials and the fortitude for it, but honestly don't get so greedy that you come off as crass. If you told someone at a GS interview that you were interviewing at their group rather than another group because you thought you'd make more money, odds are they'll think you don't know what you are talking about it since every investment banker worth his or her salt makes serious cash.

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