Goldman Sachs ACCELERATED summer internship?

Is anyone familiar with the accelerated summer internship process? I know goldman does this for FT, but I've never heard of it for SA. What is the interview process like, and is it a significant advantage over regular recruiting?

and no, this is not study abroad

 

Does anyone know how Goldman chooses people to email this program to?

I believe the app is open for for sophomores and juniors. What are the chances of sophomores getting something like this, especially coming from a semi-target?

Would appreciate any comments!

 

Can anyone who's familiar with this shed some light? The application deadline is tomorrow and I'm debating whether to apply.

I feel like I could be much more prepared if I waited until January (didn't know about this until 2 days ago), but if it gives you a better chance...

It's also interesting that there's practically no information about this in past threads (it's all focused on accelerated FT)...is this new?

 
AstonMartin:
I'm assuming if you apply for the accelerated an don't get in, you won't have another chance during regular SA recruiting right?

Yes, this is correct

 

Has anyone heard back yet? I got an e-mail saying we will hear back no later than midway through November. If we didn't hear back yet, is it safe to assume we didn't get the interview, or is there still hope...

 

Has anyone heard back yet? I got an e-mail saying we will hear back no later than midway through November. If we didn't hear back yet, is it safe to assume we didn't get the interview, or is there still hope...

 
ChokinMonkey:
Has anyone heard back yet? I got an e-mail saying we will hear back no later than midway through November. If we didn't hear back yet, is it safe to assume we didn't get the interview, or is there still hope...

I'm in the same boat. My contact said I am definitely getting a super day, but I am now a little nervous since I haven't heard anything.

Anyone else heard back for November super days?

 

Did accelerated for SA at a top BB. Assuming this is actual accelerated (mostly for kids who did sophomore programs), not just for folks going abroad in the Spring: 1. It is an advantage, because they're very selective about who they go through the trouble of offering these accelerated slots to, and in the interest of not wasting anyone's time if they're willing to interview you early it's likely they'll give out a high percentage of offers. 2. If you get rejected it may not look great, but you can still reapply with the general applicant pool. Especially if something substantive changes in the meantime (new job, better gpa, more contacts, more polished interviewing skills, etc)

 
GutShot:
Did accelerated for SA at a top BB. Assuming this is actual accelerated (mostly for kids who did sophomore programs), not just for folks going abroad in the Spring: 1. It is an advantage, because they're very selective about who they go through the trouble of offering these accelerated slots to, and in the interest of not wasting anyone's time if they're willing to interview you early it's likely they'll give out a high percentage of offers. 2. If you get rejected it may not look great, but you can still reapply with the general applicant pool. Especially if something substantive changes in the meantime (new job, better gpa, more contacts, more polished interviewing skills, etc)

Some of it's true, but at the same time, accelerated interviews are a gamble for the firm, because they're giving out offers without having seen the entire applicant pool. I can't even count how many times they'll ask during interviews "Why should we give you an offer now rather than wait for the rest of the applicants" when I've applied accelerated. Also, banks love pushing decisions back (waiting multiple weeks because there's not as much pressure from competing offers or OCR deadlines) during accelerated interviews.

As for the second point, I'm not sure about other banks, but I know that GS doesn't let you apply for normal recruiting once you've been rejected from accelerated.

 
GutShot:
Did accelerated for SA at a top BB. Assuming this is actual accelerated (mostly for kids who did sophomore programs), not just for folks going abroad in the Spring: 1. It is an advantage, because they're very selective about who they go through the trouble of offering these accelerated slots to, and in the interest of not wasting anyone's time if they're willing to interview you early it's likely they'll give out a high percentage of offers. 2. If you get rejected it may not look great, but you can still reapply with the general applicant pool. Especially if something substantive changes in the meantime (new job, better gpa, more contacts, more polished interviewing skills, etc)

Both of these are wrong...there is no advantage given to those that apply early, they are simply completing the process earlier. They don't have a preset number of interns they are looking to hire, so you are not given a certain higher percentage of offers. Also, if you are rejected, you cannot reapply, you are done if they reject you for the year, but you can reapply the next year for a FT or SA position if you applied as a sophomore.

 
HarvardOrBust:
akybaky:
I applied for securities and GSAM (at the October 31 deadline); and had 2 IMD interviews and 4 securities interviews. Got the offer in securities and waiting to hear regarding GSAM.
Congrats. What year are you?

Thanks. I'm a junior (c/o 2012).

And grad_2012 is correct. You're not at an advantage or disadvantage. My school's recruiter told me there were some years where they took a ton of people from the accelerated interview and others where they only took a couple. But after you go through the superday we were told that one of 3 things would happen:

You'd be extended an offer. You'd be rejected; and wouldn't be able to apply later You'd be put on hold; and then considered again with the general pool of people that applied.

 

I thought it would be any employee who is able to make a referral to hr? obviously someone not who has been an employee for a week or two. My thinking is hr would really look out for referrals because they cut the time needed to swift through applications and they can also say they have been fair.

 
Best Response

Hi everyone- not sure where you are in the process right now, but I got a few questions from people via PM and thought I'd post my answers here for everyone's benefit. (For context, I got an IBD offer during the first round of accelerated last year)

What prompted you to apply for the accelerated interviews? I applied early because I felt ready and thought it would improve my chances, plus I wasn't attached to any specific firm so didn't care if GS didn't work out

Are there inherent advantages in applying early? I think applying early is advantageous depending on the applicant. If you are a strong candidate and prepared for the interview, especially if you have previous finance experience, I think that applying early will always help your chances because the pool is just smaller and if they like you, they'll likely take you

What was your interview like? First round: 2 on 1 interview, very technical. second round: 3 interviews in a row, (two 1 on 1s and one 2 on 1). Mostly fit, some straightforward technicals thrown in, and stress testing. I didn't get any market oriented questions but I know other people did that day

Do you have any idea how many people they ended up giving offers to from the 25-30 kids at the IBD superday? I believe it started off with 50 in the first round, cut down to 20 second round, and 4 offers (2 wharton, 1 NYU, 1 UT). All interviewees seemed to have strong finance backgrounds, although there were plenty of randos who were totally unprepared

How did you prep? Focus on tech or fit? Very limited prep and felt relatively unprepared going in, but I focused on tech because I felt that was my weakness. M&I was good preparation. Fit is more important though! If you are a good fit interviewer, you will have an advantage for any position. This means really knowing the firm and having specific examples to back up what you say

Hope this helps! Good luck everyone!

 

First-round was on-campus interview, right? or there are two stages even on a superday: first round and second round?

"I do not think that there is any other quality so essential to success of any kind as the quality of perseverance. It overcomes almost everything, even nature."
 

I thought it went well, but I wasn't given a second round :( There were about 35 people interviewing for IBD and I think about 7 got second round interviews the same afternoon. Some of the rest were put on "hold" to hear back in a few weeks.

There were loads of other people interviewing for IMD and S&T.

 

Spoke to GS HR today. Can't comment on the interview selection but I can comment on the overall process.

If you didn't get the interview by now, you didn't get the interview for the accelerated SA process. With that said, your application will still fully be considered during regular internship recruiting which occurs next semester.

I was told that this was HIGHLY competitive. HR told me they chose 10 candidates across all schools (not sure if this is number of people who received interviews, or people who will receive offers from the accelerated process).

Hope this helps.

 
BigBang:
Spoke to GS HR today. Can't comment on the interview selection but I can comment on the overall process.

If you didn't get the interview by now, you didn't get the interview for the accelerated SA process. With that said, your application will still fully be considered during regular internship recruiting which occurs next semester.

I was told that this was HIGHLY competitive. HR told me they chose 10 candidates across all schools (not sure if this is number of people who received interviews, or people who will receive offers from the accelerated process).

Hope this helps.

first, if you call GS HCM "HR", i doubt ur the validity. second, they sent out the interview invitations ONE week before the interview. though your 10 candidates data is pretty close. they did not even bring bunch of kids to the interviews at the first place.
 
BigBang:
Spoke to GS HR today. Can't comment on the interview selection but I can comment on the overall process.

If you didn't get the interview by now, you didn't get the interview for the accelerated SA process. With that said, your application will still fully be considered during regular internship recruiting which occurs next semester.

Not necessarily true. I applied at the October deadline (Oct 31) and I didn't get an invite to the superday until a week before the interviews which were Nov 19th. I also got the offer.

So I would wait at least until sometime next week. But if you are put on hold you will be considered again when normal recruiting picks up.

BigBang:
I was told that this was HIGHLY competitive. HR told me they chose 10 candidates across all schools (not sure if this is number of people who received interviews, or people who will receive offers from the accelerated process).

Hope this helps.

This is more/less spot on though not too many people are there to start with.

 

I applied for two revenue generating divisions on Nov 27, according to the email I received from GS on Dec 2 afternoon, "To the extent that there is interest in your candidacy, you will be contacted regarding next steps by mid-December, at the latest."

 

Any other updates/has anyone else heard anything either way? (I'd appreciate if we could avoid discussing the stats as its just making me more stressed)

 

I got an email to set up a phone interview for desk strategist, but didn't apply through their website, just submitted my resume at an on campus presentation... does it mean i'm considered for accelerated process? What should I expect from it? I don't think I'm interviewing for IBD...

 

Issues of relative applicant talent pool aside, getting an accelerated process superday interview means if you don't make it through, you won't be looked at again for regular season recruiting. If you don't get an accelerated interview though, you'll still have a shot at regular rounds

 

Even though arguewithatree already got his acceptance letter for an interview from someone specific today, does Goldman generally announce their decisions all at once or could a recruiter be lazy and send out an acceptance email, say, tomorrow or Monday if the superday is next Thursday?

 

Okay, cool, that is definitely reassuring. arguewithatree -- Are you from a target or anything, or did you do any notable networking?

I'm worried that I was a little bit too aggressive. After submitting my app, I emailed a VP to basically say "thanks for talking to me and I applied to your firm" and attached my resume. We've talked before, but he didn't respond. I'm worried I offended him/overstepped a line/whatever. oh well

 

lettuce - it depends on what you consider a target. in terms of, does GS recruit from my school? yes, they do have postings on OCR and they usually come to campus twice to do info sessions. Do I go to an Ivy/would my school be consider high caliber? No, not really. Most people on this site probably wouldn't consider it a prestigious school. I didn't do much networking. I went to the info session but never followed up with anyone after, just introduced myself to a few bankers. Doubt that did anything though.

 

What exactly is Goldman Sachs IBD Financing? Does a SA get experience at all the groups within it or is there another placement process before one starts? What are the exit opportunities after a few years?

 
IBDforND:
Didn't apply to that one, but I did apply to the Accelerated Study Abroad application also due on 11/27 and got that one... Good luck!

Hi IBD! :) what kind of questions did you get at your SA interview?

 

Yeah, I think we are from the same school. Are you planning on applying? Do you know if there are any consequences if we get rejected from the accelerated process?

 

I did it last year. If you aren't picked to interview for accelerated u are still considered for regular recruiting, but if you get interviewed and then rejected your taken out of the pool

 

There are two early deadlines. One is coming up really soon and the other is about a few weeks later. Does applying to the earliest one make a big difference?

 

I applied to the October 30 deadline last year. I heard back on November 11th and superday was November 19th.

So going by last year, I'd imagine you'd hear back by Friday at the latest.

 

@josiahsiung what division did you apply for? I did IBD but got nothing so I've pretty much given up if since an IBD interview request was already sent out . Maybe more luck during spring recruitment...

 

This is my first post but I been a lurker on here for awhile.

I am from a non-target, already interviewed once my sophomore year in NYC but was not given an offer. I was encouraged to attempt again this year and am doing so.

Regarding the early application codes, what criteria does HR use to e-mail these out? I would be interested in an early-commitment program like this, as GS is my top choice, but did not receive an e-mail with a code in it. Would it be ineffective to use the accelerated process code and apply now?

Just trying to understand more about the use of accelerated app codes. Thanks.

 

I haven't heard back from anyone yet, and it's already early December-ish (which is when they said they would notify us if we got an interview, right?). Hence, my question above.

It might be an advantage to be selected in the accelerated process because you get the process over with already ;) :P

 

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