Goldman Research
Anyone know anything about Goldman equity research?
Trying to get some insight on the culture, hours, exit opps, respectability...anything that sets them apart in research.
Heavy focus on the numbers. Unofficial policy of being the best rather than the biggest; serve fewer buy-side clients hence poor ranking in Starmine, Extel etc.
Culture is more academic than other houses. Greater distance from the floor, and Spec Sales (or Marketing Analysts as called at GS) sit in the Research team rather than the Sales team.
Exit opportunities tend to be based on the Goldman name and alumni rather than analysts' reputation with the buy-side. They use a relatively unusual ratio technique for valuation and generally don't bother with DCF, which has an impact on transferability of skills to say PE. Nevertheless, very well respected. Calibre of employees within the department is exceptional, but there's less opportunity to make a name for yourself as an analyst.
Hours are standard ER: roughly 6:30 to 5:30 but fluctuates with newsflow.
Can you elaborate on the "culture being more academic?" And what do spec sales people exactly do?
Only guy I know that went to Goldman ER later joined two VERY VERY prestigious HFs.
If you don't mind me asking, was it a fund of citadel/SAC Capital/Moore caliber?
greater distance from the floor? what? I heard research worked closely with traders at Goldman...guess not?
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