Advice - Goldman Sachs New Analyst Programme/Program
Hello! I am doing a funded MSc (4.0 GPA) and working, both full-time. I have been working in my field for the last few years and graduate in 2024. I have a military background, am the first graduate of my family, and have been grinding hard due to my life background. Long story short, I applied to Goldman Sach's new analyst programme weeks ago. I chose the analyst role as I did not have the advanced degrees specified, have zero experience in finance, wanted a better shot, and would rather be a strong analyst going into an associate than a weak associate. I admit that I did not even know the profession of IB in detail until recently (after some counsel in a networking event) and would greatly appreciate some insight. I, as such, missed Barclay's graduate program deadlines, unfortunately.
I have been reading up on the program and it has been hard to find consistent information. I reached out to individuals on Linkedin with no response and found myself here. I understand that they no longer do a 2-year program, the GSU still exists, and that it is a full-time position. (I also realize that I haven't been invited for a hire-vue but I want to ensure I am preparing myself when and while I can (as I have little flexibility in my hours, in wishful thinking).)
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1. If there is no set duration for the program, are people weeded out based on their test results while attending GSU and then following their first performance reviews?
2. Some note that a technical test for IB applicants exists ("Walk me through the three different ways of valuing a company."), while others don't. Does this depend on the applicant's background? To follow up on that...
3. If I have no financial background, is it safe to assume they will still ask me more macroeconomic or investing-type questions? ("If you had $1 million, how would you invest it?")
4. Did I screw myself over by applying for the analyst role and not the associate?
5. To add, I am a Canadian citizen (not dual) in Canada but applied for US positions. Are my chances quite low?
6. Any other tips and advice would be incredibly appreciated.
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Thank you very much!
I think you're fundamentally misinformed about how this program works.
Ignore the concept of thinking about this like some sort of training program. For all intents and purposes, this is applying for a full time role at Goldman Sachs. GSU merely refers to how they've branded their training and ongoing learning. It is not an actual university or any sort of actual educational program that you have to "pass". Technically there is an Analyst "program" but it's better and simpler if you just think of Analyst as a rank within an organization that is eligible for promotion (to Associate) within 2-3 years.
A little bit but you're still expected to know what you need to know... If you can't walk them through basic technicals then tbh they'll get someone who can. On this topic. it is worth understanding that 1) you have to specify a division I believe when applying for this program (maybe I'm wrong) and you haven't mentioned that in your post 2) assuming you've applied to an IBD FT analyst role with no experience, you might be surprised that this is not going to necessarily be super successful. I know the job description says "suitable for candidates with no work experience" but that's basically a base eligibility and they're not including internships in that definition of work experience. Most people successful at getting IBD FT analyst roles have already completed IBD FT internships at banks of a similar tier. That said, some banks like military experience, so I don't know the intricacies of how this tallies out.
They will ask you questions relevant to the division you have applied. You can find common IB interview questions on this forum.
Thank you very much for your advice. I really appreciate it.
I applied IBD (classical). Sorry that was not clear.
My understanding was definitely very different, but your response makes sense. My understanding came from the following:
It seems that is more idealistic/wishful thinking.
Based on your perspectives, would my pursuit become more plausible if I complete the SIE by the end of this month? I am happy to follow that up with series 63 as well, and do my best to research valuation models and other technical requirements for the position. Or - is this sort of a lost cause from the start?
I don't know what this means but 2 of 3 recruiters from my 3 selections found my profile on Linkedin following my application (it was not provided on my CV). I guess that gave me some hope. To add, I have (edited out). I hoped it might be seen as a positive. (Despite being a current student, I am also older.)
Regardless, it was worth a try :-). I will definitely face my application with more realism than I hoped.
Thank you!
I cannot comment on the overall competitiveness of your profile. I simply don't know. All I'm telling you is that this is an extremely competitive role and the normal profile of someone entering this program is not yours. That's just fact. Whether or not that precludes you from the program is up for GS to decide.
As I said with GSU, it's just branding for their training. Literally every bank does 1+ month of training at the start, they just might not brand it. However just because you get trained, doesn't actually mean you're meant to come in knowing nothing (even if that's what it appears like at face value).
No certification incl SIE will meaningfully impact your prospects.
Good luck! But I would plan some back up options here.
And I forgot the biggest thing - networking. I'm not gonna go into that but that's a thread to pull.
I appreciate your frankness. I will take this to heart and do what I can, at the very least.
Thank you :-). I will bear this in mind.
Thank you for this reminder. It felt discouraging cold messaging on Linkedin with no replies as I have no finance connections in my circles. I will continue to strive at this.
Lastly, thank you again for taking the time to write out these responses and offer your insight. It was truly helpful.
Hardly anyone starts out with finance connections tbh, shouldn't be a deterrent.
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