I was accepted into the Discover Goldman Sachs regional camp in Dallas/Irving where you get an on-site first round interview, and I really want to aim for an investment banking summer internship.
So two questions: (1) It seems that Dallas may not even have an IB office? So far I've only read that Dallas has a strong PWM office.
(2): Would it be worth it to do there (if they don't have IB and I'm accepted) at Goldman or aim for an IB internship elsewhere?
Background: Sophomore at an Ivy, economics major but no prior finance internship. Interested in IB/PE.
You're at an Ivy target school that's been accepted into a GS special program for the summer and are asking if you're better off doing an IB internship instead at (most likely) a significantly less reputed, small bank instead? Think the choice is pretty obvious...
I could try for IBD at a bulge bracket or apply to Goldman through on-campus recruiting for their New York office later in the semester if the options (PWM vs. IB) matter greatly for next summer. This interview will take place way before Goldman's info session at my school.
GS does not have an IBD in Dallas. Mostly mid-back office operations if I remember correctly
Thanks for letting me know. I was stupid and should have applied to their program in Salt Lake City. Would it be worth it though? I don't know if it's better to try for PWM in Dallas or for IBD (and various) when GS on-campus recruiting starts.
As far as I know, Goldman only has PWM in Irving
Goldman also has their Realty Management Division in Dallas. It's essentially the real estate Asset Management division that supports MBD/GSAM on real estate asset management decisions. Other than that it's PWM, Market Risk, Controllers, and Ops.
Is this Archon? A recruiter tried to set me up with them once a long time ago.
Thank for the info, AllDay_028! I'm quite interested in real estate but not at all in PWM (know nothing about Market Risk, Controllers, or Ops). Do you know whether they'll require applicants to know a lot about real estate finance for the interview?
At least until a few years ago, SSG and some middle-market lending was based out of Dallas
Hi, Everyone obviously doesn't know what they are talking about because GS does have an IBD group in Dallas. I'm interviewing for it in a couple of weeks.
There are no front office IB roles there.
Edit: Excuse me, M&A roles. Real Estate is a completely different world imho.
But that wasn't the question. The question was IBD.
And Real Estate Financing is definitely something worth going for. So instead of saying there is no IBD division, tell someone specifically what is up. -__-
This is completely false... REFG is located in Irving and it is front office IBD. MBD is also front office.
Its not about the focus. In Goldman, they consider anything revenue producing apart of the revenue side. Yes, it is heavily focused on real estate. But its not limiting in any way. You are still doing investment banking. Its great to think about your exit ops, but most times plans change. ..it might be PE now, then later a RE developer...
Besides , M &A is slowing down.....
And you think the overbuild of multi-family, class a office space, and high-end shopping is going to carry on into perpetuity? We're all fucked pretty soon. Except the restructuring guys, they're licking their chops. Everyone young enough to be looking at an internship should be focused on exit ops and by that I mean the optionality of what your current choices set you up for. To your point...plans change. Better to have more potential career paths (in aggregate meaning internal and external) than fewer at a young age.
So much misinformation here... OP, to answer your question, PWM is located in the Crescent in Downtown Dallas. It is FO, and pays well. Will it get you to IBD? I think your target undergrad has a better shot than PWM, but who knows? I think you'd be doing yourself a favor by doing an IBD internship, just to see if it's something you really want to do for FT. You might change your mind. Irving has a small IBD population. I know it is in originations (RE), and possibly Lev Fin. Irving has RMD, and a bunch of back office (ops, controllers, etc).
My advice would be to take the interview. It's practice for 'when it really counts', and a free trip to Dallas. I love Dallas, it's my home town, but it doesn't have a huge presence in IBD. It's really the place where people move back to for HF, PE and REPE.
Pm me if you'd like.
The 3 primary FO functions in the Irving office are the Specialty Lending Group part of Securities, REFG part of IBD, and RE Credit Investing part of MBD. Met analysts within each group and hours are pretty horrid. MBD is slightly better. I don't think they have a Lev Fin group. RMD is also technically not a FO function, they are essentially a back office for MBD and they went to Federation Summer Training instead of Revenue training. The biggest groups are Ops, Tech and Controllers/Investment Accounting/Tax.
Who the hell is throwing MS on all of my posts? I know everything about the Irving office and trying to inform you fucks.
@Communist, that is what I am trying to understand! On mine too.
I mean how many people on this thread have ACTUALLY BEEN TO THE IRVING OFFICE. -__-
Do you know if the Dallas IBD group, or any group in Dallas takes sophomores? I am a rising sophomore at a target/Ivy from Dallas with the end goal of NYC, so having the GS name would help
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