Goldman had put out some interesting information about their IBD recruiting in their Investor Presentation a couple of weeks ago. See here
Big takeaways about IBD were that 28000+ applied for less than 500 positions, and over 50% of the analyst class is female.
Nice to see something other than conjecture regarding what campus recruiting for investment banking positions looks like at a BB
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I mean not to rain on your parade but isn’t that fairly sexiest of Goldman considering more than twice as many male apply vs female . So they are just turning away men simply because they are men and they want to meet a number for a certain percentage of women. Merit should be all that matters not picking people off of the race or sex
^^^ Not what you want to hear, but what you need to hear
who wants to work in an office full of dudes tho
That’s not the point.
This has to be the stupidest thing I’ve read today
Silent majority agrees with you.
Reverse sexism indeed.
Oh god, another men are disenfranchised and discriminated against post. Pathetic
28,000 applications for all the summer positions...that's fucking insane..or is that 28,000 just for IBD SA?
Just for IB
That's even crazier lmao...I can't imagine the range of resumes they get...from 2-pagers to colors and all that lol.
What the fuck...
This is pretty much what the stats look like for all three of the top BBs (GS, JPM, MS)- essentially we all knew this but it's nice to see some actual data confirming the acceptance %, etc. Although for these top BBs it's likely the case that everyone throws in an application bc why not - similar to the top 3 ivies.
I do agree that its disappointing to see that so many male applicants get turned away simply based off of their sex- a characteristic one cannot control. Happy to see more diversity, but it must be merit based no matter the end result- otherwise how can you sleep at night knowing you screwed somebody over simply due to them being either a male/female... very disappointing and goes hand-in-hand with Goldman's new initiatives (only doing business with boards that are filled with certain races that GS deems acceptable - how racist is that! Goldman has been losing market share in M&A, ECM, DCM, and every other category to the other big banks, I wonder if their strategy will play out- for the time being it certainly is a losing strategy, good luck to the old firm, hopefully this toxic culture won't be the death of this legend..
I'm sorry to hear you didn't get Goldman, buddy. I hope DJ D Sol sees this and gives you an offer.
Ha nice one man, luckily I got a much better offer. Better luck next time.
WallStreetOasis.com i don't know if this is a feature or a bug, but when people post snarky anonymous comments it reveals their username to the person they replied to.
Does the diversity carry into their groups? Or are there more guys in FIG, more females in DCM, etc.
Of course it's merit based - GS isn't going to hire POC / women just to fill a quota. If their groups produce supbar work their reputation suffers, and as such they will lose clients. Every single woman / POC I know working at GS is extremely talented and 100% deserving of being there.
The comment I posted was touching off of DOW30k's comment that it should be based off of merit, and when analyzing the statistics there is a clear trend that women are selected at a greater rate than men, if this is completely merit based that's fine; but, if you think about it, do you really think there is that significant of a difference between men and women, I would lean towards no. This means there is statistical significance that the quality "being a woman" or "being a person of x race" will influence the decision of whether or not an offer is extended- this is statistical significance aspect and the rate at which these practices are employed are what people have an issue with. Please research this, just be honest with yourself and say, "you know what I don't mind if a woman is picked over a man even if the man has potentially more attributes"- in other words accept your viewpoint in life and move on, there is no help for you anyhow if you think in these terms.
While on its face it this looks like a bad statistic, you also have to consider the factors you mentioned contributing to this statistic. There are probably a lot more men shooting out apps for shits and giggles than there are women applying to these roles. When you filter down the candidate pool to actually qualified candidates the number is likely a lot closer to 50% especially given the nature of this job, the proportion of women who are qualified that applied are probably a lot larger than the proportion of men who applied because there are a lot less bullshit applications from the female candidates. I don't have any facts and figures behind this, but one thing I can trust Goldman Sachs to do is put money first and I don't think they would but D&I bullshit above their bottom line. I think the reason they published this number is because they happen to have 50% qualified female candidates in this division and thought it would make a good headline.
Last time I looked around a trading floor or in technology, the men still out numbered the women at least 2 to 1 and I don't see that changing anytime soon no matter how much D&I rhetoric they try to stuff down your throat because women aren't as interested in those jobs and will legitimately not have as many qualified candidates.
I love how Goldman is trying to promote this whole diversity thing as their clients truly care what their organizational structure looks like when the harsh reality is that Goldman's clients couldn't give less of a dam what gender the team is filled with and care only about getting the job they were hired to do, done, and at the lowest possible price too.
Y'all will constantly rag on diversity recruiting but nepotism is accepted as a normal practice. Think critically for a few minutes about your thoughts.
I thought long and hard - what about Asian males? Pretty fucking difficult to break through when we get none of the nepotism advantages and none of these ridiculous diversity initiatives.
Oh and fyi the worst thing about these diversity recruiting things is that they're straight up shoved in your face - oh sorry you don't qualify for XYZ summit because you're not the right skin color/gender.
And while I've broken in, I genuinely feel bad when the final superdays are filled with plenty of hungry smart non-diversity candidates fighting tooth and nail for the final two spots because majority of the spots are already taken by "diversity". I've interviewed them all and there is an obvious discrepancy in the general aptitude.
I think that it is even worse for wite guys with no connections and no diversity opportunities: You can only opt to the "straight white guy" spots, which are filled by nepotic connections.
I am an Asian male. The final Superdays are for two spots because all the other spots have been filled up by the 4 other Superdays before, pretty intuitive.
Asian men don't get affirmative action or any preferences and are held to far higher standards for admissions and jobs. To white liberals, they are not part of the "oppressed minority" that needs special handouts.
Idiot... he said think.
It is not diversity kids that are taking asians kids spots.. It is rich nepotism kids you fucking idiot. 20 kids last year at GSIBDSA in london office had dads that were md/partners.
Secondly, stop acting like you need to be qualified for finance… This isn't engineering nor science. Lastly, the underlying assumption u are making is that females/diversity kids hired "aren't" as good as asian males...
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