Heard from multiple friends that GS pulls quite a few people from the London IBD SA into coverage teams located in European regional offices (FIG and C&R in Paris, TMT in Munich, and IND in Frankfurt).
Can anybody give some insights how likely it is to receive the return only to a regional office and whether you can still recruit to London from a regional office, especially compared to a non-GS/MS/JPM BB.
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Based on the most helpful WSO content, Goldman Sachs does have a history of moving interns and analysts between its London IBD and regional European offices, such as Paris (FIG and C&R), Munich (TMT), and Frankfurt (IND). Here are some insights:
Likelihood of Return Offers to Regional Offices:
It is not uncommon for GS to place interns into regional offices post-internship, especially if there is a specific need in those locations. This can depend on the group's staffing needs and your performance during the internship. Regional offices often focus on specific sectors, so placement might align with your demonstrated interest or expertise in those areas.
Recruiting Back to London from Regional Offices:
While it is possible to transition back to London from a regional office, it may require additional effort. Networking within the firm and demonstrating strong performance in your regional role can help facilitate such a move. However, being in a regional office might limit your immediate exposure to the London market compared to starting directly in London.
Comparison to Non-GS/MS/JPM BBs:
Compared to other non-top-tier BBs, GS's brand and internal mobility options are generally stronger. Even if you start in a regional office, the GS name carries significant weight, and the firm's internal transfer opportunities are often better structured than at other banks.
If your goal is to remain in London, it’s worth discussing this preference during the internship or with HR, but flexibility might be necessary depending on the firm's needs.
Sources: Current IBankers: What would you do if a summer candidate reneged another offer to sign with your firm?, Q&A: GS/MS IB Analyst —> Megafund PE Associate —> HBS/GSB Business School, Non US/Europe IB/PE Overview, Return to BAML for junior SA offer or accept GS offer?, Q&A: GS/MS IB Analyst —> Megafund PE Associate —> HBS/GSB Business School
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