How is Goldman's Natural Resources group seen in New York compared to other groups both at the firm and at other BBs/EBs on the street? What are the exit ops like for someone in NY and is there a risk of being pigeonholed into the Natural Resources space? Thanks.
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I’ve heard the credit/distressed/special sits exits can be pretty sick, not sure if that is strictly in natural resources. But I guess a lot of the opportunities there are in natural resources. Like Centerbridge, GSO, BX Tac Opps etc
Any idea how they stack up to other groups at GS in terms of exit ops?
bump
I’ve heard from analysts that GS Natural Resources has one of the best work life balances in the bank,
GS NR in Houston has one of the worst cultures out of all banks in the city. Not sure about NY though, just wanted to put that one out there.
What makes their culture worse than others down there?
I second this, have had friends in 2-3 of their past analyst classes and all of them have echoed this sentiment!
Recommend other groups and especially boutiques when it comes to Houston and energy banking. Goldman Houston has a rep for terrible culture and hours.
Someone must have been trolling you...
With that said the exits are good if you are a strong analyst in the group, as you get a very technical experience given its NR and you have the GS brand
Bump - any insight on GS NR NY exit opps?
Bump also interested
Bunp
GS NR analyst here - as far as exit ops go compared to other groups at GS, it is very similar to energy groups at other banks whereas most people go to top Infra funds or MM P/E, a bit harder to go to top tech or consumer focused funds as your competition within GS is much better equipped. I haven't seen a lot of analysts land in Mega-Fund roles unless it is within their Infra/Energy sectors, so the pigeon-hole effect is real and the primary way to avoid it is be willing to go to a smaller fund (MM) in a generalist role where they are more likely to overlook the NR title. As far as the lifestyle goes, I will confirm Houston (oil/gas) is at the top of the sweatshop list, but NY (chemicals, power, mining) is right in line with other Classic groups at GS, maybe a bit better hours.
Do you guys ever work with the Houston team on any oil and gas deals, or do you only do chemicals, power, and mining in NY?
NY has a small Midstream presence, so that team works with its Houston counterparts a bit, but 95% of the time they are completely separate
Are those exit ops from Houston or NY?
Both, although NY has better ops due to the location bias and your experience is much more diversified. I believe approx. 1-2 analysts per class in NY are able to land Mega or Upper-MM P/E roles outside of Infra/Energy, whereas in Houston I haven't heard of any landing those roles yet
bump. would be really interested to hear about PE exits last couple of years from GS NR NY.
Morgan Stanley and Barclays p&u are tops in the street
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