GS should remain the top choice for all undergrads interested in finance
Tell yourself all you what GS isn't what it is used to be, if that helps you sleep at night. Just look at the headlines any day of the week and you'll see it dominating the ranks. Goldman Sachs is the Harvard of Wall Street, and Global Platinum Securities kids choosing to go to PJT RSSG for marginally better exits or WITG Hardos going with CVP for catered lunches and a gym with "Centerview Partners" engraved onto the dumbbells isn't going to change that. GS alums dominate the corporate world and its one of the only banks where every level of seniority can exit to wonderful opportunities. Not sure why, but a lot of the top alternative investment firms like to have ex-GS guys at the helm, even if they previously didn't have a day of buyside experience. Go read Money and Power: How Goldman Sachs Came to Rule the World if you're in denial.
Based on the highest ranked content on WSO, Goldman Sachs (GS) is still considered one of the most prestigious firms in the finance industry. Here are some key points:
For more insights, you might want to check out the book "Money and Power: How Goldman Sachs Came to Rule the World."
Sources: Is Goldman Sachs Still a Bulge Bracket?, FT: Goldman WRANGLES over whether to pay juniors higher salaries, Recruitment Set Back To "Normal", Why does everyone want to work at a top bank?, Undergrad choice: Columbia, Duke, Dartmouth, Cornell
Case in point — Jim Esposito was hours ago named as President of Citadel Securities
Also Beth Hammack has been named Cleveland Fed President 2 or 3 days ago.
You are the truth
I heard CVP dumbbells only go up to 100 lmao.
Delete
I don’t think anyone has ever denied this.
Plenty of posts where kids are asking whether they should go to GS TMT or PJT (whack) and hardos invariable comment PJT because same exit options but better culture
Thank you Goldman Associate for such an insightful post.
That’s good isn’t it? For the person to put their money where their mouth is?
Isn’t Goldman known for its toxic culture ????
You’re probably right. That being said, I’m at a reputable boutique and I love not having to deal with toxic people/politics, working on almost 100% live deal work, and having perks without HR breathing down my neck. Also, as someone who is 100% planning on exiting to the buy side, headhunters and firms love my experience. If I was going to be a career banker, it could’ve been a different story, but for me, I’m glad I signed where I did before my Goldman superday back in college (which by the way, all the top kids were signed before Goldman recruited).
I’m sure GS analysts get the same looks from headhunters. You make a fair point about how GS used to recruit way after the top boutiques, so may have gotten lower quality candidates, which probably explains the difference in exits
lol what's so prestigious about Global Platinum Securities?
They place really well into RX / RSSG groups
imo the kids in GPS place well into RX because they already have an interest in RX already and not bc of GPS itself--you can prob say that about every school investment club/fund though
Most undergrads who sign CVP/PJT RSSG over Goldman don't do so believing that CVP/PJT is superior for exits or "prestige". Of course GS is the Harvard of Wall Street there is no denying that, and solely for career prospects GS is most likely the single best firm you can start out of undergrad. However, kids take CVP/PJT for relatively similar exits in hopes of better culture. Banking is still banking and the culture at CVP/PJT is not easy either, but it for sure must be better than the horror stories at BBs like the BofA FIG Associate last month - Not denying that GS is top. Sincerely, someone at CVP/PJT.
Just curious, how is the culture at top EBs different from BBs? Does the smaller teams actually make a difference? Is there more entrepreneurial spirit? You seem very thoughtful so would like to hear your reflections
More tight knit and office has focus on IB vs a huge office with tons of analysts and a bunch of different divisions
Yeah this. Post is using senior level exit opps as an argument. This is completely irrelevant if you're a college kid who knows they want to exit to buyside and wants a more enjoyable analyst experience with more responsibility and more money.
Also per capita exits at groups like PJT RSSG is better than GS.
The exit opps are better. That’s why they go. If you go to Wharton for undergrad, then I’d rather take the RX kid over the GS kid 9/10 times. Other schools are more mixed, but the best Wharton kids get PJT
lmao does this make you feel better about your shitty salary? Aside from maybe TMT, the talent at GS sucks nowadays. All the top kids take EVR/CVP/PJT (probably even MOE/PWP for the salary) over offers from GS. Better pay, culture, more talent at those shops. If this was 10-15 years ago, then you'd be correct, but GS has fallen. The future isn't going to be dominated by GS alums like it once was....
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The working hours never get better.
Congrats on GS diversity offer!
JP Morgan taking its spot, DJ sol and GFC tanked GS reputation
Yea - Goldman is unique in that it's the only investment bank where you can lateral out at any level and get great exits / interesting opportunities.
Their leadership is always tapped for leadership at other firms too (even ones where we would consider it a step up from GS, IE some PE firm).
Picking some EB's Rx group > GS to me is like the hardos taking Wharton over Harvard UG. Sure, in some respects it may be better, but I feel in 20 years that will be subject to change. Harvard will always be Harvard. GS will always be GS though.
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