GS Still Recruiting for IB this summer?
I'm a junior at a non-target but still decent business school. I was originally planning on trying to get an IB internship this summer but I found out I'd be graduating a semester late, so I decided to try for next summer instead. However, I just got an email confirming I received a phone interview at GS next week (applied a month back).
I guess I'm just a bit confused. I was under the impression that all positions would be filled for this summer. I'm even a bit more confused because I didn't network with anyone there yet, my GPA isn't spectacular (3.6ish), and I haven't had any other IB experience. My resume is decent, but I didn't think it would be enough to land an interview.
Anyone have any insight as to why they're recruiting so late?
They're most likely recruiting for IBD Financing. GS splits banking into IBD Classic which are the typical coverage groups and do M&A and IBD Financing which are what you'd call product groups and do mostly capital markets related activities.
As you can imagine, most people are gunning for IBD Classic rather than Financing and so GS has to work a little harder to fill those seats. However Financing is still considered GS IBD and an internship there will be highly regarded if you recruit FT. There's also the potential to move into IBD Classic for FT through internal mobility after the internship - LevFin and Structured Finance interns have had more success with this than ECM/DCM in the past.
Good luck!
Thanks. As someone that was counting on waiting til next summer, and hadn't had networked at GS at all, I was really surprised to get the call. I figured they would have been swamped with online apps.
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