How difficult is the internal move from Goldman Sachs Asset Management (in particular fixed income investment strategies) to IBD? Thinking of summer analyst in GSAM to full time in IBD - is that possible? And would you take an internship at GSAM over one at a MM investment bank (if your eventual goal was banking)?
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I doubt you'll have trouble getting your foot in the door and if you crush the interviews no doubt you'll end up at a BB/EB. MM IBD vs. GSAM is a tough one and I think it depends on how badly you want to be in IB. Are you willing to give up brand name for it?
Why do you want to leave GSAM Fixed Income ISG? Thats a solid group w/ an actual investments role from UG. Unless your dead set on IB > AM, I'm sure you could def move to another bank. GS says they're internal transfer is pretty easy, but everyone says that. Someone I know did S&T to IB after a year, but really not sure how common that is. But GSAM FI-ISG is really a solid group in my eyes.
You want to leave GSAM FI-ISG... Please give me the job then, I'll take that role ANY DAYYY
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true, I've heard similar things. I've also heard that you have to be very careful in the way you go about it. It should be done through an informal process where you can informally express interest in an IB group by networking internally, with out filling a transfer application, which is a death sentence.
I have a friend from school who did exactly this. GSAM summer analyst to full time GS IBD. Granted, he was a diversity candidate which may have helped significantly.
I was dead set on IB career (at least for 10 or 15 years) until everyone told me I'm nuts. Asset management just seems a bit dreary to me in that it's not transactional, though perhaps I'm wrong.
It's not really a question of leaving GSAM but comparing it to the MM offer at this point (which I would have to renege by the way as I'd already accepted).
If you're 20/21, you've been dead set on IB since at least 10/11 or 5/6? Ya, you are fucking nuts.
Lol no dude I meant my intention was to stay in IB for about 10 - 15 years
Well if you've already accepted the MM offer and you've been dead set on IB, then take it. Don't take GSAM just because its GS but you don't like AM. If you truly want IB, I'm sure you'll be more successful in the IB role. They're two different skillsets and career paths. If you have second thoughts, just network into an AM after two years of IB.
Second this, not only is it quite different skillsets (public markets vs M&A), but the culture is also very different based on the people I've met in the two different industries.
also way easier to move IB -> AM in a couple years than it is to do the reverse
I'd like to bump this. I ended up getting an offer from GS AIMS (alternative investment management) group just recently. MM IB offer still in hand from several months ago. Should I renege?
How is internal mobility at GS if I want to move from AIMS to IB after a summer/1 year?
I'm leaning against it because I just don't want to do asset management but then it is Goldman...
I would take the SA offer at GS and then start networking with IB relatively early (around week 3). I would start sending emails to Alumni of your university first and then to analysts/associates of the groups you are interested in. Everyone is willing to meet for a coffee. And if the person likes you, you might receive an invitation for another coffee from a different team member. If successful, this process repeats until you met the whole team/receive a FT offer.
Typically, middle market IB would be more ideal than asset management (if you're at a strong performing firm and placed in a good group), especially given that you eventually want to move into IB for full time.
However, GSAM is probably the only exception where you'd be fine staying and lateraling up into GS IB or into another good IB firm, and considering you have a 3.9 from an Ivy, you're probably in a very strong position to do so. Definitely network during your internship, and best of luck!
I'd like to add from personal experience that I transitioned from a SA position in GSAM to IB FT at another firm. However, Internal mobility within GS is a VERY competitive process and making a transition from AM to IBD internally is extremely rare, especially from a FT perspective. In your case, you have to look into whether you're willing to give up the name recognition for the experience up front and how either will position you for FT recruiting. It's all about opportunity costs and what you personally value most.. Hope everything works out!
Thanks everyone. I don't think I'm going to risk it with GSAM. Never wanted to do AM and I don't want to renege and burn bridges to do something that I'm not excited about.
If you really want to do banking, 1. you will change your mind 6 months in and 2. go for it. If you go the GSAM route, you will have to wait a minimum 18 months to do mobility (I work at GS IB), and when you do mobility you essentially start over unless you can negotiate better than Donald Trump himself. So waiting 18 months for that slim chance to do mobility (slim because EVERYBODY tries to transfer to IBD) is not a great route. Honestly GSAM sounds like a chill gig, they work normal hours, but if you are set on banking don't do GSAM 100%
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