Goldman Sachs is perpetually sucked off as the proverbial Mount Olympus of banking. While other banks can never tell if a deal will really add value, just like the gods, Goldman Sachs transcends all limits creating value out of thin air. It's front office is supposedly an elite force of superhuman high achievers who have transformed banking from a mere "science" into a heroic art, but how good is the typical analyst really? Specifically in terms of Academic Achievements, Work Experience (prior to landing their GS gig) and Extra-curricular crap (or anything else that puts them above the rest).
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Who Taught You The Rules Of Capitalization?
I smell someone from the back office...
Quite good.
Well, at least my friends are GS are very solid in my opinion.
I know a less than stellar individual who made it there because hes a schmoozing minority... no FT offer, i assume... he claimed he got an offer for a shitty group so he supposedly turned it down.... ended up in baltimore though, so im pretty sure hes a liar
GS analysts are about the same as analysts anywhere else.
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They make PowerPoint slides just as well as anyone else. Stop making it seem as though you have to be a GOD to work at Goldman.
I'm pretty sure he's asking the question for the sake of disproving that exact line of thought.
Goldman has lost its luster try JP Morgan as being the next IB Power house of the world, It all goes in cycles.
Although im not in the industry, I am also curious to know why Goldman is given so much credit. I wouldnt think there is much of a difference between a 22 year old analyst at GS, MS or JPM. I think its more of a "Corporate Culture" thing as to why certain personalities end up at certain companies. An analyst at GS does the same exact thing as an analyst at any other bank. These comp is also very similar, so why do people sweat Goldman?? The only advantage GS may have is becoming Partner but what are the chances? I would rather take a job at a lesser competitive work environment where my chances of becoming MD one day would be greater.
Yes, they may have people who graduated Harvard with a 4.0 more so than say UBS but we all know there is more to business and the real world than just 'paper' qualifications.
As far as Trading, im sure there are high school grads who can do it if they know and understand the game, I dont think that involves much 'academic ability' unless your trading some complicated exotic stuff.
Cause it has the word "Gold" in the company name.
GS is like the the Google of internet/software, or the Apple of electronics. The people perhaps aren't that amazing, but the cache of the firm transforms it into this monumental tribute to greatness. My 2 cents worth anyways...
-N.
Analysts across BB are usually pretty extraordinary, where you end up is pretty much luck of the draw - you follow a basic formula and put in the effort and hope you make it, if you don't land at GS then hopefully you will make it to another reputable shop - if one variable is changed, such as an interview that went a little different, you may find yourself in a different situation, one of the smartest and most talented people from my class ended up at Bar Cap and didn't get into GS....
But arent GS interviews also the most gruelling? I've read accounts on here about people having 5 back to back interviews in one day, and being interviewed by people from multiple groups, so you have to impress not just the guys in the group you want but people from groups that may be unrelated.
Depends, GS interviews can be heavily fit or heavily technical depending on who you get. And I had 7 back-to-back with MS. It's safe to say that most top shops will make sure a good subset of colleagues interview you before they extend an offer
I hate to be the the one to break it to you, but, Goldman IB interviews are nothing special in terms of difficulty. I had about 10 back-to-back interviews mixed between multiple IBD groups at all of my full-time superday final rounds for bulge bracket IBD, not including GS. Goldman's interviews aren't any harder than the other BB's, so stop making it seem like they are KKR or the State Department.
hmm as to why most pple wanna go to GS, i guess its for the brand name,
its like why go to harvard or blah blah
why get a lambo when most car enthus know that a porsche is better than cheaper etc etc...
But I agree with the rest as different companies have different culture which may make u the next Fabulous Fab or Mack the Knife or Stephen Schwarzman
The better question should be are GS analysts as good as they think they are. You are working with excel and powerpoint. Outside of individual geniuses and morons I am pretty confident that banking analysts across the board are about the same.
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At my target, the caliber of people who went to GS, MS, or JPM was pretty similar across the board. What I have noticed is that the people who guys who GS hired tended to be more conservative socially (MS definitely hired more bros) and the girls tended to be very attractive in addition to well qualified.
It's all the same (less the above post is true). There are sad exceptions to the rule of the smartest going to the best firms, or even top MM firms.
I go to Wharton. My buddy went to a Lehigh, Vanderbilt, etc. because he needed to take care of someone in his family who was very sick who attended such a college. He traveled back and fourth from school to home (4.5 hour commute) twice a week = 4 trips. He did terribly the first two years of school and the last two years he did alright 3.5 gpa ish. His cum was a 3.25.
I did mock interviews with him and he was by far more intelligent and business savy than 90% of the kids at my school, and friends from other top ivys. He didn't land one BB interview, and works at a small MM shop. He is conservative as hell and has the most banker look you could imagine. Christ, the kid had the loafers 3 years ago -- tisk tisk--
Anyway the point being, even those at no name shops should be Goldmanites.
I want to quote this post because it vividly encapsulates a wonderful point. Just because someone did not go to a top school does not mean they are a fool. It is a fact of life that people from T10 schools are going to get more interviews and chances, but that has nothing to do with the talent outside of these schools.
With that said, different cultures are a different fit for each person. JPM/GS/BAC etc all have very different people and operating environments. At that level it isn't so much about intelligence or competence, but more about fit and personality.
On that note: does anyone have any ideas how he can get to a BB or at least a top MM firm.
If they are a GS trader, they are badass. you know they are making bank.
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