how to succeed at goldman as a first year

To succeed as a first-year Financial Analyst in the PWM division at Goldman Sachs, here’s what you need to know based on the most helpful WSO content:

1. Start Strong and Build Relationships

• Meet Your Team: On your first day, focus on meeting people, especially senior analysts and those sitting around you. You’ll need their help frequently, so building rapport early is crucial.
• Be Proactive: Show initiative by asking how you can help and taking ownership of tasks. This demonstrates your eagerness to contribute.

2. Master the Basics

• Excel, PowerPoint, and PDFs: You’ll spend a lot of time working on these tools. While you’ll improve with practice, start sharpening your skills now if you can.
• Attention to Detail: Print out your work, highlight changes, and double-check for errors. This will help you avoid mistakes and build trust with your team.

3. Understand Your Role

• Tasks: Expect to handle trading and rebalancing (e.g., options, ETFs, mutual funds), client requests, meeting prep (portfolio reviews, asset allocation), and coordination between clients and specialty groups.
• Client Interaction: You’ll interact with high-profile clients, so professionalism and clear communication are key.

4. Be a Small Burden

• For the first three months, you’ll likely feel like a burden as you learn the ropes. Minimize this by:
  • Thinking through questions before asking.
  • Writing down everything you learn to avoid repeating questions.
  • Seeking feedback from associates or senior analysts to improve.

5. Absorb and Adapt

• Learn Quickly: The first few weeks will be overwhelming, but focus on absorbing as much as possible. Ask meaningful questions and take notes.
• Adapt to the Culture: Goldman’s PWM division emphasizes professionalism and delivering the firm to clients. Align yourself with these principles.

6. Time Management and Stress

• Stay Organized: Use tools like “Eat That Frog” for time management and prioritize tasks effectively.
• Health and Mindset: Prepare for long hours by maintaining a healthy routine and managing stress.

7. Leverage Your Position

• High Exposure: As a PWM analyst, you’ll interact with some of the world’s most impressive individuals. Use this opportunity to learn and make a strong impression.
• Exit Opportunities: While PWM has a stigma compared to IBD, analysts who demonstrate their capabilities often excel in traditional exit opportunities like GSAM, IBD, or family offices.

8. Office Politics

• Navigate office dynamics carefully. Befriend other analysts, avoid trouble, and focus on delivering high-quality work.

By following these steps, you’ll set yourself up for success and make a strong impression in your first year at Goldman Sachs PWM. Good luck!

Sources: Goldman Sachs PWM Financial Analyst, Investment Banking Analyst: 15 Things I Wish I Knew, How to turn a summer analyst role into full time offer, Advice From an Advisor to Senior Wall Streeters, What I Wish Every First Year Analyst Knew