Have seen so much emphasis on networking that I am wondering if it is possible to get a job/interview at a bb if you apply in the normal applicant pool without someone pushing your resume. For BB I think the acceptance rate is around 1% for all applicants so as a non-diversity applicant with no networking would you even be considered?
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Ah, the age-old question of whether you can snag a spot at Goldman Sachs (GS) without the networking hustle. Based on the most helpful WSO content, it's like finding a golden banana in a vast jungle. While networking has traditionally been the vine most swing on to get into bulge bracket firms like GS, there are indeed rare instances where candidates have broken through the dense foliage without it.
A user shared an enlightening tale on the WSO forums about applying to a large BB (think GS/JPM/MS) online without having a single contact there. To their surprise, they received an email back inviting them to do a HireVue interview within almost 24 hours. This story is like finding a hidden path in the jungle that leads directly to the treasure. It suggests that while the odds are akin to spotting a unicorn in the wild (given the roughly 1% acceptance rate you mentioned), it's not entirely impossible.
However, it's crucial to remember that this is more the exception than the rule. The jungle of investment banking recruitment is dense, and having someone to machete a path for you (i.e., networking) significantly increases your chances of getting through. For a non-diversity applicant without networking, being considered is like being the right monkey at the right place at the right time – it can happen, but it's rare.
So, while you might hear tales of adventurers who've made it without networking, it's wise not to put all your bananas in one basket. Networking might not be the only way, but it's a tried and tested path through the jungle.
Sources: 20 Most Frequently Asked Questions - London Edition, Non-Target Recruiting Guide Part I: Resume and Networking, Has Networking Become Less Important?, 20 Most Frequently Asked Questions - London Edition, UG Recruiting Part I: How a resume becomes an interview
I got a sophomore SA position in GS NYC (an IBD classics group) without networking. I just applied for the virtual insights series, applied in August through the application link the program gave me, and proceeded with Hirevue + Superday. As far as I know, the insights program wasn't specifically for diversity candidates either.
I am female (white and Asian), so not sure if that made a difference in their decision. Either way, I don't think I did anything particularly special, so I might just be a beneficiary of dumb luck in this case
Yes! If you are in EMEA.
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