Goldman Dallas office or IBD elsewhere?

I was accepted into the Discover Goldman Sachs regional camp in Dallas/Irving where you get an on-site first round interview, and I really want to aim for an investment banking summer internship.

So two questions: (1) It seems that Dallas may not even have an IB office? So far I've only read that Dallas has a strong PWM office.

(2): Would it be worth it to do there (if they don't have IB and I'm accepted) at Goldman or aim for an IB internship elsewhere?

Background: Sophomore at an Ivy, economics major but no prior finance internship. Interested in IB/PE.

 

You're at an Ivy target school that's been accepted into a GS special program for the summer and are asking if you're better off doing an IB internship instead at (most likely) a significantly less reputed, small bank instead? Think the choice is pretty obvious...

 
AllDay_028:

Goldman also has their Realty Management Division in Dallas. It's essentially the real estate Asset Management division that supports MBD/GSAM on real estate asset management decisions. Other than that it's PWM, Market Risk, Controllers, and Ops.

Is this Archon? A recruiter tried to set me up with them once a long time ago.

 
BankerC159:
AllDay_028:
Goldman also has their Realty Management Division in Dallas. It's essentially the real estate Asset Management division that supports MBD/GSAM on real estate asset management decisions. Other than that it's PWM, Market Risk, Controllers, and Ops.

Is this Archon? A recruiter tried to set me up with them once a long time ago.

Ya, Archon is basically run out of Dallas and Munich now.
 

Its not about the focus. In Goldman, they consider anything revenue producing apart of the revenue side. Yes, it is heavily focused on real estate. But its not limiting in any way. You are still doing investment banking. Its great to think about your exit ops, but most times plans change. ..it might be PE now, then later a RE developer...

Besides , M &A is slowing down.....

 

And you think the overbuild of multi-family, class a office space, and high-end shopping is going to carry on into perpetuity? We're all fucked pretty soon. Except the restructuring guys, they're licking their chops. Everyone young enough to be looking at an internship should be focused on exit ops and by that I mean the optionality of what your current choices set you up for. To your point...plans change. Better to have more potential career paths (in aggregate meaning internal and external) than fewer at a young age.

 
Best Response

So much misinformation here... OP, to answer your question, PWM is located in the Crescent in Downtown Dallas. It is FO, and pays well. Will it get you to IBD? I think your target undergrad has a better shot than PWM, but who knows? I think you'd be doing yourself a favor by doing an IBD internship, just to see if it's something you really want to do for FT. You might change your mind. Irving has a small IBD population. I know it is in originations (RE), and possibly Lev Fin. Irving has RMD, and a bunch of back office (ops, controllers, etc).

My advice would be to take the interview. It's practice for 'when it really counts', and a free trip to Dallas. I love Dallas, it's my home town, but it doesn't have a huge presence in IBD. It's really the place where people move back to for HF, PE and REPE.

Pm me if you'd like.

 

The 3 primary FO functions in the Irving office are the Specialty Lending Group part of Securities, REFG part of IBD, and RE Credit Investing part of MBD. Met analysts within each group and hours are pretty horrid. MBD is slightly better. I don't think they have a Lev Fin group. RMD is also technically not a FO function, they are essentially a back office for MBD and they went to Federation Summer Training instead of Revenue training. The biggest groups are Ops, Tech and Controllers/Investment Accounting/Tax.

 

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