Goldman FICC FX Structuring Strats
I got an email this morning saying I was selected for an interview with Goldman FICC FX Structuring Strats. I don't know how I got selected as I never applied for such a position, but since it's still GS and I don't have a job lined up yet obviously this is something worth pursuing.
My question then is what exactly does this group do?
I tried looking at the GS site, but their securities division is broken up into more specific desks and I can't find anything called 'structured strats.'
Is this a trading role or more of research/analytics?
How should I prepare for such an interview? (both for this first phone round and going into the future assuming I get through that.
Thanks in advance
Strats Structuring is generally a very complicated area of structuring. I believe it is structuring algorithms (the strategies being the algorithms) to take advantage of market situations. Something like this...
http://www.google.com/#sclient=psy&HL=en&q=UBS+carry+trade+strategy&aq=f&aqi=&aql=&oq=&pbx=1&bav=on.2,or.r_gc.r_pw.&fp=40c8a906aa80097c
Go down to third result, this is what you would be working with
pardon op for i dont mean to crash your topic but awm55 are you in fx desk for i want to throw fx forward contract question your way. Do let me know please. Thanks
i work on a structured rates desk
What do you want to know?
This might be pretty obvious but people in structuring/strats roles all come from very quant backgrounds e.g. Ph.D/M.S. in Physics, CS, (at least at GS, but I'd expect the same at other places) since that's what the role demands. So I'd expect a fairly quantitative interview... Sorry if that's not much help.
This really is not true. No amount of schooling will prepare you to be a macro structurer. I know plenty of structurers with econ backgrounds. Strats is definitely more quant than macro structuring, I will give you that.
haha thanks for the correction, understand that was probably a gross over-generalization. Just speaking from what I've seen, obviously very limited, but no one else was offering any input...
Hi awn55, I'm doing econ masters specialising in international finance and time series analysis. What are my chances of making it onto an FX structuring desk with this kind of background? Thanks in advance
Thanks, very encouraging!
GS FICC Derivatives (financing group), please help (Originally Posted: 11/04/2010)
Anyone what this team do exactly? and how they are as a team? heard its the biggest IBD revenue generator for GS in the past few years.
Is it just DCM plus a bit more commodity risk and FX risk hedging etc? exit opps? think the hours are better than an industry team
bump...
Goldman Sach's FICC Program (Originally Posted: 01/09/2008)
Hey everyone. Just wanted to get some info on Goldman Sach's FICC (Fixed Income, Currency, Commodity) analyst program. I am more interested in corporate finance/IBD type positions for the summer, but this is the only position that they posted at my school. Just wondering if it would be possible to move into their IBD division afterwards. Any info would be greatly appreciated. Thanks.
Not familiar with it personally. I have a good friend who works in GS credit and speaks very highly of the FICC program. Also know someone from my college who is starting FT in FICC after she graduates. I know it must be a top notch program, because she has 3 internships all at GS, the last one in S&T. She is incredibly bright and her mentor is in PE at GS.
but again, no personal knowledge. Just sharing anything I know about it.
did you go to a target or non-target?
non-target
:(
a good amount of pp on this site are from non-targets
Great program from discussion with friends. Of course, your experience is highly dependent upon the desk you get placed on. If you join FICC for the summer, my advice is to express your interest in IBD and try to set up shadowing days with the bankers. Then try to either spend an extra week in IBD after your FICC internship ends or set up an interview for FT before you leave NYC.
Goldman Sachs FICC Fundamental Strats summer internship Undergrad (Originally Posted: 01/18/2014)
Hey everyone, hope you're all well. Basically this year I applied for an internship within Securities for S&T. The other day I got an email from Goldman Sachs saying that I was invited for a summer internship within Strats (even though I didn't apply for it). I found out that they liked my CV so wanted to interview me.
I'm not sure what they found on my CV that appealed to them as it doesn't have a lot of Quantitative Finance stuff, mostly it's my degree which is numerical I suppose. But my CV doesn't scream quant. I mentioned Matlab but made a point saying Basic in my CV as I only know a little amount through studies.
I'm not sure what my interview would entail now as I haven't even touched topics like Stochastic Calculus. I do understand I should do some research into these things but would they expect me to know quite a bit at my position? I guess they tend to ask a lot of brainteasers to do with maths and probability.
Can someone shed a bit of light on this and tell me what my approach should be here. Would really appreciate it! would they expect me to know quite a bit at my position i.e. undergrad?
Thanks
what's your background in math and statistics?
I'm studying Statistics with Finance. I'm yet to cover the advanced quant finance stuff like Stochastic calculus later this term, ito's lemma etc. I've done risk models though and done a bit of Matlab
Somebody please help!
Hello Sportycricketer, I am exactly in the same situation, I am currently doing a master of mathematics at warwick university and I have applied for a summer internship at GS for the securities division, and I received an email for a first round interview for a quant/strats summer internship, so I wanted to know how you deal with this and how goes your interview and everything regarding this, because it was not your first choice of position.
Thank you very much for your help !! best regards, Stephano
Goldman FICC (Originally Posted: 05/02/2007)
What is the start date for Class of '07?
Wouldn't your HR contact be a better person to ask?
seriously...maybe try reading your offer letter
silly rabbit
Goldman Sachs FICC (Originally Posted: 10/18/2010)
Is the commodity unit in GS FICC the same thing as J.Aron or is J.Aron a separate unit all on its own?
J. Aron is the commodities/energy trading arm of Goldman Sachs
GS FICC Associate comp (Originally Posted: 05/24/2014)
Can anybody enlighten me on the current/most recent base salary and bonus progression for fresh securities div associates? Assume lateral or direct promote with current 90 base, is it 100 in the summer and 120 in January like is typical in banking? Bonus obviously varies but would be nice to know the range and cash/stock composition if anybody knows.
Thanks
Depends on desk and individual performance.... $100k to $150k base for a 1st year associate is realistic with Trading > Sales > Research.... Bonus can be anything really.... but $150k to $300k is the range for a performing associate.
Does GS FICC recruit at b-schools?
No, associate biz model has changed at GS FICC. Most come through laterals and vets.
Same with JPM S&T associates from what they told me - no direct b-school recruiting.
Goldman Sachs FICC Week (Originally Posted: 06/25/2007)
Does anyone know how/what students are selected for the GS Sophomore FICC internship week over Spring break?
How selective is it?
What do you learn?
How is performance measured?
Thanks, +Hammy
More details on this program and application process please
I didn't apply to this program but now wish I had. Know someone who did it, intense program but you learn a lot (classes, group projects, job shadows).
If you do well you get an offer to come back as SA. I think they took 2 kids from my school? No idea how many applied, but I imagine it's extremely selective.
How do they measure your performance - "If you do well..."
Do you take tests on the material you learned? Is there practical application? Is it all "fit"?
performance - mainly fit and how well you do on the projects. don't recall any mention of tests.
clarification - GS took 2 ppl from my school to do the program, but don't know if either got offers or not.
just curious, did those 2 people have competitive stats, and do you go to a target school?
Exit Opps for GS FICC, Equity IB Strategies (Originally Posted: 09/18/2007)
Does anyone know about this? An entry-level position for this appeared on my school website. It seems very math- and programming-based, which seems cool because I'm a math and econ major, and I've done C++ programming. Does anyone know anything about this position? What are the exit opps and what is the workload/pay?
my friend interned on this desk and is now at a middle market bank in chicago
GS FICC (Originally Posted: 02/15/2007)
hi,
I know they're good with commodities, what else? Also i gather the Special Situations Group is prop trading related? Seems like the Distressed Investing Group too.
http://www2.goldmansachs.com/careers/inside_goldman_sachs/business_snap…
they're good in most things.
As jimbo said, they're good at pretty much everything.
GS Equities or FICC? (Originally Posted: 01/24/2012)
I have a Super at GS. Which group is harder to get into? Fixed income or Equities?
get the offers first chump.
^ agree with the above. If you get an offer and you're in the rotational program then you'll have the chance to rotate onto desks within both FICC and Equities. In my SA class, most people in the rotational program wanted to be in FICC in like commodities or rates but equities has some sick desks too.
Goldman FICC Finance (Originally Posted: 11/14/2007)
Goldman lists Sales, Trading, and Finance under the FICC division. What does the finance area do? It is structuring?
correct me if i'm wrong but I thought FICC stood for Fixed income, commodities and currency...so yes it will involve sales, trading and finance but I think finance refers to product control?
Fight, they are going to be doing all three things for each asset class, but I am just looking for some clarification as to what the finance people do. I trying to decide if I should apply for the Sales and Trading Rotational program or the Finance/Investing Placed Program. Both are in the Securities division.
That group is similar to a Capital Markets Group....more banking than S&T
That group is similar to a Capital Markets Group....more banking than S&T
Goldmans Equity & FICC super day - summer internship (Originally Posted: 01/31/2007)
Hello,
I finished the first round, managed to do it succesfully. Now they invited me to Super Round, London.
How Technical is going to get. I have literally no knowledge of Finance, since i come from engineering background. ANY Advice would be good.
Thanks
i also have an engineering bg and have been told repeatedly that they won't ask you technical/fin/accy stuff unless there's something on your resume to indicate you should know it. (my first bb superday is friday so take it with a grain of salt, this is just what i've heard)
however, i imagine it would probably be good to know the basics (which i've been cramming). e.g. how to run dcf and comparable valuations, basic outline of income statement, balance sheet, and cash flow, how bonds are priced.
Besides the normal vault/wetfeet guides I've found corporate finance: A Focused Approach by Ehrhardt and Brigham to be insightful. It's fairly quantitative, comprehensive, and concise (well, concise relatively speaking ... it's around 650 pgs, but it contains as much material as like 3 other normal books). And, best of all, you can dl it from a lot of torrent sites online
gl
How to get into GS FICC Trading? (Originally Posted: 12/05/2006)
Anybody from GS FICC? Any tips on coursework, extracurricular activities and preparation for interviews?
The responses that you will get on this forum are likely to be entirely incorrect. You will probably hear responses like "be a math genuis," or be the #1 student at H/Y/S. The reality is that you should definitely have a good math background, and go to a decent school. But most importantly, you should mesh with your interviewers, have knowledge of the economy, have substantiated opinions as to wherer you think the economy is headed, etc. Just my .02. Alot of the people on this board post utter crap, so I think this will be a welcome change.
Sorry, didnt mean to leave out Princeton and MIT. Those were definitely well represented when i was interning. If I remember correctly, the IR Derivatives desk at JPM is ALL MIT-with one wharton grad. Even the desk MD's are MIT.
Math, math, and some econ. Mostly math. Know the Greeks and the basic options models inside and out.
I have a good friend that worked on GS-ficc desk in chicago last summer. Three interns total. 2 from northwestern and one from UI. Economics and finance majors. All very smart and good feel for market. I know for him it was all having a global marco view and being able to support it. He got to sit on a few different desks in chicago and ny.
uiniversity of illinois? what were there approx gpas if you have them? just curious about how it works in s&t. people say you can have a lower gpa so maybe it is mostly in the interviews, how to answer global market and quant qs.
He has a 3.95 and other two had 3.7 and 3.6.
fyi.... none were hired to come back
Goldman Sachs FICC/Equities Sophomore Rotational Interview (Originally Posted: 01/23/2008)
Just got notified that I got invited for a first round interview. Has anyone had an experience with interviews for this position? What types of questions will I get?
I know these questions have circulated throughout the boards, but this is my first ibanking person-to-person interview (had JPMorgan honors phone interview last year), and it's very exciting for me.
Are you at an Ivey school?
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