Goldman Sachs Corporate Derivatives

There hasn't been any recent discussion on Goldman's corporate derivatives group. According to the new CEO, "the firm is particularly pursuing revenues in corporate derivatives. It currently ranks fourth in this market, and therefore has an opportunity to grow".

From reading online, the corporate derivatives group sits in the Financing Arm of the Investment Banking Division, but appears to be more of a hybrid between IB & S&T. Does anyone have any up-to-date insight onto job responsibilities/overall quality of experience/exit ops in relation to more traditional IB routes, especially at the analyst/junior banker level (e.g. compared to Classic banking or even LevFin in the financing group)?

 

Hey laflame2017, I'm the WSO Monkey Bot and I am sad to say, but this thread is lonely, so thought I'd post in here to try and help out. Some potential topics that might help:

  • Goldman Sachs Equity Derivatives Internship Hey guys, got an email from a guy at GS today asking me if I would be available for an internship ... equity derivatives. I am currently doing an internship in cash and derivatives sales trading but ... haven't spent that much time with the derivatives guys since they've been going through ...
  • Goldman Sachs Finance Division commodities, funding products, listed derivatives, currencies Investment Banking gs Goldman Sachs finance ... Okay, give it to me straight. What are the pros and cons of working for GS Finance as a Credit ... relative position to BB IB and others, and other considerations. FYI, this job is in Salt Lake City (GS is ...
  • Goldman Sachs SLC IBD Overview Over the past few years I have noticed a notable amount of misinformation related to the GS SLC ... appear regardless. Anyways- here we go! Overview The GS SLC IBD program is a collection of IBD analyst ... positions located in SLC, with spots in all of the classic and financing groups in GS IBD (TMT, FIG, ...
  • Derivative Sales (Goldman) *A few innocent questions* I was at a career fair at my uni yesterday, and had a really good conversation with a Derivate ... at my interests and when she realized I am writing a thesis on derivatives she told me she was ... any info you might have on that particular position. I know how Goldman's culture is for M&A, ...
  • GS vs CS in asia vs US. Goldman Sachs ...
  • Quant: 2B HF vs Sales&Trading at Goldman Sachs Sales&Trading department at Goldman Sachs (NYC), the position is regarding HFT. I got the interview directly ... I graduated with a math phd one year ago, after graduation I worked as a derivative pricing quant ... at a 2B+ AUM hedge fund at Chicago. Now My friend at GS refer me to a associate-level position at ...
  • Goldman Sachs- Interview- 2nd Year Analyst PIPG Eq. Derivatives My girlfriend has just received an interview for the PIPG equity derivatives team of Goldman Sachs ... in London, after working slightly more than a year at the Interest Rate Derivatives desk for one of ... interest rates (with limited exposure to equity derivatives) and somewhat limited prep time (1 week)? ...
  • Goldman sachs Credit Risk CRMA I'm a recruiter with Goldman Sachs and I'm currently working on a role within Credit Risk and ... I just want to start out by saying this is not the first time I'm contacted by a GS recruiter ... departments to approve derivatives and loan business and ensure appropriate documentation, limits and risk ...
  • More suggestions...

I hope those threads give you a bit more insight.

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 
Most Helpful

Ok so seems like 4 people within the last year got internship offers to join Eric Jordan and the corporate derivatives team, nowadays combined into IGCMRM.

unless you really like interest rate swaps and cross currency swaps, don’t pick this place to intern. It’s really just a swaps marketing desk that sits on the banking side because it works with corporates (instead of funds). the group is super lucrative because they can charge insane spreads for each deal because corporates really don’t know any better. but from an intellectual perspective it’s lacking. there are some really smart people in the group though that work to create new derivative products to pitch corporates to fit some niche needs. as a result, there are zero exit opps from this seat. I’ve heard of one person going to Bridgewater, so I guess technically you could go to a macro fund since that’s the only place rates/derivatives are probably valued. most people leave for different groups after 2 years and the few who stay become MDs pretty quick (9-10 years from undergrad). there was a woman who became a partner from analyst within 12 years.

if you want to know more tell me and I can PM you. I used to work in that group.

 

Thanks for perspective. Can you speak on comp and hours at the analyst level more specifically? Why did you feel this group was intellectually "lacking"?

 

comp is similar to classic IBD comp. more or less the same with buckets etc. you’re not getting more or less than your peers in any of the other GS groups. the hours are around 7:30-8am start time to 8-11pm. some of the groups like the ones in FIG risk management are chiller in hours and depending on which VP you work for it could be earlier or later. generally you leave by 9 consistently I would say on average but again varies by the VP you work for (so in this group you get assigned to a coverage group and usually work under 1-2 VPs or MDs, not with the whole group - there’s no staffer or anything).

literally 95% of the job is pitching 2 products to every company in your coverage space. just like classic banking, but the difference is you don’t need to know anything about the company. you pitch the exact same product to Apple as you do to Exxon mobil. you don’t learn about different companies or any strategic rationale etc. if you’ve been through the interview process you’ll get a good sense of what they do, but it’s the equivalent of a interest rate swaps sales and trading desk.

^ and I guess that’s just a personal thing for me that I don’t think it’s as intellectually exciting. it’s like, pitch execute trade, rinse and repeat. so...yeah. but then again I also don’t think classic banking is intellectually exciting (still much more so than this role since you actually learn about different companies and the industry). just depends on what you want I guess

 

Hi,

I recently received an invite for a superday with this group within the next week. To be frank, I don’t know much about it besides what you’ve generously written here. I’d love to learn more perhaps over some PMs or a call if you have the availability.

Hoping to chat soon,

Best,

A fellow monkey

 

Associate 2 in HF - Other:

Ok so seems like 4 people within the last year got internship offers to join Eric Jordan and the corporate derivatives team, nowadays combined into IGCMRM.

unless you really like interest rate swaps and cross currency swaps, don’t pick this place to intern. It’s really just a swaps marketing desk that sits on the banking side because it works with corporates (instead of funds). the group is super lucrative because they can charge insane spreads for each deal because corporates really don’t know any better. but from an intellectual perspective it’s lacking. there are some really smart people in the group though that work to create new derivative products to pitch corporates to fit some niche needs. as a result, there are zero exit opps from this seat. I’ve heard of one person going to Bridgewater, so I guess technically you could go to a macro fund since that’s the only place rates/derivatives are probably valued. most people leave for different groups after 2 years and the few who stay become MDs pretty quick (9-10 years from undergrad). there was a woman who became a partner from analyst within 12 years.

if you want to know more tell me and I can PM you. I used to work in that group.

Responding a few years later, if you’re still active would love a PM on this desk. Thanks

 

hey, i saw your post on goldman derivative group. i am interviewing for financing group as a whole but wanted to get a high-level idea of what you guys do just for my own understanding and how it connects to other financing groups at goldman (besides the fact that they work w levfi and investment grade)

 

Numquam maxime corporis nulla eos autem corporis vel. Non consequatur adipisci tempora necessitatibus. Itaque aut omnis porro placeat.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
Secyh62's picture
Secyh62
99.0
5
GameTheory's picture
GameTheory
98.9
6
dosk17's picture
dosk17
98.9
7
DrApeman's picture
DrApeman
98.9
8
CompBanker's picture
CompBanker
98.9
9
kanon's picture
kanon
98.9
10
numi's picture
numi
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”