Goldman Sachs Finance Division

THEU4U's picture
Rank: Chimp | banana points 2

Okay, give it to me straight. What are the pros and cons of working for GS Finance as a Credit Analyst?

Let's look at this from the usual prestige angle, i.e., b-school potential, FO/MO/BO, its relative position to BB IB and others, and other considerations. FYI, this job is in Salt Lake City (GS is moving jobs out there because it's cheap, apparently). I've done a lot of research on glassdoor.com and it sounds like the pay is about $55-60k all-in on an annual basis if you're going in at an entry level.

Here's GS's webpage for Finance Division: http://www.goldmansachs.com/careers/choose-your-pa...
Here are the responsibilities that GS lists for this type of job:
* Counterparty Analysis and Risk Management
* Assess and monitor the creditworthiness of the firm's trading counterparts and borrowers (e.g. banks, industrials, municipalities)
* Determine acceptable levels of credit exposure
* Assist in qualitative credit analysis, including loan and derivative covenant review
* Assist in the preparation of monthly risk and regulatory capital reports
* Advise Legal of credit terms for inclusion in master and collateral agreements
* Produce qualitative commentaries for senior management
* Interacting with New York and European-based colleagues of GS CRMA, Sales & Trading, Legal
* Analyzing credit risk in one or more of the firm's traded products such as fixed income and equity OTC derivative products, commodities, funding products, listed derivatives, currencies

Comments (38)

Jun 21, 2012

It's BO, away from major financial centers, GS has been there a while now, but have been sending more and more BO there

If you have a better job in a lesser known firm, take that instead

Jun 21, 2012
grapefury:

It's BO, away from major financial centers, GS has been there a while now, but have been sending more and more BO there

If you have a better job in a lesser known firm, take that instead

definitely not this

use the small office to create good connections and strong recommendations
show some good skills and dedication
work on your modelling in the free time or try to get in contact with the IB department there

i would definitely take this if it was internship
however if its for a FT, consider some MM botiques or something too

put all the info you have on the paper, and make a comparison between your offers

Jun 21, 2012

Would the Finance division be considered more competitive than other BO positions like Operations or are they relatively the same?

Jun 21, 2012
seville:

Would the Finance division be considered more competitive than other BO positions like Operations or are they relatively the same?

BO is BO

it depends how much you can network and what you actually get to work on
it is up to the individual

if you just go there to work from 9 to 5 and go bored home, than that is what you should do

Jun 21, 2012
animalz:
seville:

Would the Finance division be considered more competitive than other BO positions like Operations or are they relatively the same?

BO is BO

it depends how much you can network and what you actually get to work on
it is up to the individual

if you just go there to work from 9 to 5 and go bored home, than that is what you should do

But I would still say Finance would have more exit opps than Operations. No?

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Jun 21, 2012
seville:
animalz:
seville:

Would the Finance division be considered more competitive than other BO positions like Operations or are they relatively the same?

BO is BO

it depends how much you can network and what you actually get to work on
it is up to the individual

if you just go there to work from 9 to 5 and go bored home, than that is what you should do

But I would still say Finance would have more exit opps than Operations. No?

i would say that you would always be percieved as a BO guy

i personally like finance more than operations
it should be slightly better, but not that it would matter really

Jun 21, 2012
animalz:
seville:
animalz:
seville:

Would the Finance division be considered more competitive than other BO positions like Operations or are they relatively the same?

BO is BO

it depends how much you can network and what you actually get to work on
it is up to the individual

if you just go there to work from 9 to 5 and go bored home, than that is what you should do

But I would still say Finance would have more exit opps than Operations. No?

i would say that you would always be percieved as a BO guy

i personally like finance more than operations
it should be slightly better, but not that it would matter really

Yeah the work is probably better but not much difference in exit opps...shit, who are we kidding, what exit opps? There's no "IB>PE/HF" path equivalent for back office roles, it's just what you make of it. You either stay there, you move to a different bank to do the same shit but maybe for slightly more money/higher title, quit and go to grad school, or you somehow hustle and break into a better job.

Jun 21, 2012

I would take that over ops any day just based on that job description.
This sounds like credit risk management, which is one of those middle office-ish roles.

I just had a friend who went from that to high yield research after a year and a half. Except he's here in NY.

Jun 21, 2012

If you grind hard enough, you can get out of back office.....

Mar 27, 2014

Risk is definitely not BO, but MO, and has much more interesting work/projects and more exit ops than operations where all they do is putting in trade tickers all day.

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Mar 27, 2014

very interested in knowing more about the Fixed Income portion of this as i'm meeting with a FICC GS MD tomorrow.

Mar 27, 2014

You probably mean "financing", and not the internal finance group. And yes the "financing" group would include DCM, lender financing, structured products, syndication on the FICC side.

Mar 27, 2014

I've never heard of financing, finance, or DCM etc being grouped under FICC at GS. is this new?

Mar 27, 2014

GS recently went through an internal organizational restructuring...so might be the new way of organizing the company.

Mar 27, 2014

You get 10k as a signing bonus. Whether you spend it on relocation or not is up to you. It is all yours. You may also get an additional relocation bonus depending on where you are working. This is entirely yours as well.

Mar 27, 2014

kmahajan,

I am in the same boat as you but for another part of the finance division.

From what I know, due to my friend being hired by the company that does the HR stuff for GS, it is a bit of both. It is mainly a personality/fit type interview with a good amount of financial questions in there, after all it is the finance division.
However, this is for those with some experience as they came by my city hiring for the Middle/Back-Office/Support Divisions. For brand new minted graduates you would have to apply in the fall with everyone else, unless, they have openings you know of or they are specifically looking for someone.

Hawtness is a state of being, not how you look like...
I'm pretty, so pretty...

Mar 27, 2014

get rid of that picture. it's hideous.

Mar 27, 2014

thanks.

Mar 27, 2014

Is it for the Salt Lake City Office?

Live like an artist and work like an analyst......

Mar 27, 2014

Is it for the Salt Lake City Office?

Live like an artist and work like an analyst......

Mar 27, 2014

No it is not, it is for the Jersey City office

Mar 27, 2014

I did one with the Salt Lake City, First round with an associate, mostly behavioral...might be asked about one of the current events that you follow in the capital market....make sure you read the journal.....

Live like an artist and work like an analyst......

Mar 27, 2014

I did one with the Salt Lake City, First round with an associate, mostly behavioral...might be asked about one of the current events that you follow in the capital market....make sure you read the journal.....

Live like an artist and work like an analyst......

Mar 27, 2014

Did a first round interview and a superday for the Salt Lake City office. Just be personable and you should be fine. all of my interviews were pretty laid back and the questions were an 80-20 split between behavioral/technical. Let me know if you need any more insight.

Sep 24, 2017

Can anyone give me insight on the comp for finance GS in SLC

Sep 24, 2017

i would not recommend you apply for job where your only concerns were whether it was BO/MO, along with its compensation

happy to give advice; no asking for referrals please

Sep 24, 2017

Finance is Back Office. Compensation is dependent on location, best bet is to check Glassdoor for what office you're applying to. Many people shit on BO roles here but they pay above market average for their positions and you'll get out of the office at 5.30 most days while enjoying a pretty stress free career in comparison to the FO. Simple saying to go by is "FO make the money, MO protect the money, BO count the money"

Sep 24, 2017

Speaking from experience, you do get paid substantially more than market average but depending on bank and product group, the "getting out at 5.30 on most days" is highly variable. You can log lots of hours during important times (month end, quarter end, year end) and if the bank is a big player with regards to the product you take care of, it can get ugly (from a BO perspective). During my internship, half of the time I'd get in at around 8.30am and leave at 8.00pm.

Sep 24, 2017

It depends on what you are doing. GS houses their Product Control, Market Risk, Credit Risk, Accountants, Strategy, CCAR, FP&A team and more in Finance. Pay varies for what you are doing (accountants make less than most of the other groups). And ability to move around the firm varies depending on what team you are on. Also, almost no one works 9-5. 9-7 is more common and it highly depends on which team.

But the BO/MO/FO distinction is pretty meaningless. It's revenue generating or not and It's about who you know/how you network and the specific skillset you develop.

Jun 21, 2012

Great response. Thanks! I currently work in GS Ops and thinking about making the switch over to Finance. And like you said, there are various roles across Finance. Just curious about the difference in compensation between the two and if it's worth it.

Sep 24, 2017

It depends on what you are doing in Ops and what job you can get in Finance. Risk or Treasury, do it. Though you likely have almost no shot at like Strategy, FP&A and Market Risk. Financial Reporting or Product Control? It's more iffy.You would be better off making a name for yourself in a PM role in Ops and getting promoted quickly if you plan on b school and trying to switch to revenue generating IMO. But if you are doing trade execution in Ops I'd take any job over that.

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Jun 21, 2012
Sep 24, 2017