Goldman Sachs - GIR - Salt Lake City - Legit?

J_ROCK's picture
Rank: Senior Chimp | banana points 19

Hi all, I have just received an interview for Goldman's GIR (Global Investment Research) group in Salt Lake City.

The program is called ART (Analyst Research Training), in which it is a 6-week training program. After completion they then place you in either equity or credit research (I would assume that you would be put on a research team in Salt Lake City). It seems like an awesome opportunity, and hey having GS on your resume never hurt anyone. My only real concern is the whole Salt Lake City aspect. I have no problem moving, but I have read some things on WSO about that office not being true equity research. I was hoping someone could shine some truth on the subject.

Hopefully someone knows a friend that worked there.

Thanks.

Comments (26)

Mar 30, 2013

From what I gathered it's more auxillery support than true research, although lately there's been a big push for quants in SLC GIR. Don't get me wrong though, I would jump at the first offer of that job

Mar 30, 2013
cakepie:

From what I gathered it's more auxillery support than true research, although lately there's been a big push for quants in SLC GIR. Don't get me wrong though, I would jump at the first offer of that job

this. It's a good place to start if you couldn't break in anywhere else, then you can transfer out to a hub city and do the higher level work

Mar 31, 2013

^ and ^^ are both spot on. Don't do it unless you plan to go to get an MBA as an exit option, and you don't have any other offers. The GS job would greatly improve your change of getting into a good b-school even though its not an NY FO job.

Mar 31, 2013

I know very little about the sell side, but from the buyside perspective, it appears to be a good program. Very small group and thus the lack of information, but people are starting to notice them. They are definitely front office and from what I hear they primarily recruited from BYU.

MBA is not the only option. A friend of mine works a relatively large fund and I know they were interviewing a kid from this program couple months ago. Not exactly sure how that ended up, but if you know your sector/stocks well, you will be good to go.

What are your other choices? I would disagree with the sentiment of "don't do it unless you have nothing else." It depends on what your other options are. If you have BB IBD, go for it. But if you are debating between this and a MM firm, I think it depends a lot on the group and you will probably have to dig deeper.

Mar 30, 2013

NYarb -

I do have a FT offer from a public finance firm that specializes in advising Government Public Housing Finance Agency's (they are essentially a public finance IB, as they offer all the same services then some, but they do not underwrite debt). It is a good offer and I feel that I would get good capital market experience there, as I would be on the bond advisory team (one of my interviewers in her 2ed year with the firm told me on my interview that she was responsible for advising a 300m bond issuance - perks of a small firm is they give you a lot of responsibility early). To put the size of the firm into perspective the company has about 10 people working there and the consistently advise over 1B dollars a year and they are leaders in Public Housing Advisory.

I also have a final round interview at a boutique technology IB, which I am 100% sure they are going to extended me a FT offer. Their analyst is leaving for a BB in a few months and they want to replace him with someone right out of undergrad who has a strong base (I have taken out of school modeling classes). This firm is even smaller then the Public Finance firm, but I would get corporate finance deal experience working there (deal size is around 50m+). It is a legit IB and they average about 3-4 deals a year and have been around for 8 years now (firm was started from three guys who worked in a P/E fund together).

My long term goal would be to try and make it to a reputable PE firm in about 2-3 years. I have been told the only real ways to do this would be ER or IB. So even tho I know I would get good credit experience at the public finance firm, I don't know if it aligns with my long term goals.

Also note that I am from a large state non-target, so all my opportunities to break into banking have been me shooting out cold emails. The GS opportunity was surprisingly posted on my schools career services website.

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Apr 1, 2013

The ART program is not FO as mentioned above, but it supports the main GIR team. AFAIK, at the end of the 2 years in ART, you may be extended a FT offer. Since you are looking to exit to a PE firm, I would probably say that the technology boutique IB looks like your best bet. Especially since the three founders were working at a PE firm.

    • 1
Apr 2, 2013

not sure about the above comments, but that program is FO. Look on a GS ER report and you will see their names. End of the day they talk to clients, which means they are FO. I would agree with NY arb. Take GS if you get it.

    • 1
Mar 30, 2013
absolutereturns:

not sure about the above comments, but that program is FO. Look on a GS ER report and you will see their names. End of the day they talk to clients, which means they are FO. I would agree with NY arb. Take GS if you get it.

agree, you can easily get small fry /pE shops after a year there. also, gs pulls the better people to NYC / active sites. but you have to network...

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May 2, 2013

Interviewd and accepted offer, the brand and training seemed worth living in dowtown SLC. Remember, its a program, only two years of training then you're up for mobility- could take you to NY or London. Think of it as going to a very prestigious grad school. As mentioned above, even if you you're not promoted to associate or get burnt out on the industry; you can leverage the GS brand into pretty much anything. If you get the offer and accept, I'll see ya out there.

    • 1
Dec 6, 2013

So is this a training program to produce research analysts for GS GIR? i.e. at the end of the 2-yr program, would the analyst be permanently placed in the GIR team?

Also, there is no other analyst program for GS Global Investment Research?

Thanks.

Aug 3, 2013

.

Dec 10, 2013

Did you end up accepting?

Feb 19, 2015

What is the compensation for this straight out of undergrad? ...Sign on, base, bonus

    • 1
Feb 19, 2015

And what are the hours like? Normal hours and earnings season hours -- what time are you in the office and when do you leave? Saturdays or Sundays?

Feb 22, 2015

Bump... anyone want to shed some light on this program?

Feb 22, 2015

bumpppp

Apr 26, 2015

I spoke to a VP in the SLC office and he said that it's 7 days a week. He said to expect 12 or more hours a day. Somewhere around 40-50% of the people in the 2 year analyst program receive full-time offers for the NYC office. Some get poached to IBD, some go to grad school.

Apr 26, 2015

I know a few people who did 2 years in this program. They've either moved to GS NY, other ER shops in NY or buy side. Great training and resume-builder if that's the only legit FO position offered to you, although I personally would not take anything in SLC.

Jul 16, 2015

Can anyone shed some more light on compensation for the program? I have heard that first year salary is around 60K, but it would be nice to get some confirmation. I have not been able to get reliable info about bonus structures and so forth, so any info is helpful.

Jul 25, 2015

I've heard the comp was 48k base + 48k bonus

Jul 21, 2015

BUMP

This thread's a bit old. Anything changed? How many are in this program? How many FO traders does GS really have in SLC? Is it mostly support or real FO?

Jul 25, 2015

Does GS have pure ER in SLC? I know their GIR team is there, but I don't think it's thought of as SS ER in the traditional sense.

Jul 25, 2015

Yes, I'm referring to the GS GIR team. I understand that they work in connection with the NY ER office. Can you fill me in more about the exact type of work that they do and how it differs? I was under the impression it was just staffed with Juniors doing ER/modeling.

Jul 25, 2015
Jul 25, 2015