I've heard/read several places that GS has a 'golden touch' as far as your resume goes. The presumption being that once you work at Goldman, you have superior opportunities than available at other firms. To what extent do you guys/girls think this is true? I know they're at the top of the league tables, they have been outperforming the other BBs by a long shot the last few years. They are also ranked highly by sites like Vault for prestige. I saw the Fortune lists a few weeks back though, and Goldman, although having a strong showing, was ranked below several other firms in areas such as Admirable Firms, Top Financial Firms, etc...
So my question is to what extent do you think the 'Golden Touch' at Goldman is true? Sure your grandma has probably heard of Goldman Sachs, more so than Lehman Bros or Credit Suisse, but than again Im sure she hasn't heard of London School of Economics or Wharton... doesn't mean its inferior, just that it hasn't proliferated the layman. Any thoughts?
I think more than any other wall street presence, GS on your resume would signify you to be a stronger than average candidate, however I think that once interview stage commences, it becomes more of a level playing field.
Much like HYWP will help you greatly in receiving first round interviews, GS puts you in a better position than most for post analyst exit-opps, but you would still need to perform incredibly well in interviews to land a top notch gig.
Yes I think getting interviews with GS on ur CV definitely helps you get interviews but converting them to offers is based solely on your performance on the day.
But on the other hand, your grandma (and alot of other non-finance minded people) might probably be more familiar with Citi, HSBC or Barclays...
Got three people on my course that did a summer internship at Goldman Sachs this summer (trading), none of them received offers for grad positions GS. They applied to numerous other IBs for graduate positions, and altho most of them got "fast tracked" to the actual AC (skipped phone interviews) none of them as of yet have actually had any offers.
So it will matter on the day.(Agree with the above posts)
However, i would like to know if you were to get a graduate position at GS, work there for 2-3 years what the chances of getting head hunted were? Or as a 3rd year analyst do you still have to do AC/interviews?!
I view it as similar to HYP in terms of helping you get your foot in the door for exit opps more so than if you were at another firm. You still have to do VERY well in interviews to get some of the more competitive buyside positions.
As for the "golden touch" outside of finance exit opps, I think doing investment banking vs. something else makes more of a difference than Goldman vs. CS. It will help you, of course, but it helps more if you go on to do more finance.
The last time I checked the league tables (about three weeks ago) on Bloomberg (LEAG), to my surprise, Citigroup was actually atop the league tables for the past few years. I don't have a Bloomberg anymore. Can anyone check? elan, can you send me a link to the league table you were looking at?
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