Goldman Sachs Interview Process

Hi everyone, I wanted to create a post about my process on GS for Junior Analyst in IBD. Sadly I did not get it but anyways.

Context: Applied in Mexico City, 2 years of experience in AM and from a mexican target school.

1.- Apply through the page

2.- Webinar of general information (No filter yet)

3.- Steps 1 and 2 were in January 2021, and in mid february I got an email saying I have passed to the next round (HireVue interview)

          3.1.- HireVue Interview was really easy, general questions like walk me through your Resume, and situational ones like "What would you do if a client is asking you to do some unethical activities?" and "Tell me some IB or M&A you have heard recently" For this last one I mentioned the ESG bond issuance that GS made in February.

4.- 2 weeks later I received another email saying I have passed to the "Virtual Cocktail", in there we were told we were the 30 finalists from 700 applicants, we got in groups of 5-6 people and got 10 minutes with 2 people of GS, from Analysts to MDs. The objective was that we asked the question about any topic, there I asked about ESG initiatives, Mexico´s perspective in IBD and other random comments as the conversation went.

5.- The next day I got called and with the good news that I have passed to the Round 1 of Interviews, consisting in 4 interviews of 30min with the 4 differents analysts. (Mexico division is pretty small so is like 3 Jr Analysts, 4 Analysts from 2nd and 3rd year, 3-4 Associates, 2-3 VPs and I think 1 or 2 MDs.

          5.1.- As I thought, the interviews were pretty technical, and because I got only 30min with each analyst, it was like who are you and then straight with the technicals.

          5.2.- First one was really easy, what is WACC, walk me through a DCF, and what other methos of valuation do you know.

                    Second one was a little bit harder but still under control, I got a PE of 5 and other of 7, all other is the same for this companies, which one do you buy?, How the financial statements are affected in a Merger?. 

                    Third one was the one I got fucked, it was a 3rd year analyst, question were really specific on how certain operations (Buy X, credits, and receivables) affected the statements, but the difficult part is that he wanted with numbers included, so it was like, a supplier is paying us $100, half credit half cash, tell me what is affected and how much. So pretty hard for me, most questions I got them wrong, I answered like "I dont really know the specific anwser but I think it may be this.."

                  Finally, last one was pretty chill, it was almost nothing technical, most interview based on why I wanted to change from PE to IBD if its almost always the other way. (I just joined a pension fund as a Jr Analyst in FO Infra&Energy).

A few days later I got the email that I have not passed to the next round, I was not really surprised since my 3rd interview was really bad in the technicals, but anyways, it was a great experiance and I take with me that last interview. I am already in PE (Not in some KKR or Blackstone) but I got weekly contact with people from those firms and the experience from the Limited Partner side is really good, we are the "owners", hours are really really good (9 to 4-5 and sometimes like 1 day a week until 7-8pm), comp is also good since is a FO role in the 3rd largest pension fund in Mexico (50 usd billions aprox.) So finally, it was a great experience, I gained good networking and now I know that I have to study more the account part haha, but anyways, I plan to be here in the pension fund for at least 2-3 years and then try to move to some KKR, etc. or if got to PM, i would stay, you never know what opportunities will come.

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Comments (6)

Mar 17, 2021 - 7:37pm

Curious. What was your answer to this question: " I got a PE of 5 and other of 7, all other is the same for this companies, which one do you buy?" Also, how would the process work if you are at a US target school and you apply to GS Mexico?

Most Helpful
  • Intern in IB-M&A
Mar 17, 2021 - 8:36pm

not OP but you would buy the company with a PE of 5 because you are essentially paying $5 for $1 of earnings in the company vs. paying $7 for the same $1 of another company.

Mar 18, 2021 - 11:41am

1. At first I started anwsering that it depends on their growth expectations and the risk of the companies, analyst told me that those are also the same, so I just say that I would buy the company with PE=5 because it means the one with 7 is overvalued, and analyst told it was the correct anwser.

2.- If you don´t have problems with spanish it would be the same process (I am from Chile and living in Mexico). Now for covid obviously it was all virtual, but soon they are planning on going back to office. Process starts in January and the job starts in June I think. 

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