Comments (40)

Aug 16, 2019

Wow, if true that's nuts!

Aug 16, 2019

Got a text from a buddy who works there (non-IBD) this morning and saw someone had submitted it to Litquidity so I'm pretty sure it's legit. Hopefully Goldman helps the recently signed analysts with transitioning out/apartment leases and stuff.

Most Helpful
Aug 16, 2019

Seriously, would be a huge dick move if they didn't. And if they didn't, that's why you shouldn't ever show loyalty to a firm.

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Aug 16, 2019

rumors were already circulating at GS in IBD since early Aug.

Aug 16, 2019

Any news on the Dallas office as well? Heard not much deal flow running through there

Aug 19, 2019

Just when Equities in Dallas was no longer the backwater because they had SLC . . now it is once again the backwater.

In all seriousness, I don't now. Dallas always struck me as a much less quirky/risky move than SLC, so I'd expect it to be given more of a chance.

Aug 16, 2019

Wow crazy

Aug 16, 2019

What verticals did they have in the SLC office to begin with?

Array

Aug 16, 2019

They were just attached to deals sourced from SF/NYC as remote analysts. There are barely any associates/VPs at SLC - it's like 90% analysts.

Aug 16, 2019

damn I really wanted to work in that office so I could ski powder in the winter oh well. Any IB jobs in Denver?

Aug 17, 2019

I had the same thought process, and started a thread on IB in Denver. Here is the link https://www.wallstreetoasis.com/forums/investment-...

Aug 17, 2019

I didn't realize SLC had many front office roles. I dated a few working at GS here in SLC...one had "cunt" tattooed on her inner lip lol

Aug 17, 2019

That girl soubds like quality breeding stock.

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Aug 17, 2019

She was hot but super crazy. Took me to hang out with her friends on the first date and it was...odd.

Funniest
Aug 25, 2019
m_1:

I didn't realize SLC had many front office roles. I dated a few working at GS here in SLC...one had "cunt" tattooed on her inner lip lol

Which lip?

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Aug 17, 2019

Weren't apps open for summer 2020 IBD in SLC?

Aug 17, 2019

yes

Aug 17, 2019

And only 6 years ago Bloomberg released a video showing how great it was and how rapidly it was growing... how times change

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Aug 17, 2019

The rest of SLC is doing quite well. Relative to the population, the early stage businesses here are quite surprising. I've met more impressive here in SLC than in Vancouver even though Vancouver has a much larger population. Neither are an NY/SF but I was still surprised by the scene down here. The best part is that cost of living is super low too.

Aug 17, 2019

The number of IBD employees in the office wasn't large to begin with; it has always been mostly operations, product controllers and tech. So I don't think axing the IB teams there necessarily detracts from the office as a whole. It will probably continue to grow (along with the rest of the city).

Aug 18, 2019

First they close down barbacoa on main and now this?

American Towers finna be lonely

Aug 18, 2019
GasallNontargets:

Apparently GS is dissolving their SLC IB division. Top bucket analysts will be transferred to NYC/SF and rest will be let go. Brutal for analysts who might have just signed.

Curious if you or anyone knows the rationale behind the move.

Aug 25, 2019

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Aug 25, 2019

I would imagine it's because the program isn't succeeding in creating the pipeline they wanted. On its face the plan is brilliant. Get kids with solid but not amazing backgrounds to go to SLC for two years. You can pay them less because the cost of living is insanely low and by the time their two years are up, they will have already missed their window for PE/other buyside opportunities, which makes it more likely that they stay on with the firm as an analyst--> associate promote. It's possible that many of the bankers that transitioned to the NYC or SF office didn't perform at the level expected by divisional leadership. It also sounds like being an SLC IB analyst would be a logistical nightmare for everyone involved, so if the above were true that would probably be enough to axe the program, notwithstanding the big push into SLC. Will also say that this is in no way meant to criticize the quality of people in Salt Lake. The office is well established and most of the firm's MO/BO functions are being moved from NYC---> SLC. GIR and GS' Alternatives business also have an established presence there.

Aug 18, 2019

Brothers roommate does IB for Goldman in Salt Lake. Apparently it was made known to him a couple of months back that his "stint" in Salt Lake was up this December and that he would be relocated. Didn't receive a specific reason for it if I recall. Who knows, this rumor might actually have some weight to it.

Aug 19, 2019

GS just went through a reorg firmwide, not just IBD, so it makes sense

Aug 19, 2019

This is nucking futs!

Aug 24, 2019

Would this impact the GIR program in SLC in anyway?

Aug 26, 2019

Can confirm from inside source also. The IBD program is dissolving and any current analysts will be moved to NY or San Fran by February 2020. Reason given was not a lack of talent coming through pipeline as this program has gotten bigger every year since its inception, but rather management felt the loss of connectivity to NY hub wasn't worth it when they are working on the same deals.

Aug 26, 2019

Are all analysts being moved or just top bucket? I've heard conflicting news about who is being let go and how is being moved to NY/SF.

Aug 26, 2019
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