Goldman Sachs SLC IBD Overview

Over the past few years I have noticed a notable amount of misinformation related to the GS SLC IBD program on this site. Given the amount of recruiting momentum (currently ~100 front office bankers in SLC and new classes of ~40 analysts each year), I wanted to create this detailed post and answer any questions so that people who are researching / considering this program have a credible source that will help in their decision-making process.

I will intentionally keep my background anonymous, hence the burner account, but would note that I personally have been in this program for multiple years and the information in this post is either first-hand from my own experience or directly from my colleagues. Warning that this is going to be a long post as I want to lay out each facet in detail. TROLLS should hit the back button now - this post is not for you! I fail to understand why others would want to throw MS on someone trying to hustle and improve their situation, but I'm sure they'll still appear regardless. Anyways - here we go!

Overview

The GS SLC IBD program is a collection of IBD analyst positions located in SLC, with spots in all of the classic and financing groups in GS IBD (TMT, FIG, Healthcare, ECM, Lev Fin, etc.). While there are back office IBD positions in SLC (DRG and operations) this program specifically is FRONT OFFICE and they do the same work as GS analysts on the ground in NY (more on this below). The aim of the program is for an analyst to work for about a year and a half and then move to the NY or SF office as a full-time analyst there. The program was created three years ago out of the Salt Lake City office with about 5-10 analysts, and as mentioned above is now quite a bit larger (the fourth annual class of analysts launched in July).

From an unbiased perspective, I will say that this program is an amazing opportunity for someone who may not be able to go straight to a BB NY analyst role. If you are choosing between GS SLC IBD and BB NY, you're likely to have an overall better experience going for the NY BB job. If you're deciding between a middle market banking role in NY (or something comparable) and GS SLC IBD, you can make a pretty strong argument that the latter will better position your future career for success. There are some drawbacks to the GS SLC program which I lay out below in detail, but the main reason to pursue this program is that given some hard work you can end up in NY as a GS IBD analyst, which is a position that comes with a significant amount of attractive future opps (both externally and internally).

Recruiting for GS SLC IBD

A notable difference between recruiting for this program and standard NY banking programs is that you are much more likely to get a shot here if you do not have a prior BB banking internship. Up to this point, a majority of the analysts hired have been either non-target grads with some type of finance experience (something like banking at a small shop, equity research, asset management, etc.) or GS internal hires who have proven they are strong, but have limited applicable finance experience.

Internships

Over the last year, the internship program feeding to SLC IBD has ramped up quite a bit (~10 interns in summer '17, ~20 interns for summer '18). The intern classes are growing, but I expect that there will still be a significant number of spots open for those fitting the profiles described above who didn't intern with SLC IBD.

Full time recruiting

There have been a handful of kids from targets starting full-time recently, but for the most part, these are people who got into finance too late to seriously recruit for NY BB banking. The full-time recruiting has mainly been done around fall (Aug and Sep), but given the recent shifting timelines in the industry who knows how long that will stay at that time for. The best advice I can give for getting into this program is to network as much as you can with the SLC analysts. They have direct access to the SLC managers / HCM, which will usually result in an interview if they are pulling hard for you. Also, most SLC analysts had to hustle to get where they are, so as a whole I think are more likely to give back in terms of networking when they're able to, so don't be shy to reach out.

Training and Staffing

The new analyst classes start in July with a one-week training in SLC. This training is for the new class to get to know each other and also for those with very limited finance/accounting knowledge to get their feet wet before the full training. After that week, the SLC analysts head to NY to go through the full five-week training program with the rest of the global GS analysts and associates (all new junior bankers from SF, Europe, Asia, etc.). Once the training program / series tests are done, the SLC analysts start their first of many short-term assignments (STAs). This means that they will stay in NY for the first five weeks while actually on the desk in order to build relationships with teams in NY that they will be working with. After that five-week period, they will return to SLC to work remotely from that office.

Initial Staffings

From a staffing perspective, initially the teams are likely to be more client service focused and less technical given the limited prior banking experience of most analysts. Once the analyst has proven themselves (can be anywhere from one to four months), they are likely to be added to live deals with a second-year analyst to work with. Usually, around the six to nine-month mark, you will start to be the sole analyst on CS and live teams. There are many exceptions to this timeline, and a lot of the time comes down to who in the group has capacity to take on new teams (e.g., I was staffed on a live sellside about a month into the job to cover for a second year who was on vacation, and I ended up staying on that team and continuing to run with the model).

Being added as a second analyst on a deal

It is worth noting that a lot of the time you are added as a second analyst on a deal, it is because it is a large or high-profile client with plenty of work to do, which can give you great exposure to cool names (think deals like Amazon / Whole Foods, Spotify, etc). As an analyst, you will likely have three different five-week STAs to NY before you convert full time - one directly after training, one about six months later, the other about six months after that. Again, the purpose of these trips is to continue strengthening relationships (and they are very helpful in pushing along the process of moving to NY full-time).

Working Remotely

The content of the work being done in SLC and the hours are the same as NY. Diligence trackers for live deals, merger/RMT/LBO/DCF models, client service decks, endless client calls, etc etc. The biggest obvious difference is that instead of sitting next to your associates and VPs, you'll be a few thousand miles away and forced to communicate through call/email/IM. This can create challenges at times and makes some things harder, but for the most part, can be pretty well overcome by someone who is willing to put in a little effort to stay plugged in and have a good attitude.

Comparison to a NY analyst

At a high level, you learn more quickly sitting in NY due to things like going to the MD's office for a sit down (vs dialing in from SLC) or sitting with an associate to review a model (vs doing over the phone). If you work hard you can mitigate a lot of these things, but to a certain extent your opportunities over the first year of the job will be very slightly more limited than someone else who started in your class in NY. I would say that after 15-18 months, you will have enough reps that this difference in skill set with an NY analyst will normalize and there isn't much difference vs. that same person. It's tough asking questions when you're in SLC and the rest of your group is in NY, but now the SLC program has gotten so big that there are a lot of second-year analysts there which will be really helpful in answering those questions and helping you along.

How you are treated

On a separate note, most internal people that you work with will treat you like a standard NY analyst, but there are a handful of people who will differentiate you as a lesser "SLC analyst". This group of people thinks that if you didn't have a traditional ivy league path, then you're not as good as others (no respect for the non-target hustle with these people!!). This can be frustrating and painful at times, but as you work in a group and prove yourself, this tends to wear off. For those select few who it doesn't wear off with, you will continue to have more say over your staffing as you are there longer and can specifically request to not work with anyone who is a dick about it.

Pros to working remotely

Those are the major cons, but there are definite pros to working remotely that shouldn't be overlooked, here are a few. First off, in SLC you are surrounded only by analysts, whereas NY it is a mix of associates/VPs/MDs walking around. Given the nature of the junior population, it is exponentially more laid back and less formal in SLC and is a really positive and enjoyable working environment. Most classes create a really strong bond together and enjoy working in SLC. Second, if a deliverable gets messed up, you're much less likely to get yelled at than the analyst/associate sitting in NY, which removes a lot of the inevitably nasty part of the job. Lastly, you have much more control over facetime and working flexibility. As long as you are staying on top of your teams, it is much easier to sneak away to the gym or leave the office and finish the night from home.

Conversion to NY

As mentioned, the goal is for analysts to convert to NY at about the 18-month mark. Leading up to that, there should be multiple conversations both with the staffer in NY and your manager in SLC which will help you understand if you are on track to hit that. Broadly speaking, almost everyone who has worked hard and wanted to convert over has done it. The people who haven't moved over fall into categories such as: recruited to a different job before that point (PE, Corp dev, family office), a few unlucky situations regarding headcount or NY groups not being as supportive as they should have, or sub-par performance. I want to be clear though that overall the management would be thrilled if 100% of people converted. Outside of a major economic downturn (which would impact everyone not just SLC), there are definitely spots to convert for as many people start in the program. Once in NY, most of the people who viewed you as an "SLC analyst" will normalize and treat you normally.

The biggest downside of this program

One other major thing to note, which is probably the overall biggest downside of this program, is that when you convert to NY you step back in tenure one year. So, if you convert to NY at 18 months, you will lose a year and be grouped for promotions and comp with the NY analyst class behind you that started 6 months ago. There have been exceptions to this, but these exceptions are mainly GS internal hires who already lost some tenure making the move into the program. GS officially states that the purpose of doing this is to set up individuals for future success - e.g., if you move over and stay in your same class, you're more likely to be bucketed in the bottom half of your class due to the nature of being in SLC. But if you move back a class, it's more likely that you'll be ranked toward the top of your class, which will set you up well for promotions and comp bucketing moving forward.

Recruiting for PE or HF

If you are planning on recruiting for PE or a hedge fund after moving to NY (which is most people who do banking overall), then this really shouldn't affect you much. If you do plan to be in banking longer term, this is a point where you can get hung up on, but my personal opinion is that you shouldn't. As mentioned before, most recruits to this program are non-target kids who likely would have had a challenging time recruiting for a great NY BB banking job. If you compare the path of doing GS IBD SLC including a year step-back vs whatever other options are on the table, there is a 95% chance that the GS name / experience will lead to better future opportunities, whether it be within GS or external (my opinion here, but it is an opinion that has been formed over multiple years of first-hand experience). Yes, it sucks to lose that year of seniority, but in the lens of a full career, it is a drop in the bucket which allows you to work in the most competitive group at what a lot of people consider the most competitive bank on the Street.

Positioning

I mentioned before that during your initial period you are likely to be added as a second analyst to larger teams. One other important point to make is that if you convert to NY and decide to stay in banking, it is likely that you will stay on those larger teams and will be the main analyst, as the other analyst will have surely left the firm by that point. This is great positioning to play a key role moving forward for work on important / big-name clients (exposure to these clients is another one of the major benefits of being somewhere like GS).

SLC Life and Comp

As you're likely to already know, there are many differences of living in SLC vs. NY, some good and some bad depending on your perspective and preferences. If you are an outdoor person at all, there are amazing things to do outdoors in each season (hiking, boating, biking, some of the best skiing in the world, golfing, etc.). Downtown SLC has a decent amount of options in terms of good foodie restaurants. The nightlife is MUCH smaller than NY, but there are still some good bars to go to and a lot of house parties with other GS employees who are also not from SLC. Comp is less than NY, but expenses are also significantly less. All-in with a normal situation, you're likely to have about the same amount of money in your pocket after taxes and living expenses compared to NY. When you move to NY, your comp will be aligned to the standard comp of whatever class you are bucketed with.

Exit Opps

Since the program began, a number of analysts have left for both buyside and corporate roles (among other things). Many have recruited directly from SLC and some have waited until going to NY to recruit. Whether in SLC or NY, one of the main determinants in successfully landing a job is a solid deal experience. As mentioned above, there is a period in which the SLC analysts have to prove themselves a little more than someone in NY.

Buyside exit op

If you are interested in getting a buyside job out of this program, it is imperative that you work hard to quickly gain your teams/staffers trust so that they are comfortable letting you drive meaningful workstreams on live deals (which will end up being a large chunk of your interviews when leaving banking). If you feel like you have the group's trust but aren't on deals where you are getting to run with things like that, it is up to you to be aggressive with the staffer and get something good to work on.

You will be fine when recruiting externally if...

The general consensus of recruiting externally from this program is that you will be fine as long as you
1) tell a good story as to why you started in SLC,
2) make it clear that the work you did is the same as someone in NY, and
3) that you can intelligently talk about deals that you've contributed to.

Headhunters

There have been a few places (headhunters / PE shops) where they were hung up on SLC not being the same experience as NY and it was a non-starter for them, but the overwhelming were treated like any other NY analyst. If your goal is to get to a good PE / HF shop / Corp dev role, it's my opinion that the most effective way to do it is to convert to NY and recruit once on the ground there. For most people, you will move to NY around January (18 months in), which gives plenty of time to recruit for a summer job six months out. There have been a few analysts who recruited further out once getting to NY (i.e., doing three years of banking instead of the classic two). Normally once you hit the two-year mark in GS IBD you will be promoted to Associate, but if you move from SLC, that will not happen for an additional year per the step-back mentioned earlier. Specifically, as it applies to external recruiting, this delay is actually a huge advantage as a number of headhunters won't consider you for buyside jobs if your title is Associate.

If you want to stay in banking

Changing gears, if banking is your passion and you want to stick around, the door is absolutely open to do that. As you all know, GS, and all banks, are having a hard time retaining analyst talent, so if you are good and want to stick around, they will work with you to try to keep you happy. The most likely move from SLC is to move to NY with the same group you've worked with up to that point. From there, after 6-12 months the firm will likely be open to you moving groups or geographies. If you do stick around, most of the people you started with will be gone, so you will actually be in a pretty good spot in terms of your knowledge/skill set compared to the analysts who started after you. I personally think that banking is a tough job and would be hard to sustain long-term if you want a good life outside of work, but if banking is what you want, you can start in SLC and then have a long career at GS doing a lot of very interesting things.

Conclusion

Yes, there are drawbacks to the GS SLC IBD program, and yes, I agree it is not exactly the same as NY BB banking, BUT the upside of this program is 100x stronger than any downsides it holds. This is something that can set the trajectory of your career on an amazing path if used correctly. Hopefully, this is helpful for anyone who is looking for more detail on this program. I'd be happy to elaborate on any specifics if anyone has additional questions.

Comments (72)

Sep 1, 2018

Great read, and thanks for the insight into the group! SB'd!

Sep 1, 2018

Thanks so much for this! Would you be able to share anything about the interview process? I got the hireview but do you know if I will be asked typical IB technicals? I don't have a background in IB at all and was contacted by a recruiter about this position so I feel unprepared!

Sep 3, 2018

The interview process is pretty standard - resume screen, hirevue, superday. You'll need to come up with a good story of why IBD is interesting and a great fit for you if you want a shot at getting the role. In the superday you should expect to be asked the normal technical questions at a minimum (what are the valuation methods, walk me through a DCF, etc.). These are very early to learn on this website or otherwise with a little research and the group would expect anyone, even someone with a limited finance background, to come prepared with these things. Hope it goes well!!

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Sep 1, 2018

Thanks for doing this. What are some funds SLC analysts have exited to?

Sep 3, 2018

From SLC people have gone places like Partners Group, Tritium (MM fund), a family office, Tesla (know it's not a fund but still fun to say given their recent history) and a credit fund in LA, not sure the name. From NY the buyside exits have been to ADIA (sovereign wealth fund), a West-coast credit fund (again not sure which one) and Apollo (in a strategy role). Would note a few things: 1. I believe everyone who has recruited up to this point has been hunting for immediate starts, whereas if you would want a shot at the marquee names (KKR, TPG, etc.) you would need to recruit a year and a half out in the normal PE recruiting cycle, so we may see some of those from SLC at some point, but it would require more patience as logistically you wouldn't be in NY when the cycle kicks off and it takes 18 months to transfer over there. 2. It is still pretty early innings at this point with this program given the first few classes weren't as large. I'd say this sample size is pretty small, but the results are encouraging and around this year next time we should have more data points to analyze.

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Sep 4, 2018

I'm a senior at a non target west coast university with some connections I made in SLC when I interned (Ops) there last fall... Any recommendations for someone like me trying to break into this office?

(e.g. is it too late in the process to annoy my Salt Lake friends? Given that I just did the HireVue)

Previous experience: Boutique IB, BB Commercial Banking, and Corporate Treasury

Sep 4, 2018

Have all the hirevue invites gone out?

Sep 4, 2018

The process to break in if you've previously interned in a different division is pretty tough if you don't do the official mobility program at the end of the summer internship. If you got the ops offer and declined it then you're essentially blackballed from applying other divisions, if you got the offer and accepted it then they won't let you look at any other jobs, if you didn't get the offer then they're unlikely to want to interview you. I've seen one person make it through this before (got an offer to another division and turned it town, then ended up interviewing and getting the IBD job), but that was a very nuanced case.

In the event that you do have a shot, networking with analysts in the program is likely to be your best bet.

I'm not plugged into SLC recruiting this year so can't confirm if all Hirevues have gone out.

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Sep 4, 2018

Nice post OP, couple questions

1) Maybe I missed it but you mentioned you have been in the program a few years - if you haven't why haven't you converted to the NY/SF office?

2) What's the actual comp? Is it the usual 85-90-95 (or whatever it is now) and what's the bonus %?

3) Reason for #2 (way too far removed to care much about analyst pay), but I want to get at why this program exists in SLC to begin with. Especially since there are no senior bankers or even mid-levels, they are really only staffing the lowest cost resources here. NY's expensive but a ~40K difference across 20 analysts is less than a $1mm in costs.

Any incite you have picked up into why SLC, why this program at all I'd be interested in

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Sep 4, 2018

1) You didn't miss it, I just purposefully didn't say :) I did convert to NY/SF

2) SLC comp is roughly $70-75k all-in first year and ~$10-15k higher for the second year. Like I mentioned in the post, I do feel that post-expenses you're either in the same place or a little above NY.

3) The main two reasons management have historically mentioned are 1. save money while getting high quality work (yes) and 2. see if recruiting a different talent pool will help cut down on turnover (don't think this will play out for them). GS hasn't been extremely transparent on the cost savings, but the fact that they continue to grow the program (roughly 100 bankers now), makes me think they're happy with how it's going.

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Sep 4, 2018

Hold on. Base + bonus is 75k?

Sep 4, 2018

I think it's like 45-50k base

Sep 5, 2018

That's right, $45-50k base with around $25k bonus for first year

Sep 5, 2018

(0.0) that's terrible. I thought they would at least be on IB base scale of 85k.

Sep 5, 2018

Agree it seems a lot lower but you need to think about it on a takehome basis after cost of living for the respective cities, not headline earnings. It doesn't matter much if your top line is lower than NY if your bottom line is the same. Not paying NY taxes and rent (among other things) are significant and make up the difference

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Sep 5, 2018

Know close to nothing about the program but know a partner who was recently moved down to Houston from NYC to create/maintain better client relationships with non-northeast based clients. Is this another reason for the creation of the SLC branch or is it really primarily just to diversify a talent pool in order to increase career longevity?

Sep 6, 2018

The regional coverage strategy is separate from what is happening with the analyst program in SLC. What you are referring to is putting full teams (partner down to analyst) into active regional locations such as Seattle, Dallas, Atlanta, Toronto, etc. to build stronger relationships with the companies there. Whereas the SLC analyst program is more cost / longevity-based as you mentioned.

Funniest
Sep 4, 2018

This is crap. its all MM / BO with no bonus, You really think someone is going to pay you 125k to live in a low-cost, Christian utopia in the most beautiful mountain range in the world and just allow you to plug in your laptop from the local coffee shop? Get Real.

Its probably not even a real GS branch tbh. You will probably be wrapped up in some sort of fraud related to this bucket-shop's copyright infringement of the GS name

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Sep 4, 2018

laughing at my desk right now

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Sep 5, 2018

:^)

Sep 5, 2018

I appreciate the thoroughness of the insight, but from my experience, which is obviously narrow and possibly distorted based on my two interactions, the people from SLC were not the equivalent of front office bankers at major offices. On top of that, their skill sets were materially weaker in certain areas.

The individuals I know were doing most of the pitch deck work and more formatting, less crafting and creating CIMs and pitch themes. So, technically, yes, they were doing front office work. But, with far more limited interaction with the rest of the deal teams, they likely got passed over when it came to understanding why things were happening, how the group was thinking about certain issues, etc.

In other words, it is obviously better than most jobs out of undergrad. But, without conversion to a major office where the individual would interact daily with their coverage or product group, I think they are at a different starting point.

On the flip side, one of them is still employed with a well-known MM today and doing fine. It was a steeper learning curve than most were expecting, but he is close to being equivalent with his peers.

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Sep 5, 2018

I would think that this is very group specific, since almost every coverage group is represented?

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Sep 6, 2018

The goal of my post is to give people a 360 view of the experience, so I appreciate your comments. A few thoughts:
- I feel strongly that if someone is proactive and works hard in this program, they can overcome most of what you've mentioned here. When people see that you can learn quickly and add value, you'll start to get more responsibility regardless of your location. In many situations it is natural for you to be a bit more out of the loop given the distance, but a little extra effort in reaching out to your associate / VP in NY fixes that quickly
- For the most part, people do start in SLC with less experience given they haven't interned, which in turn does set them on a lower starting point than their NY peers. So maybe for the first part the staffings are a little less technical or impactful, but as time goes on that goes away and your skillset normalizes to be on pretty equal ground
- All that being said, there will always be some people who treat you as lesser for being in SLC (I discussed this a bit in the original post). This is more the exception than the rule, but they will tend to do the things you mentioned in your comment and are a huge pain to work with. Similar to above, this gets better as you prove yourself, but can still be one of the more unpleasant aspects of the job that people should be aware of coming into it

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Sep 5, 2018

Anyone know how soon you should hear back after hireview?

Sep 5, 2018

How would you view this vs a lower tier BB NYC office? The people I have spoken to seem happy and are placing (most recent class) or are recruiting after the move to NYC. If savings are really the same this seems like a killer gig if you can prove yourself early.

Sep 6, 2018

Definite pros and cons to both sides. First year or so would be easier in the lower tier BB and it would be easier to recruit for PE since you're in NY, but balance that against having the GS name and likely better deal flow. Agree there is a lot of upside to this program, but it's not the easiest thing in the world

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Sep 6, 2018

Thank you for the post, super informative. Had no clue how heavily tied with NY the SLC program was. Had a Hirevue for IBD and IMD on Monday. Really unexpected odd and specific behavioral questions. Don't think did too well as a result :( Not sure why nearly all others got the typical why GS, greatest strength and weakness, etc. Oh well, it's encouraging to hear it's possible to get a FT position potentially. Hirevues really favor those who are just good at talking around odd/dumb questions. Lose a lot of talent as result. Strongly disagree. Local to Utah and the draw to NY isn't really there for me. Also just curious, have idea how many applications the SLC office gets for summer interns?

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Sep 6, 2018

Yes, the Hirevues are a bit awkward. Not sure on the exact number outside of saying there are a lot and seems to be quite competitive

Sep 6, 2018

wow very comprehensive, thanks for posting

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Sep 6, 2018

Know a girl who works there. Dumb as brick and a psycho. I can't confirm or deny anything op is saying because I've cut all ties to this chick, but from what GS NY people have told me it's India west

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Most Helpful
Sep 6, 2018

excellent post, this is what WSO is for

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Sep 7, 2018

Lately I've been seeing IBD Mgmt & Strategy Analyst positions and some IBD Financing Group positions for Analysts and Associates at the SLC office. Are these positions part of the same program or is GS expanding IBD further beyond the analyst training groups in SLC?

Sep 17, 2018

The financing group associates may be a part of this program, but not the mgmt and strategy roles. This program has a lot of resemblences to the SLC GIR training program, and a handful of years into that program they started to have associates. I imagine they would still want you to convert to NY/SF eventually.

Sep 9, 2018

Thanks for sharing this very detailed post!

Do European citizens (Oxbridge degree & MM SA creds) stand a chance in applying?

Sep 17, 2018

I would assume so, but not a lot of data points from EMEA schools into this program. Do all you can to network with the current analysts and I think the program would take a look at you.

Sep 10, 2018

Great insight, thank you for sharing.

I'm curious if you could go into greater detail with school representation. I'm coming from a west coast school that does well on this side of the country but is almost unheard of in NY. I've always wondered what it would take to break in there and this appears to be a good opportunity from someone in my situation.

Sep 17, 2018

There is a pretty wide variety of schools coming into the program. A lot coming from UT schools (BYU, University of Utah), a lot of non-targets and a small amount of target kids who got into finance late. If you can network with the SLC analysts and get your resume in the mix, I don't think your school would hold you back by any means.

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Sep 11, 2018

Thanks, very helpful

Sounds similar to the junior analyst programs at places like JPM. Makes sense that once someone moves to NY they are treated like everyone else.

I do question the notion that it's a better start than a middle market firm. Clearly the path to NY / SF has been working the last few years - given the firm is using it for "excess nearshore resources" and a pipeline to full time hires, in the event of a slowdown where resources are no longer scarce there's real risk that the ability to jump from SLC to NY disappears. The notion of it being a good career move is contingent upon that mobility being there, which makes up for the roles of reduces responsibility / exposure for that initial period of time.

Sep 17, 2018

I would agree with you that if there was a major economic slowdown it could have an impact on conversions from SLC to NY, but I have a different view on all the value resting in making it to NY. I think that going to NY with this program and recruiting there will give the best set of opportunities, but there have been a lot of people who have recruited directly from SLC and had success doing so. The GS name helps a lot in getting interviews and most people are getting good experience that they can talk to in interviews. So yes, NY is best, but I wouldn't write off SLC on a stand-alone basis.

Sep 12, 2018

I just received the super day for the New Analyst Program in SLC - what should I expect for the interview?

Sep 13, 2018

interested as well

Sep 17, 2018

Standard banking interviews with a small twist. Know the normal stuff - crisp story on why banking, valuation and accounting basics (walk through DCF, what is WACC, what are main valuation methods, $10 of depreciation through the three statements), tell me about a recent deal, why do you want to work at GS, etc. The small twist is that you need to have a good story on why you are interested in banking now vs. one or two years ago. If it's true for you, it's helpful to express that SLC sounds cool for short term, but NYC is where you want to end up.

Sep 17, 2018

That seems like an odd thing to bring up doesn't it? I feel like showcasing that you don't actually want to be in SLC and you are doing so because you need to right now would be too blunt.

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Sep 30, 2018

I understand your concern, but you need to understand that when they recruit for the program they don't want people who want to be in SLC long-term. They want people who have the desire to transition to NY/SF. I think the best way to handle is as I mentioned, saying SLC sounds great for the short-term and you would look forward to the opportunity to move to NY/SF

Sep 20, 2018

How many classes there in a year? I wonder would it be possible to start at January instead of July.

Sep 30, 2018

Currently one class and I think unlikely that they'll change that

Sep 20, 2018

I just did the superday on Tuesday 9/18- when should I expect to hear back?

Sep 20, 2018

Recruiter said one to two weeks

Sep 20, 2018

The recruiter told me we should hear by one week from superdays

Sep 21, 2018

Got an offer yesterday from the superday on 9/18

Sep 21, 2018

Sa or ft

Sep 21, 2018

FT

Sep 22, 2018

Recruiter called me and said that we would find out at the end of next week

Sep 22, 2018

Have you gotten your written offer yet?

Sep 22, 2018

Guess we gonna be colleague then!

Sep 22, 2018

Delete pls

Sep 22, 2018

We should create some kind of group, get in touch before we head to SLC

Sep 22, 2018

Does anyone know how many people they are selecting for this year's class?

Sep 22, 2018

If you are in for 2019 SLC FT and look forward to knowing your class, please PM to connect. We have a group set up!

Sep 22, 2018

Every time I check the GS Careers website, there's always an IBD Classic Knowledge Management Analyst position in SLC. Is this because they haven't yet found a good enough candidate or is the turnover in that position is really high?

Sep 30, 2018

Possibly both. One of the KM analysts who started in SLC just moved to SF to do TMT banking though, so seems like that jump is possible (though harder than if you're an analyst in the SLC banking group itself)

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Oct 5, 2018

Has anyone applied to the SLC GIR FT position?

Oct 7, 2018

How many candidates typically get offers from IB FT SLC superdays?

Oct 16, 2018

There is no quota, it's totally based on quality of candidates. Generally 40ish spots for the year with some being full-time internal and some being returning interns. So if you assume that leaves 20-25 spots and they do 5 super days, it would average to 5 offers per super day. It's more lumpy than that and the numbers are high-level, but it's probably not too far off reality

Oct 12, 2018

What if you are hired as a experienced analyst to SLC? Would you still have a the 18 month option to transition to NYC/SF?

Oct 16, 2018

Yes. Whether you are hired internally after 2-3 years at GS or hired externally with experience, it will still be 18 months to conversion to NY/SF. They may give you some credit after conversion by not making you bump back a class (there have been a number of these situations), but that is also highly dependent on performance and is not a given.

Oct 16, 2018

If you do GS SLC FT in TMT or HC do you automatically get placed in SF or are there opportunities to transition to NYC?

Oct 17, 2018

Anyone know when the next SLC IBD superday is? I had a phone screening last week and haven't heard a peep since.

Oct 17, 2018
Oct 30, 2018
Oct 30, 2018
  • Akshat-Bhargava
  •  Nov 27, 2018