Goldman to notify Summer Analysts in NOVEMBER for certain divisions

I have heard directly from a professor at my school who knows students that interned at Goldman over the summer and they said they will not hear until NOVEMBER.

Goldman is going to merge with another bank. I can't see anyway for them to continue to exist with the independent investment bank model.

Looks like the long wait just got a whole lot longer.

What in the world is going at Goldman for them to wait over 2 months to notify their summer analysts?

Comments (63)

Sep 16, 2008

Goldman's CFO sounded like he'd rather fuck a goat than merge with a commercial bank

Sep 16, 2008

Brilliant.

Time to accept my offers from other banks. Oh wait, there are none left. Fuck.

Sep 16, 2008

Straight from Goldman recruiter's mouth...

Apparently they had made offer decisions, then were told to "reevaluate" those decisions, then were told AGAIN to "reevaluate" the decisions. Didn't talk of any timeline, though.

Sep 16, 2008

David Viniar will soon see the end of an independent Goldman Sachs.

Sep 16, 2008

IBD, S&T, GSAM?

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Sep 16, 2008

Deustche already notified, the joys of already having a strong commercial arm.

Sep 16, 2008

deutsche notified a long time ago. 26th august to be precise.

Sep 16, 2008

Deutsche notified this past Friday, at least for their interns from my school.

Sep 16, 2008

for IBD, DB notified on sept 12th.

S&T, much earlier.

Sep 16, 2008

November?

Why the hell would they do that? What is going on over there?

Sep 16, 2008

in case you guys haven't noticed, the markets pretty messed up right now..

it is probably a better decision for both Goldman and its Summer analysts to wait until November to "reevaluate" business needs/headcount for the next summer year. this should result on them not having to rescind any offers if things don't work out

as you saw with LEH, A LOT can change in just a few weeks (and even more can change between November & july 2009) so waiting longer should give a more accurate of next years needs.

Sep 16, 2008

I don't buy November. They just came to my campus today to recruit for FT. So would they choose FT employees from other banks before they choose FT employees from their intern class?

Sep 16, 2008
grandpabuzz:

I don't buy November. They just came to my campus today to recruit for FT. So would they choose FT employees from other banks before they choose FT employees from their intern class?

Because they have no intention of actually hiring anyone from your school.

Sep 16, 2008

well maybe they just won't tell ft interviews until november as well

Sep 16, 2008

JPM has delayed offers for some as well

Sep 16, 2008

What divisions of JPM have had offers delayed? It was my understanding that all offers were made to the SA's at the conclusion of their internship (Aug 8th).

May 13, 2015

.

Sep 17, 2008

GS offers came out today

Sep 16, 2008
ChelseaFC85:

GS offers came out today

All divisions? IBD, S&T, etc.?

Phone call? Email?

Sep 17, 2008

My buddy's girlfriend worked in IBD and got a phone call yesterday from someone in her group. Good luck....

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Sep 17, 2008

JP Morgan gave their summers a Sept. 15th deadline to accept offers.

Sep 16, 2008

Is it typical for offers to be extended mid-Aug and expire mid-Sept?

Sep 17, 2008

Unless the bank has a contract with your school, typical deadline is 4 weeks.

Sep 16, 2008

Definitly no help from my school in that regard. Thanks.

Sep 16, 2008

I know that my offer expired in 4 weeks, but over at Harvard any people that interview on campus have to wait until at least December before forcing students to commit, lucky bastards.

Sep 18, 2008

did you get your GS offer from ibd? what are the terms and such?

Sep 18, 2008

"I have heard directly from a professor at my school who knows students that interned at Goldman over the summer and they said they will not hear until NOVEMBER."

Sounds like a pretty definitive statement!

Sep 16, 2008

You guys still have not heard anything?

Sep 23, 2008

At least ER has heard, IBD and S&T are another couple of weeks.

Sep 25, 2008

i spoke with my friend, at goldman SA in S&T, today and was told that no offers or rejections have been handed out----absolutely no word at all, in fact

Sep 25, 2008

S&T offers at GS haven't been made yet, neither acceptances nor rejections....will take "several more weeks".

Sep 25, 2008

3 categories:
Getting an offer to a specific group
Rejected
"Still under consideration"

Sep 26, 2008

Can anyone confirm if IBD came out today?

Sep 16, 2008

IBD offers came out a day after Buffett made his move. LOL.

Sep 26, 2008

How were they? high conversion?

Sep 23, 2008

People are being notified at different times--yesterday was the first day. Offer rate depends on group and the office (I have heard pretty low numbers so far, but not 100% sure).

Sep 26, 2008

FT offers starting now for IBD then trading. Underclassmen offers come out mid october.

Sep 16, 2008

Maybe Buffet invested 7.5billion usd just so SA's would find out about their offers.

Sep 30, 2008

I'm still waiting to hear back from them since the phone call from HR. Can someone confirm offers are going out?

Sep 30, 2008

Having spoken to my friends, who were GS SAs, some offers have gone out and some people have been put on hold.

Sep 30, 2008

I've heard similar responses... SAs have either received offers or they've been put on a waiting list. Seems like GS is pitting their SAs against the current pool of applicants.

Sep 26, 2008

What is the offer rate looking like? I have been hearing sub 30% but that is off very few observations.

Sep 26, 2008

see the first hand knowledge below

Sep 30, 2008

All GS Securities heard last Thursday or Friday. Offer rates were definitely below 50%. Those who had the thumbs up from the group got a specific offer, whereas those who were in the running got rejected. Several kids I know who had the thumbs up were put on hold- guess their groups had a hiring freeze. At my target ivy in the high single digit sample size, 2 out of 8...

IBD kids started hearing back last Friday, though I believe different groups are letting kids know at different times.

oh ya, and this is first hand knowledge.

Sep 26, 2008

I actually know for a fact that ihavenomoneynow 's claim is not entirely true. For one, underclassmen in securities do not find out until mid october. Additionally, I was informed that there was a preliminary wave of offers (and rejections) that went out last thursday and friday. Early this week I had talked to others in my class who had not gotten an official call yet.

Sep 26, 2008

and I was a securities SA, so this is also first hand

Sep 26, 2008

and I was a securities SA, so this is also first hand

Sep 26, 2008

and I was a securities SA, so this is also first hand

Sep 26, 2008

and I was a securities SA, so this is also first hand

Sep 26, 2008

and I was a securities SA, so this is also first hand

Oct 1, 2008

Sophomore IMD was told back in the summer they wouldn't hear back until mid-October. (HR wanted to take care of the junior interns first)

Oct 1, 2008

Sophomore IMD was told back in the summer they wouldn't hear back until mid-October. (HR wanted to take care of the junior interns first)

  • aloki
  •  Oct 1, 2008

Can confirm from friends in S&T that offers were given out last week. 1 yes, 1 no, 1 hold.

Sep 26, 2008

I heard offer rate is around 25-30%..

Oct 1, 2008

An SA I know at GS also said offer rate was about 1/3.

www.sharpeinvesting.com

Sep 16, 2008

what timeline did they give when they reached out on sept 12?

Sep 16, 2008

not 30%

Sep 16, 2008

not 30%

Sep 17, 2008

these offer rates can't be right? ~30% sounds absurd, at least for IBD.

Sep 17, 2008
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