GS IBD-Finance Associate Position Posted on Website, 40hrs/wk?!

I was looking through job postings on GoldmanSachs.com and found this:

http://www.goldmansachs.com/a/data/jobs/30807.html

It looks like a regular IBD TMT Associate job, job title: Associate, IBD10814SRTMT

Typical description stuff: Duties: Structures, analyzes and executes transactions on behalf of companies in the technology, media and telecom (TMT) space (specializing in technology specific to internet, e-commerce and software). Reviews proprietary financial models for the TMT sector, such as M&A, DCF, and LBO valuations. Helps senior team evaluate models to develop key judgments.....

But then it has this line:
" Work Schedule: 40 hours per week (9:00 a.m. to 6:00 p.m.) "

So is this NOT a regular M&A investment banking Associate position in the TMT group? And, if it's not, why is it so similar in job description? Or the work schedule thing just an error? (it's on a few different Associate positions that they have)

Comments (11)

 
Nov 24, 2014 - 8:57pm

Maybe that's the standard work hours they have to put for "full-time" work? Definitely looks like regular IB, will definitely not be 40 hours. I wonder if "finance associate" means it's a supporting role.

 
Nov 24, 2014 - 9:31pm

That's what I was thinking too, that the "finance" might denote an assistant type role. That's interesting. I wonder what type of people want to do those roles and how much they pay. It is NYC after all so it can't just pay $40k. Sounds like a good role for a college grad who couldn't get anything else. The role should make it easy to transition into a regular analyst role at another bank...better than Back Office roles.

 
Nov 24, 2014 - 9:53pm

I'm not a Goldman guy but they must just put 40 hrs/wk as boilerplate because that's the description of an IB associate position to a T. Never looked at their job board before this so maybe I'm wrong but that's not a position in the finance/acct department. I'm more curious as to why they post a position that they highly recruit or poach for but I've also never been in hr.

 
Nov 24, 2014 - 10:09pm

it's been a while since I've taken a math class, but I can't seem to figure out how 9-6 equals a 40 hour work week?

Array
  • 1
 
Nov 24, 2014 - 10:12pm

9-6 can mean whatever GS says it means

"I know you think you understand what you thought I said but I'm not sure you realize that what you heard is not what I meant."
  • 1
 
Nov 25, 2014 - 9:51am

As people have already pointed out, it's just a boilerplate job posting that some HR person got lazy/sloppy with. It's definitely a TMT associate role within IBD.

GS TMT is always on the lookout for good lateral talent since turnover is so high at the junior level (e.g. not uncommon to see TMT analysts leave before their 2 years are up to do HFs etc.)

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