Obviously FO trumps BO anyday..
However what are the exit opportunities for operations at such a firm as Goldman Sachs.
Is moving laterally over to FO really that hard if you possibly go down in prestige to a 'lower' bank? I'd imagine there would be a few lower prestige banks out there who would be willing to take on someone who has GS Ops on their resume, especially if they had something else going for them (possibly a CFA level 2 or 3?).
I moved from BO to FO from middle market to a middle market thats a little lesser known. Its possible.
BO is BO and the firm's prestige does not extend to the BO. GS Operations is no different from Operations at a lesser known bank when it comes to interviewing for FO positions. Look, GS is known for it's FO, not for it's BO. Why would a prospective employer give any special consideration to the GS name when it comes to hiring?
agreed to hedgeking yes maybe to some unknown place it might be possible. but dont think because you did operations at GS you are entitled to do ibd at UBS or barcap (or any other bb for that matter)
UBS is not a bb
It wouldn't help you get FO. How does back office at GS prepare you for a career in the front office at a smaller shop? I am having trouble thinking of any way it would. Yes passing a few levels of CFA could help you but you will always get the question, "why didn't you do this out of college, you started CFA?".... As someone involved with the CFA program I will give you full disclosure; CFA will not equate to you getting a front office job, look how many back office Asians and big 4 people are involved in the program b/c of their hopes of getting to the front office of an IB, not happening without a lot of work.
depends on your luck of the draw... if you interact heavily with a FO team youll have good exposure and might help you 2-3 years down the road if you have the credentials.... but if youre stuck doing settlements and other typical BO work then itll be tough to leverage that to a FO position
What type of BO position are we talking here?
Credit Risk Analyst.
Why would I do back office? Well the fact that I'm unemployed ATM does not help. I'm from a non-target and I've pushed extremely hard to network for a FO job or EVEN internship & firms are telling me they are not hiring. Firms who intern only want to take kids who are still in undergrad with stellar grades. Firms who are actually hiring analysts want someone with experience.
If an employer were to ask me why I didn't take a FO job out of college I would tell them that I needed some solid exp. in i-banking before approaching a FO job. Or maybe I'd just be completely honest and say that without an ivy league college on my resume, I couldn't get a FO job. However now that I've passed all 3 levels of my CFA and have some exp. with xx, I feel as if I can approach this position with much more confidence.
i'd advise against saying this - you don't want to look like you're trying to excuse a failure - better to stick to your other idea, something like 'wanted to build up some experience and industry knowledge'
in regards to the rest of your post, definitely sounds like you're in more of a middle office role, which makes things different - if that's the case, the GS name might actually help you, especially with 'lower' banks, as you were saying earlier
credit risk analyst is more like MO right? (correct me if I am wrong) and should give you some decent opportunities in the FO for anything credit related.
i am not an expert on this topic so I can just speculate but the skillset as a credit risk analyst is much more transferable than something in operations
GS Operations? (Originally Posted: 06/24/2007)
How hard is it to break into GS operations? And what are the exit opps from an operations role? I'm coming from a non target and will graduate with around a 3.7 and a finance internship (not in a bank or corp fin role) I'm thinking I have a shot of getting into an operations role, but want to know if its even worth it. Will having GS on my resume even though its an operations role open doors for me into pe, ib, top mba or am I better off working front office at a no name boutique.
GS Ops exit opps = used-car salesman or Denny's waiter.
OK, just kidding.
Front office at no name boutique.
you can try to leverage your credit risk experience into a LevFin position
from there all the doors are open
Goldman Ops pidgeonholed for life? (Originally Posted: 03/16/2009)
Hey guys, I am thinking about accepting a Goldman Ops internship offer. I know it's backoffice but I was wondering if taking this summer internship (I'm a junior at a Ugrad Bschool) will pidgeonhole me for life? I don't mind doing Ops for say 2-4 years but I want to get my MBA and then go into corporate finance/private equity/etc. Will this be impossible if I do Operations at GS?
Also, what are the exit ops like for GS Ops? Thanks for your help! I'm trying to choose between several offers and time is running out. My 2nd option atm is Touchstone Partners.
What I've heard is that nothing "pidgeonholes" you for life except yourself. Especially not an entry position. Do what you want, and if you no longer want to do it, it is more than possible to change careers with motivation and hard work.
I have a feeling that tepper 87 is going to be Carnegie Mellon's version of NYU's own B2 in a few months.
The world has changed. And we must change with it.
Do you go to Ross ? I think Touchstone parters will be a better experience frankly.
"I don't mind doing Ops for say 2-4 years but I want to get my MBA and then go into corporate finance/private equity/etc. Will this be impossible if I do Operations at GS?"
If you plan to get an MBA, then you will open many more doors for yourself. It will all come down to how well you can hustle.
Operations as a career choice in GS on the other hand, is another story. You will find it hard to network with the front office folk, since Ops is in Jersey City, in Goldman tower. It isn't a very challenging job, and you're unlikely to be able to transfer directly to a front office position (unless you get your MBA later on).
On the other hand, unless you've got plenty of other offers to choose from, you might still want to take the position. Times are tough, so you gotta do what you gotta do.
^ I heard GS ops was much more flexible though than UBS or Citi Ops. GS seems to have the culture to care more about its employees.
Thats news to me.....didn't they just move some of their IBD analysts to BO?
If you definitely want to get into PE/corp fin. I would probably say take the offer from Touchstone. I worked there last year and it was a good experience with some real hands on relevant corp fin. experience. People definitely also place well in both FT/SA recruting depending what year you are. I know the last few years people have placed to FT at UBS IBD(LA & NY), Jeffries IBD, and other smaller IB boutiques and PE shops. I wouldn't do something I didn't like just to get the Goldman name on my resume. Just my opinion though. Good luck with the decision.
^^dude none of these banks give a shit about you (especially at the lower levels)...they exhibit that culture for ppl like you to see, but talk to some ppl on the inside at GS and ask how caring they are.
I agree with PNL, you need to stay away from Operations if you would like to consider a front office career. I started in the Middle Office, most of us had MBA’s, too! Did not matter.
Lemme put it this way, your Christmas Party will be at a local bar.....the front office, well, you won’t get in.
GS ops/finance is very laid back. Obviously, they don't work the 100 hr weeks unless your group has a busy season (tax).
GS backoffice gives you little room to move to the front. BUT, the promotion structure is also different. You get promoted when your VP/MD decide you are good enough. I know folks who moved from Analyst - VP in less than 7 years.
If you're 100% sure on getting your MBA, go for it. But getting in a top school may be difficult with simply OPs/Finance experience. The Goldman name can only go so far.
Voluptas qui rem atque facere atque ut. Quasi eveniet doloribus magni adipisci recusandae minima. Cupiditate consectetur quod doloribus et recusandae. Iste vel exercitationem dicta corporis reiciendis repellat. Eum nesciunt exercitationem pariatur aut. Blanditiis dolores omnis atque sit. Adipisci aut ut numquam omnis sapiente sit.
Sit inventore provident odio debitis quasi in ea. Veritatis totam accusantium est eaque autem quo et. Magni in fugiat laboriosam in omnis facilis aut. Est voluptas at saepe dolores repellat. Est magnam exercitationem hic.
Voluptas aperiam sit qui blanditiis. Velit deleniti qui saepe aliquam error.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Et autem beatae optio et dicta voluptatem minima. Nihil eum libero et.