GS PE Placement - Industrials and NR

I have an accelerated full time interview coming up with GS. Just wondering how Industrials and Natural resources did during the past couple of years in respect to PE recruiting. I am in a similar group at another bank. Thanks in advance!

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Comments (51)

Jul 10, 2011 - 9:26pm

GS Industrials has some of the best. Do well and you'll get a lot of interviews.

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Jul 11, 2011 - 2:36pm

Culture is a lot different... really depends on what you are looking for. I'd imagine that placements for Industrials are a bit better, but if you are good I'm sure it won't matter either way. The culture in NR is a lot more favorable to work-life balance, Industrials is your traditional sweatshop and you might as well be in FIG or TMT at that point.

If it helps, I can think of a few instances of people that interned in Indu that decided to switch and do a full time in NR

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Jul 13, 2011 - 6:58pm

Little to no representation at KKR/Carlyle/Blackstone. Class of 2009 in NY sent 1 kid to PE. Rest didn't get buyside gigs they wanted. Some stayed for a third year. Placement isn't nearly as strong as the top groups at GS(TMT, FIG, Healthcare) and top M&A/Sponsors groups on the street. The people at SL from GS NRG are from different offices (London, Menlo) and different years.

Jul 11, 2011 - 7:47pm

Yeah a buddy of mine at GS was just reading out all the leaving emails he had received these two past weeks to me yesterday. Both groups placed well at a variety of PE shops including BX, Apollo, TPG, KKR. But equally, there were some kids who were going off to join some random non-mega PE funds. Comes down to you in the end. You'll get the interviews either way. Industrials employees more analysts which is why it may always come off as though they place better but in reality, the lower headcount of NatRes analysts means they place just as well. I would go with where you find a better fit so you can get somewhat comfortable while doing the crazy hours for the next two years.

Disclaimer: Again, these inferences are just based on leaving emails and where kids said they were going. In reality there may have been others doing vastly different things as well, staying to join one of GS's internal prop desks, PIA, SSG etc. even B-School.

Jul 13, 2011 - 7:01pm

goldman does mainly oilfield services (OFS) deals. i cant tell a lot of the deals they have, but i know they do practically every schlumberger deal, and they did that huge schlumberger-smith deal recently. they dont do much capital markets obviously (but still do it) since they dont have the balance sheet of banks like wells fargo, jpm, etc.

houston actually executes all its deals and doesnt work that much with nyc, i heard. as most banks in houston, its mainly oil & gas centered, whereas nrg in nyc touches upon everything else (though in the oil & gas sector, ny does more midstream for goldman),

Jul 13, 2011 - 7:04pm

nvirobanker:

goldman does mainly oilfield services (OFS) deals. i cant tell a lot of the deals they have, but i know they do practically every schlumberger deal, and they did that huge schlumberger-smith deal recently. they dont do much capital markets obviously (but still do it) since they dont have the balance sheet of banks like Wells Fargo, JPM, etc.

houston actually executes all its deals and doesnt work that much with nyc, i heard. as most banks in houston, its mainly oil & gas centered, whereas nrg in nyc touches upon everything else (though in the oil & gas sector, ny does more midstream for goldman),


This is accurate, although they have brought in an A&D team and I believe an MD from Barcap in hopes of breaking into more E&P. I believe the group did pretty well in Energy M&A league tables last year, but they have less deal flow overall than a lot of other groups because they do little capital market work which is big for O&G.
Jul 13, 2011 - 7:02pm

agree with above, BarCap gets bulk of big E&P deals. GS group kind of blows in Houston, pay isn't anything amazing and many good people have left (not necessarily to great shops either, just got out). Some of my buds started there and hated it fwiw

Jul 13, 2011 - 7:03pm

Can confirm: GS NatRes/Power are one group. Similar to Barcap, NYC office does a ton of work that the Houston office doesn't touch (mid-stream like LDCs, infra, etc). Houston does more upstream work.

Group is OK - there's a reason why the group combines its natres and power arms unlike Citi / BAML / Barc / MS / JP, which have a much stronger presence.

If you're looking at Houston, Barc >> CS / Evercore >> others (exception would be TPH).

Jul 13, 2011 - 7:05pm

ivyhockey:

Can confirm: GS NatRes/Power are one group. Similar to Barcap, NYC office does a ton of work that the Houston office doesn't touch (mid-stream like LDCs, infra, etc). Houston does more upstream work.

Group is OK - there's a reason why the group combines its natres and power arms unlike Citi / BAML / Barc / MS / JP, which have a much stronger presence.

If you're looking at Houston, Barc >> CS / Evercore >> others (exception would be TPH).


Citi should replace Evercore, IMO.
Jul 13, 2011 - 7:07pm

GS Industrials Group (Originally Posted: 11/05/2012)

Have a first round interview with someone at GS in the industrials group. Does anyone know where I can find out more about this group specifically- the GS site doesn't give much of any specific info. Also, if anyone has any good questions for me to ask that would be appreciated. Thanks for your help.

Jul 13, 2011 - 7:10pm

isnt this a bit early for internship? is this through the accelerated process?

J
Jul 13, 2011 - 7:11pm

GS Industrials (Originally Posted: 05/20/2012)

Anyone have any info on this group? Culture, deal flow, exit ops, etc.

Thanks

Jul 13, 2011 - 7:13pm

They're one of the best in regards to deal flow (adelphi IPO, and other big deals...CapIQ it). I think their largest competitors are JPM and CS. Interested in what others have to say as to the fact that I'm just brushing the top of the coverage group. I know they have a split between NYC and Chi also.

Jul 13, 2011 - 7:20pm

GS NR group (Originally Posted: 09/15/2011)

Hey everyone,

I'm trying to get some info on the GS NR group. People I met with were all really nice and I got a very good vibe when i went in, but anything else would be appreciated.

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