GSAM -> IBD?

How difficult is the internal move from Goldman Sachs Asset Management (in particular fixed income investment strategies) to IBD? Thinking of summer analyst in GSAM to full time in IBD - is that possible? And would you take an internship at GSAM over one at a MM investment bank (if your eventual goal was banking)?

 

I doubt you'll have trouble getting your foot in the door and if you crush the interviews no doubt you'll end up at a BB/EB. MM IBD vs. GSAM is a tough one and I think it depends on how badly you want to be in IB. Are you willing to give up brand name for it?

 

Why do you want to leave GSAM Fixed Income ISG? Thats a solid group w/ an actual investments role from UG. Unless your dead set on IB > AM, I'm sure you could def move to another bank. GS says they're internal transfer is pretty easy, but everyone says that. Someone I know did S&T to IB after a year, but really not sure how common that is. But GSAM FI-ISG is really a solid group in my eyes.

 

true, I've heard similar things. I've also heard that you have to be very careful in the way you go about it. It should be done through an informal process where you can informally express interest in an IB group by networking internally, with out filling a transfer application, which is a death sentence.

 

I was dead set on IB career (at least for 10 or 15 years) until everyone told me I'm nuts. Asset management just seems a bit dreary to me in that it's not transactional, though perhaps I'm wrong.

It's not really a question of leaving GSAM but comparing it to the MM offer at this point (which I would have to renege by the way as I'd already accepted).

 

Well if you've already accepted the MM offer and you've been dead set on IB, then take it. Don't take GSAM just because its GS but you don't like AM. If you truly want IB, I'm sure you'll be more successful in the IB role. They're two different skillsets and career paths. If you have second thoughts, just network into an AM after two years of IB.

 

I'd like to bump this. I ended up getting an offer from GS AIMS (alternative investment management) group just recently. MM IB offer still in hand from several months ago. Should I renege?

How is internal mobility at GS if I want to move from AIMS to IB after a summer/1 year?

I'm leaning against it because I just don't want to do asset management but then it is Goldman...

 

I would take the SA offer at GS and then start networking with IB relatively early (around week 3). I would start sending emails to Alumni of your university first and then to analysts/associates of the groups you are interested in. Everyone is willing to meet for a coffee. And if the person likes you, you might receive an invitation for another coffee from a different team member. If successful, this process repeats until you met the whole team/receive a FT offer.

 

Typically, middle market IB would be more ideal than asset management (if you're at a strong performing firm and placed in a good group), especially given that you eventually want to move into IB for full time.

However, GSAM is probably the only exception where you'd be fine staying and lateraling up into GS IB or into another good IB firm, and considering you have a 3.9 from an Ivy, you're probably in a very strong position to do so. Definitely network during your internship, and best of luck!

 

I'd like to add from personal experience that I transitioned from a SA position in GSAM to IB FT at another firm. However, Internal mobility within GS is a VERY competitive process and making a transition from AM to IBD internally is extremely rare, especially from a FT perspective. In your case, you have to look into whether you're willing to give up the name recognition for the experience up front and how either will position you for FT recruiting. It's all about opportunity costs and what you personally value most.. Hope everything works out!

Array
 

If you really want to do banking, 1. you will change your mind 6 months in and 2. go for it. If you go the GSAM route, you will have to wait a minimum 18 months to do mobility (I work at GS IB), and when you do mobility you essentially start over unless you can negotiate better than Donald Trump himself. So waiting 18 months for that slim chance to do mobility (slim because EVERYBODY tries to transfer to IBD) is not a great route. Honestly GSAM sounds like a chill gig, they work normal hours, but if you are set on banking don't do GSAM 100%

 

Dolorem labore dolore culpa quisquam eligendi qui. Ut quas nam molestiae recusandae quia soluta exercitationem. Et recusandae ea dignissimos ut incidunt. Est voluptatem omnis minima necessitatibus animi ullam.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
Secyh62's picture
Secyh62
99.0
5
GameTheory's picture
GameTheory
98.9
6
dosk17's picture
dosk17
98.9
7
DrApeman's picture
DrApeman
98.9
8
CompBanker's picture
CompBanker
98.9
9
kanon's picture
kanon
98.9
10
numi's picture
numi
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”