Learn how you can get hired by Goldman Sachs in exclusive "inside interview"
In a 2012 poll, MBAs ranked Goldman Sachs as the #1 investment bank that they would most like to work for, and the #7 hottest employer across all industries.
The world's most famous investor, Warren Buffet, broke from his traditional corporate investments in 2008 to buy a chunk of Goldman Sachs shares - everyone wants a piece of them!
Known for being top of their game, Goldman Sachs operates across all types of investment banking (corporate finance, securities and Asset Management) with headquarters in New York and offices in all the major global financial centers. If you haven't stepped inside one of these offices yourself, this week we take you inside to meet Sandra Hurse, the Global Co-head of Campus Recruiting at GS.
Sandra, based in the Big Apple, has more than 15 years of experience in the banking sector. In this week's Inside View interview you'll get to learn from Sandra about careers at Goldman's, the MBA Summer Associate Program and Goldman Sachs University.
Which areas of the bank do you hire MBAs for?
Currently the two areas of the bank that we hire MBAs for are our Investment Banking Division and our Private Wealth Management division.
Roughly how many MBAs do you hire into full-time roles each year?
Typically over 150 globally, but it varies.
Which business schools do you target in the US?
We target many of the top business schools including Harvard Business School, Wharton, Columbia Business School, Michigan-Ross and Chicago Booth for both investment banking and Private Wealth Management. Additionally, for Private Wealth Management we also include schools that are closer to some of our regional offices. For example, in recruiting for our Dallas and Houston offices we target schools such as the University of Texas at Austin, UT McCombs and Rice.
However, candidates from any school across the country can apply on our website.
Do you target any specific business schools in Europe or Asia?
In Europe we target the top schools such as LSE and INSEAD. There are less target schools from an MBA perspective in Asia but anyone has the ability to apply for a GS Associate role through our website.
What percentage of your MBA Summer Associates typically receive job offers at the end of the program?
We typically have room for all the MBAs. There's no typical number. We evaluate based on performance.
What's the typical starting salary for a New Associate?
We don't discuss salaries in public but we offer a competitive starting salary within the marketplace.
GS was placed among the top 10 firms where MBA students said they'd most like to work (CNN, 2012). Why do you think MBAs desire to work at GS over other investment banks?
I think one of the reasons candidates look to us is that we offer a long term career platform. That is pretty evident in the managers and senior leaders at Goldman Sachs who started as Associates. We have world class training and professional development, and our senior leaders are really committed to developing talent.
Our people have the opportunity to work on prominent deals with important clients in a very entrepreneurial environment, especially in our Private Wealth Management business. They are directly managing high net worth clients and get a lot of responsibility early on to go out and generate new business.
How have careers at Goldman Sachs changed compared to six years ago?
To continue reading the rest of the interview for free, visit businessbecause dot com/news/inside-view-top-jobs/1881/inside-view-goldman-sachs
Stopped reading when she said LSE was a top school for MBAs...
That logic too hard to follow for you?
Basically all I got from this is I need to go to HBS, Wharton, CBS, Ross, or Booth. I kind of already knew that.
I'm going to Rice for my MBA this fall. Am I reading it right that they don't recruit for their IBD slots at UT or Rice and only hire for Private Wealth Management? Is this because the other top rated schools only fill those slots and/or Houston doesn't have IBD from Goldman? I understand they have the pick of the litter from stronger schools but I'm curious if there is another reason for their preference?
Houston has IBD but they are not that great. Not bad, not just not the top of the heap. They do resume drops at McCombs. Not sure about Rice. But again, in Houston they do not have the rep that they do in NY.
Disagree. Goldman Houston has been doing great lately, and has a ton of momentum. Arguably a better place to be an associate than a few of the "top 3" in town.
You can network the crap out of it if you are not at HBS or Wharton as well.
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