12/23/09

Wondering if anyone knows what goes on behind the big black GS curtain while I'm "on hold" for a 2010 full-time analyst position? I had a first round 1+ week ago, notified that afternoon for second rounds a week later, then received the "you've been put on hold" email from HR 3 days after that. Anyone receive an offer after a similar experience, and how long was the wait to hear the final decision?

And by the way, HAPPY HOLIDAYS guys!!!

Comments (92)

12/23/09

I'm in the same situation (GS IBD-FIG), so interested in too.

Thanks in advance.

Financial Modeling

12/23/09

I had a similar experience. Placed under what they called "accelerated interviews" for FT. 1st round on a Wednesday then offer to fly up for second rounds exactly on the following Wednesday. I was the only candidate... at least form what I saw until I got the on hold notice. Most likely placed in the "we like him/her but just want to check if there is anyone slightly better" category. I found out two weeks after the on hold notification.

12/23/09

you had a FT interview within the past month?

12/23/09

WorldTraveler88, that's encouraging, thanks! I figured they wanted to check for better candidates or I'm essentially waitlisted until someone declines an offer....

Anyone know how they decide who to / not to place in the "accelerated interviews" stream?

12/24/09

Also consider that they might not set the analyst class size until after bonus season and they know how many people leave. Since bonuses seem like they'll be massive at GS this year, this would probably help your cause.

Good luck dude.

  • Child Please.
12/24/09

it means you didn't blow them away and they are waiting to see who else accepts and if they have any extra slots

or it could be that they are not sure if they will increase the class size or not

probably a good thing to be on hold, but i'd not just sit around, i'd do everything in my power to get the job witout being a total annoying pain in the ass

have lunch with the person you know best there, see if you can hang with a few analysts for lunch, show an interest

again, don't badger them or they will think you are a jackass and not hire you

but you want them to know you want the job badly

3/7/10

Has anyone been on hold at GS for summer analyst positions? What are the chances that someone will turn down GS?

Thanks and good luck to everybody who's on hold somewhere...

3/7/10
3/7/10
Brown_Bateman:

Reminded me of this
http://www.xoxohth.com/thread.php?thread_id=123853...

lol, great responses that get better and better

3/7/10

Not trying to be downer, but don't hold your breath. For you to come out of the wait-list, some other kid has to reject a Goldman offer. And in this job-market, that is not likely to happen.

Do you have any other offers from BBs(MS/JPM)? If so, you should tell them that you do. This should improve your chances, since this demonstrates: 1) You are a wanted commodity; 2) Goldman is your first choice.

If not, calling up HR does you no favors. And since it does not improve your chances, you should not do it.

Calling Ron Paul an isolationist is like calling your neighbor a hermit because he doesn't come over to your property and break your windows.

3/7/10

Leonidas, would you know how many people are usually ahead of you if you are put on the so called hold list? thanks!

3/7/10

Goldman is notorious for not getting back even when they promise to. You really can't do anything other than wait and apply elsewhere. They will only get back if someone rejects and you're next in line.

Get ready for the 'silent treatment' from these overloads

3/7/10

Do not contact them, there's nothing you can do.

An exception: If you have offers from relative peers and Goldman is your first choice, let them know that if you are given an offer you will accept.

There's no way to know where you are on the hold list, and it won't help you.

If you don't have other offers, start applying to other places if you can. If the above applies, let Goldman know. If they haven't gotten back to you and you have to make a decision, take your other offer. I have to believe that very very few people will turn down a GS offer ITE.

MM IB -> TMT Corporate Development

3/7/10

THEY PLACED YOU "ON HOLD" FOR TWO DAYS? I HOPE YOU HAVE UNLIMITED MINUTES ON YOUR CELL PHONE PLAN! THAT SOUNDS LIKE SOMETHING I WOULD DO!!
-BOFH

In all seriousness, all you can do is wait. Call them at the end of next week to find out where you are, and if you have an offer from another firm that's roughly on par, take it.

Goldman is not quite the same firm it was in 2007. Back in the '60s, Kuhn Loeb owned the bond markets. Today, nobody has heard of Kuhn Loeb.

3/7/10

A guy I know interviewed with them this year and was also put on the waiting list, and said they tend to put a lot of people on the waiting list. Don't call. Even if they gave you an exact position in the list and told you exactly how many other offers are outstanding and how many days each has left to respond, and then provided you with the other offers that each candidate had and was considering against their GS offer, so that you could build a model to assign a probability based on perceived prestige of each firm and the likelihood that someone will accept/reject GS. Even if you had ALL of that information, it doesn't change your situation one bit. You still just have to wait and see.
The only thing that changes your situation is if you have an offer from a bank of comparable standing, and then you call GS and let them know of your other offer.

3/7/10

The best reason to call is if you have an exploding offer from a competing firm. I don't think there is anything wrong with sending an email once ever two weeks or so, just to remind them you exist.

Otherwise, don't hold your breath.

3/7/10

what office?

3/7/10

is this for the Goldman Sachs Veterans Internship?

3/7/10

Just to clarify: GS doesn't have a "waitlist." It means that you are not dinged, but they weren't impressed enough to give you an offer right away. Depending on the office (and your college), they may have given out a few "yes"es to outstanding applicants. Basically, they want to continue to interview candidates and get a better idea of the quality of applicants before deciding if you make the cut as opposed to a "waitlist" where they gave 10 kids offers and if one rejects, then you get his offer.

If you wait long enough, you're probably good since candidates this year suck. I'd suggest telling them you have an expiring offer (if you actually do) and try to force their hand. Otherwise, just gotta hold tight bro.

3/7/10
Tony Bromo:

Just to clarify: GS doesn't have a "waitlist." It means that you are not dinged, but they weren't impressed enough to give you an offer right away. Depending on the office (and your college), they may have given out a few "yes"es to outstanding applicants. Basically, they want to continue to interview candidates and get a better idea of the quality of applicants before deciding if you make the cut as opposed to a "waitlist" where they gave 10 kids offers and if one rejects, then you get his offer.

If you wait long enough, you're probably good since candidates this year suck. I'd suggest telling them you have an expiring offer (if you actually do) and try to force their hand. Otherwise, just gotta hold tight bro.

What you described is why I hate the culture at goldman...he is literally on the waitlist, just because Goldman doesn't refer to it as a waitlist doesnt mean its not one. It like insisting the rocks in your yard are pebbles.

3/7/10

.

3/7/10

Goldman places a lot of people 'on hold'. I'd continue networking and try to get an exploding offer to get a response from Goldman.

3/7/10

lol your gonna hate on a firm for having a waitlist? I dont understand... what does that say about the culture really - that they hedge themselves well?

To the op... You have a small chance - it depends on whether the people they've offered will take it, and judging by this year's conditions, I think most of them will. I'd focus on your other options for now, and come back to it when you have something to leverage.

I don't accept sacrifices and I don't make them. ... If ever the pleasure of one has to be bought by the pain of the other, there better be no trade at all. A trade by which one gains and the other loses is a fraud.

3/7/10

OP, did you hear back from them?

3/7/10

Did anyone hear back / get off the hold list?

3/7/10

Same situation and still waiting here.....

Financial Modeling

3/7/10

If it means anything, I interviewed 3 times with them and then didn't receive an offer. Not sure how it works at target schools though.

3/7/10

I don't think GS usually sends out rejection emails...

3/7/10

Are you a soph or junior? I know they are still holding IMD superday next week in NY.

3/7/10

@WallStreetStandard: They do send out rejection emails. I interviewed at 2 locations, and I already received a rejection email from 1 of them.
@Moneyprestige: Junior.

ya im not sure whats going on, because I applied for 3 locations, got 2 superdays, received 1 rejection without any interviews and 1 rejection after superday. but there is still the 1 superday that i havent heard back from yet after a week. So im confused on whether is a rejection or if im on hold.
Should I wait to contact HR?

3/7/10

Send a picture of your golden scrot to GS. That usually expedites the process when you show them that. If you don't have one then don't bother, you won't hear back anyways.

"I just want to be a monkey of average intelligence who wears a suit. I'll go to business school!"

3/7/10

Send a picture of your golden scrot to GS. That usually expedites the process when you show them that. If you don't have one then don't bother, you won't hear back anyways.

"I just want to be a monkey of average intelligence who wears a suit. I'll go to business school!"

3/7/10

Usually I will move on. I don't believe much about so called on hold thing.

3/7/10

Buddy was put on waiting list after his superday, and eventually they offered him to come back but he somehow killed his chance, i think he just didnt return the call. So just be on the lookout.

3/7/10

Pretty sure Citi is done. If you know a contact on a desk that can vouch for you I would contact them and see if they can try to push you to the top of the hold list. This worked for a friend at BAML last yr.

3/7/10

I'm on hold for GS IBD. Haven't heard anything in over a month. I've pretty much given up hope at this point. That said, they were adamant that I contact them as soon as I receive another offer, and I expect to receive 1-2 offers next week, so we'll see what happens but I'm not holding out hope.

3/7/10
3/7/10

"There are three ways to make a living in this business: be first, be smarter, or cheat."

3/7/10

cakepie:
http://www.xoxohth.com/thread.php?thread_id=123853...
Wow. "Wikipedia confirms you are on hold"

Honest answer, I don't know what it means, mine usually go straight to the trash bin xD

Get busy living

3/7/10

WeGoHam1:
I have been notified that I am "on hold" following my GS superday. What does this mean and what should I do?

Anyone in a similar position or receive an offer yet?

Hi. Did you email HR to ask if you were placed on hold... Or did they send you the notification without asking? I noticed that you started another thread before this one in regards to the hold/rejection.

3/7/10

vegankid:
WeGoHam1:
I have been notified that I am "on hold" following my GS superday. What does this mean and what should I do?

Anyone in a similar position or receive an offer yet?

Hi. Did you email HR to ask if you were placed on hold... Or did they send you the notification without asking? I noticed that you started another thread before this one in regards to the hold/rejection.

I received an email saying that I am "on hold" after i had a superday. I asked HR but all they said was that I would know in a couple of weeks. I thought decisions were made pretty quickly after superdays?

3/7/10

I have a couple friends that went through this same process and I know some people that work in HR. From my understanding of what they have told me, you get put "on hold" when the company wants you but gives out offers to their first choice candidates and wait to see if those candidates accept or reject their offers. If the first choice candidate doesnt accept their offer then they will give you an offer.

3/7/10

jbennett34: Ok that makes sense. Do you know the typical timeframe that candidates usually have to accept or reject an offer? Couple of weeks?

3/7/10

I do not know the typical time frame and I am sure it varies per company but I would imagine that most offers expire after 2-3 weeks of being given, I am only assuming that based off my own offers. Give it about 2 weeks after being told you were on hold and I am sure by then you will have heard something.

3/7/10

Just have to wait. One of my friends got in through this way. He was on hold and got a call a week later. it happens.

I don't think having an offer will change anything

3/7/10

i just got the rejection email after being on hold for 2 weeks.

it's GS HK.

3/7/10
untilted:

i just got the rejection email after being on hold for 2 weeks.

it's GS HK.

What division did you apply for?

And were you on hold for two weeks after the superday?

3/7/10

Sorry to hear that man. I know how annoying it is to wait on hold and then at the end not get the offer. Best of luck with all of your other endeavors.

3/7/10
DaCarez:

Hi all,

About a week ago had a 1st round interview for SA (as a soph) with GS. In the course of the interview, we all decided that one of my original two groups wasn't a good fit for me (ironically the one that gave me the interview). 3 days later, I get email that I'm 'on hold'. I am wondering now whether I should keep on them in a subtle, but not annoying, way, or just let them get back to me in due course. Any suggestions?

Thanks.

Note: If i had other offers, I'd be pushing with that. But I don't ;

Are you still waiting on it? I'm on hold too.

3/7/10
humble_dude:
DaCarez:

Hi all,

About a week ago had a 1st round interview for SA (as a soph) with GS. In the course of the interview, we all decided that one of my original two groups wasn't a good fit for me (ironically the one that gave me the interview). 3 days later, I get email that I'm 'on hold'. I am wondering now whether I should keep on them in a subtle, but not annoying, way, or just let them get back to me in due course. Any suggestions?

Thanks.

Note: If i had other offers, I'd be pushing with that. But I don't ;

Are you still waiting on it? I'm on hold too.

Yeah, he's been on hold for 3 years...

-MBP

3/7/10
manbearpig:
humble_dude:
DaCarez:

Hi all,

About a week ago had a 1st round interview for SA (as a soph) with GS. In the course of the interview, we all decided that one of my original two groups wasn't a good fit for me (ironically the one that gave me the interview). 3 days later, I get email that I'm 'on hold'. I am wondering now whether I should keep on them in a subtle, but not annoying, way, or just let them get back to me in due course. Any suggestions?

Thanks.

Note: If i had other offers, I'd be pushing with that. But I don't ;

Are you still waiting on it? I'm on hold too.

Yeah, he's been on hold for 3 years...

Haha, funny to bump this thread - I remember this pretty vividly - was so stressed out over it. Funny how things work themselves out

3/7/10

Same here. I interviewed about two weeks ago for sophomore SA. Called them back last week, and they said i'd know by the end of the week...

3/7/10
guvie91:

Same here. I interviewed about two weeks ago for sophomore SA. Called them back last week, and they said i'd know by the end of the week...

Good luck man, I interviewed at a branch office though, I assume you are at NYC?

3/7/10

@manbearpig,

Shit man I didn't even see the dates. So anxious... this is the only one I got and I'm graduating.

3/7/10

I was on hold after the final round for two weeks, and finally got an official rejection email. Glad I have other offer.

3/7/10

did you end up getting the offer?! did you work somewhere else as a SA? im on hold at my last option, and i know its completely random but im trying to gauge my chances

3/7/10

Nope, no GS offer, wasn't even the end of the world - worked in PWM at another BB that summer (soph summer) / got IBD SA at same BB next summer

3/7/10

well what are the chances that someone would reject a goldman offer? not good so theres your chances

3/7/10

so this actually means they already give out offers?

3/7/10

My superday was on Oct 30th for the jersey city location. They've started rolling out results for that batch

3/7/10

so offers have already been given out?

3/7/10

I'd say about 3.50%.

3/7/10

is that a weighted probability based on location, prestige, and MD's girth? if so, I'd say you need to carry that out a few extra decimal places

"The four most dangerous words in investing are: 'this time it's different.'" - Sir John Templeton

"The investor's chief problem - and even his worst enemy - is likely to be himself." - Benjamin Graham

3/7/10

IBD?

There is a chance. My friend was on hold from GS for IBD last spring and ended up getting an offer for the Houston office even though he interviewed for NYC.

3/7/10

Thanks for the feedback.

Well I interviewed for Internal Audit.. And they've hired at least one full time candidate from my school every year. So i'm hoping for the best. That's all I can do for now.

I was just really curious about the timeline for an update on the status. I'll post here if I hear back from them.

3/7/10

If someone is on hold offers have been given out

3/7/10

Anyone with the on-hold status from internal audit has heard back from GS yet?

3/7/10

Hello!
Did they ask you a technical questions during your in person interview?

3/7/10

Not really.. the intensity of the interview was like your first round (times 3). All "fit" questions. It was only technical with respect to your resume. So if you have stated some projects that required technical skills, they will ask you to explain that in detail and then take it from there.

3/7/10

Did you hear back from them yet? I am in the same boat with you on that, I am being waitlisted and its been more than 3 weeks, not a single word from them

3/7/10

I've heard nothing back yet either.. I sent a mail out a week ago requesting for feedback and didn't receive a response. Please keep me posted if you do.. I'll do the same

3/7/10

still nothing back everyone?

3/7/10

No.. I have a deadline.. I'm waiting till the end of next week and then will accept the other offer.. The chance though seems unlikely.. for me at least

3/7/10

thanks. I'm interviewing with other position with GS, but same boat. Do they also ask you about deadlines for other offers, and says they will make sure to get back to you before your deadline?

3/7/10

you should call them and inform them about it.. and see how it goes from there..

3/7/10

What's your other offer?

Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.

3/7/10

It's for a very similar position but with PwC

3/7/10

Audit? I'm not too familiar with the big 4 accounting jobs but wouldn't audit at PwC be better than audit at GS?

Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.

3/7/10

That is true.. But I was looking for an equally good (if not better) alternative with respect to compensation..

3/7/10

Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.

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