3/15/11

So for those of you who are unaware, Teach for America and Goldman Sachs firmly cemented their partnership this year. Goldman will be offering (at least) 20 minorities in the incoming Teach for America class summer internships.

Do you all think this is a move to try and take away from the evil perception of Goldman by being buddy buddy with arguably the most prolific non-profit today? Or do you see it as another way for them to access and recruit some of the most qualified "do-gooders" into the firm? Do you think something like this is good for TFA and furthers its mission? Do you think more banking/finance/consulting firms will make this type of partnership with TFA?

I personally can't see too many incoming corps members applying to the FO positions. I see them more tagging along for the people value (Human Capital, Operations, Legal) and supportive roles. From the 2011 class at my school entering TFA, many of the minorities aren't bothering to apply, and those that are are looking at BO positions. I go to a target Ivy too, so I'm not sure if that's the case across the board.

TFA is trying to get their alumni in positions of influence across the board though, so I don't know exactly how to feel...

More info:
http://www2.goldmansachs.com/careers/our-firm/dive...

Comments (23)

3/15/11
Better.Than.You:

Do you all think this is a move to try and take away from the evil perception of Goldman by being buddy buddy with arguably the most prolific non-profit today? Or do you see it as another way for them to access and recruit some of the most qualified "do-gooders" into the firm?

Both

Get busy living

Investment Banking Interview Course

3/15/11

Yeah, they told my brother that if he got the TFA gig, he could intern at Goldman Sachs.

I sent him some reading materials on banking, but I doubt he'll do it.

3/15/11
sofib09:

Yeah, they told my brother that if he got the TFA gig, he could intern at Goldman Sachs.

I sent him some reading materials on banking, but I doubt he'll do it.

Smack him upside the head. He's going to turn down banking for exactly what?????

Get busy living

3/15/11
UFOinsider:
sofib09:

Yeah, they told my brother that if he got the TFA gig, he could intern at Goldman Sachs.

I sent him some reading materials on banking, but I doubt he'll do it.

Smack him upside the head. He's going to turn down banking for exactly what?????

LOL...he wants to be a doctor. He just wants to have a couple of years of work experience first before heading back to med school, then residency, then internship, then whatever else it is you do to become a doctor. He just doesn't want to burn out by going straight to med school.

He has ZERO interest in finance or business...he thinks it's boring. I told him to give it a shot and at least try if that's what they're offering.

3/15/11
sofib09:
UFOinsider:
sofib09:

Yeah, they told my brother that if he got the TFA gig, he could intern at Goldman Sachs.

I sent him some reading materials on banking, but I doubt he'll do it.

Smack him upside the head. He's going to turn down banking for exactly what?????

LOL...he wants to be a doctor. He just wants to have a couple of years of work experience first before heading back to med school, then residency, then internship, then whatever else it is you do to become a doctor. He just doesn't want to burn out by going straight to med school.

He has ZERO interest in finance or business...he thinks it's boring. I told him to give it a shot and at least try if that's what they're offering.

HAH! I wanted to be a doctor, and I know an MD that wished he had been a real M.D. It is more emotionally satisfying as a career even if it's typically less money.

Get busy living

3/15/11
UFOinsider:
sofib09:
UFOinsider:
sofib09:

Yeah, they told my brother that if he got the TFA gig, he could intern at Goldman Sachs.

I sent him some reading materials on banking, but I doubt he'll do it.

Smack him upside the head. He's going to turn down banking for exactly what?????

LOL...he wants to be a doctor. He just wants to have a couple of years of work experience first before heading back to med school, then residency, then internship, then whatever else it is you do to become a doctor. He just doesn't want to burn out by going straight to med school.

He has ZERO interest in finance or business...he thinks it's boring. I told him to give it a shot and at least try if that's what they're offering.

HAH! I wanted to be a doctor, and I know an MD that wished he had been a real M.D. It is more emotionally satisfying as a career even if it's typically less money.

Well, I'll just see what he decides. I kind of do want him to do the GS gig (assuming he gets into TFA) since I think it'll teach him a lot, especially in terms of responsibility.

3/16/11
sofib09:
UFOinsider:
sofib09:
UFOinsider:
sofib09:

Yeah, they told my brother that if he got the TFA gig, he could intern at Goldman Sachs.

I sent him some reading materials on banking, but I doubt he'll do it.

Smack him upside the head. He's going to turn down banking for exactly what?????

LOL...he wants to be a doctor. He just wants to have a couple of years of work experience first before heading back to med school, then residency, then internship, then whatever else it is you do to become a doctor. He just doesn't want to burn out by going straight to med school.

He has ZERO interest in finance or business...he thinks it's boring. I told him to give it a shot and at least try if that's what they're offering.

HAH! I wanted to be a doctor, and I know an MD that wished he had been a real M.D. It is more emotionally satisfying as a career even if it's typically less money.

Well, I'll just see what he decides. I kind of do want him to do the GS gig (assuming he gets into TFA) since I think it'll teach him a lot, especially in terms of responsibility.

Do what a friend of mine is doing: work in finance for a few years and save up enough money to pay for med school. Unless your parents are loaded, starting a career in medicine with shitloads of debt is a bummer......

Get busy living

Investment Banking Interview Course

3/15/11

Why only for minorities?

3/15/11
Clarkey:

Why only for minorities?

really simple, two birds with one stone. they care about kids and underprivileged students and minorities.

goldman sachs cares!

Best Response
3/15/11

A lot of firms have stuff like this, they just don't feel the need to be gay about it.

If I had asked people what they wanted, they would have said faster horses - Henry Ford

3/15/11

Has anyone gone, or had their friends go, from an FO position at a BB to TFA?

Would two years of non-MBA experience after 2 of banking make it difficult to get back into finance? I ask because there must be people that decide they want to temporarily give back, via TFA or Peace Corps, after they start banking.

3/16/11
Derivs:

Has anyone gone, or had their friends go, from an FO position at a BB to TFA?

Would two years of non-MBA experience after 2 of banking make it difficult to get back into finance? I ask because there must be people that decide they want to temporarily give back, via TFA or Peace Corps, after they start banking.

No and no.

TFA people are one of only two things: people who are very serious about teaching or social climbers using it as a stepping stone to things like FO.

Get busy living

3/16/11
UFOinsider:
Derivs:

Has anyone gone, or had their friends go, from an FO position at a BB to TFA?

Would two years of non-MBA experience after 2 of banking make it difficult to get back into finance? I ask because there must be people that decide they want to temporarily give back, via TFA or Peace Corps, after they start banking.

No and no.

TFA people are one of only two things: people who are very serious about teaching or social climbers using it as a stepping stone to things like FO.

Although I'm very passionate about education, I believe my talents are more geared towards the business world. Although I applied for this internship, I already have another finance gig deferred for two years. FO is not necessarily the end all be all.

I'm just not entirely sure if this "official" partnership is the best move. Particularly since it's aimed at minorities. Black males are only 1.6% of teachers nationally. Going to the 20th anniversary summit I could count the number of Black dudes I saw on my hands. They're targeting this very lucrative opportunity to the teachers most in need...

3/15/11

This is exactly the shit that gives TFA a HORRIBLE reputation among education professionals. Take talented kids who COULD become good teachers, make them feel special, then yank them out after two years just as they're learning how to do their jobs. Make it better by convincing first year teachers that they should be interning at Goldman instead of improving their lesson plans.

3/15/11

Wasn't aware TFA had a horrible rep in higher ed community. I thought they were this super-awesome organization that everybody loves.

Wall Street leaders now understand that they made a mistake, one born of their innocent and trusting nature. They trusted ordinary Americans to behave more responsibly than they themselves ever would, and these ordinary Americans betrayed their trust.

3/15/11
Beef:

Wasn't aware TFA had a horrible rep in higher ed community. I thought they were this super-awesome organization that everybody loves.

My buddy is doing TFA so take this for what its worth but I think he meant the reputation of the program itself and not necessarily the alums/participants of the program.

If I had asked people what they wanted, they would have said faster horses - Henry Ford

3/15/11
happypantsmcgee:
Beef:

Wasn't aware TFA had a horrible rep in higher ed community. I thought they were this super-awesome organization that everybody loves.

My buddy is doing TFA so take this for what its worth but I think he meant the reputation of the program itself and not necessarily the alums/participants of the program.

Exactly. The issue is precisely that the people doing it are actually good, but they are being put in to schools for two years, where they can't do any good, and then pulled out, rather than looking at it as a long-term commitment. TFA does have a good talent pool, and education in this country is better served by those people continuing to teach, rather than going to Goldman. That's not to say some TFA alumni don't go off and do useful things, because they do, but that is a definite minority. There are lots of other reasons that people in education don't like TFA, but that's the main one.

3/15/11
drexelalum11:
happypantsmcgee:
Beef:

Wasn't aware TFA had a horrible rep in higher ed community. I thought they were this super-awesome organization that everybody loves.

My buddy is doing TFA so take this for what its worth but I think he meant the reputation of the program itself and not necessarily the alums/participants of the program.

Exactly. The issue is precisely that the people doing it are actually good, but they are being put in to schools for two years, where they can't do any good, and then pulled out, rather than looking at it as a long-term commitment. TFA does have a good talent pool, and education in this country is better served by those people continuing to teach, rather than going to Goldman. That's not to say some TFA alumni don't go off and do useful things, because they do, but that is a definite minority. There are lots of other reasons that people in education don't like TFA, but that's the main one.

Yeah IMO it's just a resume booster than has no positive effect on the education system as a whole

3/16/11
drexelalum11:
happypantsmcgee:
Beef:

Wasn't aware TFA had a horrible rep in higher ed community. I thought they were this super-awesome organization that everybody loves.

My buddy is doing TFA so take this for what its worth but I think he meant the reputation of the program itself and not necessarily the alums/participants of the program.

Exactly. The issue is precisely that the people doing it are actually good, but they are being put in to schools for two years, where they can't do any good, and then pulled out, rather than looking at it as a long-term commitment. TFA does have a good talent pool, and education in this country is better served by those people continuing to teach, rather than going to Goldman. That's not to say some TFA alumni don't go off and do useful things, because they do, but that is a definite minority. There are lots of other reasons that people in education don't like TFA, but that's the main one.

Surely better to have them for two years than not have them at all. I don't think the kids doing TFA would be interested in a permanent teaching role.

3/16/11
Awon Eleyi Awon Eleyi Won Bad Gan:
drexelalum11:
happypantsmcgee:
Beef:

Wasn't aware TFA had a horrible rep in higher ed community. I thought they were this super-awesome organization that everybody loves.

My buddy is doing TFA so take this for what its worth but I think he meant the reputation of the program itself and not necessarily the alums/participants of the program.

Exactly. The issue is precisely that the people doing it are actually good, but they are being put in to schools for two years, where they can't do any good, and then pulled out, rather than looking at it as a long-term commitment. TFA does have a good talent pool, and education in this country is better served by those people continuing to teach, rather than going to Goldman. That's not to say some TFA alumni don't go off and do useful things, because they do, but that is a definite minority. There are lots of other reasons that people in education don't like TFA, but that's the main one.

Surely better to have them for two years than not have them at all. I don't think the kids doing TFA would be interested in a permanent teaching role.

No, it'd be better not to have them at all. First and second year teachers are generally pretty bad at their job, regardless of whether they went to an Ivy league school.

3/16/11

I worked in ibanking then got a job elsewhere in ibanking- had a few months off so traveled out of the country to work for a big non-profit. I can say that the people here DESPISE Wall St. They work 40 hours a week and think its "tiring." Almost everyone at my non-profit attended an ivy or top liberal arts college. I think the individuals who make the switch to banking are fed up with the culture and need a change. There is no way a non-profit worker is going to quit curing the world of AIDS to work in M&A.

I MISS BANKING (how can this be one might ask?) Well when your boss says to you "oh, so you're one of the people that ruined the world?" You will understand what I am referring to. Oh ya, my response

"I work in M&A. I recommend you learn and understand the different divisions of banking before voicing your ill-conceived notions of Wall Street"

3/16/11
3/16/11
Add a Comment