What it’s like to intern at GS: feel free to ask about anything.

Have some time since it’s Labor Day and classes are light this week. Thought I’d give my perspective and answer questions on what it’s like to intern at GS in IB.

Edit: see this got a lot of hate. I guess one could take this as me being an a** and humble bragging. Intent here was to shed light on the experience

 
Funniest

How did you pin Lloyd in your interview? In my superday he had just been oiled up so I had a hard time getting a grip on him.

"one for the money two for the better green 3 4-methylenedioxymethamphetamine" - M.F. Doom
 

Lloyd was very squirrelly. It was particularly hard because they brought him in for the third interview, and I was tired after being grilled hard on some WACC and DCF questions in round 2. Wasnt able to quite pin him but enjoyed talking about the firm and pre-IPO culture

 

Hard to say because I haven’t worked at another bank. A few positive things stick out that may (or may not) be true elsewhere.

  1. People are generally willing to meet you, get coffee, give advice, connect you, etc. Everyone is usually generous with their time, even if they don’t have a lot of it.

  2. Senior people were generally pretty welcoming and friendly. Yes, their processes were still inefficient and some of the tasks asked would drive people crazy, but they were generally nice people.

I suspect these things are true as well at many banks. Frankly, the business has become so commoditized... wouldn’t surprise me if the BBs are culturally fairly similar. GS still comes out on top but that’s likely because of the deal experience + the reps & creativity that come with that experience

 

Lol. Can’t tell if this is sarcastic or not but will answer anyway. Also interesting that you assumed I’m a man...

Women don’t care, nor should they. GS is a great investment bank, but unless a woman you’re talking to has seriously f’d priorities, it’s not gonna sway them either way. Same goes for the people working there — anyone who thinks they’re a total hotshot for working at GS, especially as an intern, is a clown.

Family and friends were proud of me but also interested in whether I actually enjoyed the experience. I don’t think any of them understood what I was really doing all day.

 

What are the most important tasks as an intern? I get that you have to stay till late to build some slides or to punch some pitch books, but do you get more exposure if you are doing really well on the tasks that you have been given? Do interns have the time/possibility to differentiate and take a little more initiative on some projects?

Array
 

Most important task is doing what you’re told, doing it well, and being reliable so that the junior people can start to leverage you rather than having you be a hindrance that they have to constantly correct.

You’d be surprised how many interns aren’t able to have a good attitude, demonstrate a strong work ethic, and do things quickly / efficiently. Throw in some intellectual curiosity and you will definitely stand out.

I did a bit of modeling and had ownership over some projects but was generally there to support the junior people with turning comments, putting together pages, taking notes, etc.

 

Cheers. Basically not being a retard.. is there overall a high level of quant/maths knowledge required at GS?

Heard differing versions: more senior people I have spoken to (who have left in the mean time) say that quant knowledge is required but juniors say it is not, so could be that time has changed work at GS

Array
 

I really don't know what to say anymore... I'm sure you had thinly-veiled good intentions, but...

Edit: I apologise, I was tired and unjustifiably jaded for my age (under 26). I've done a plethora of internships and had younger students reach out to ask me about my experience - it's just I would never entertain the idea of me starting an AMA on WSO about my experience as an intern. Kudos to you, hope you got the return offer.

 
Most Helpful

My intent here was to provide some insight into what the internship experience is like, for the benefit of both incoming interns or people interested in applying.

I couldn’t care less if anonymous people on an Internet forum are impressed that I spent ten weeks at a bank. I didn’t start this to get some satisfaction... really just trying to be helpful

 

Not really, to be honest. Beforehand, I had planned to brush up on technical concepts and practice my modeling. Then school and friends and exams got in the way of that, and I was too lazy to prep in the time off beforehand, so I was nervous going into the internship.

Didn't matter -- nothing I was doing was that technical, so there wasn't any prep that would have helped. I guess if you're not comfortable with Excel (you don't need to be an Excel wizard, but understand conditionals, how to quickly paste formulas/formats, how to sort data, etc.) it might be helpful to review that?

 

Hours were probably between 80-90 each week, with a few that were worse and a few that were better. Saturday’s were generally protected, as is firm policy. Sunday’s were not, and I was there for at least 4-5 hours every Sunday with some being significantly worse

 

Not sure why you are getting so much hate because of the thread. The OP sounds like a genuine person looking to help others and offer guidance.

"It's okay, I'll see you on the other side"
 

I think people believe I’m trying to humble brag. Oh well. Getting MS doesn’t really bother me, it’s not like I’m trying to amass points on here. Just figured I could shed some light on an internship that doesn’t have a ton of particularly useful / accurate & updated info out there

 

Pretty standard backgrounds. About 50/50 M:F, and vast majority were juniors.

Most everyone came from a good school. I also found that almost everyone was very social and personable, which was fun. Bonded with a lot of the other interns over the ten weeks and really leaned on them heavily when the hours sucked

 

It seems like the goalposts are constantly shifting on what’s a target vs. a semi target vs. a non target, and I think that whole conversation is really stupid anyways, so I’m not going to engage in it. But most everyone went to a school where your initial reaction is “oh, that’s a good, fun place with a lot of good programs”

 

were nontarget students ever at a legitimate disadvantage, whether it’d be not having alumni/knowing enough people at the group, being regarded as less knowledgeable because of their school, etc.? Did they have to work harder to get the return offer or was the playing field generally even?

 

Hard to say personally because I came from a fairly well regarded institution, but generally speaking — no. Once you’re there, it seems like they want you to succeed, no matter where you came from. Everybody seemed to be on a pretty even playing field, being judged by work product and attitude and not by school

 

Recruiting was a crap show for my class. JP kicked things off abruptly in early February, so I guess I started then. Going to info sessions, trying to talk to alumni, and all that kind of dominated spring semester

 

This isn’t the answer you’re hoping for, but it’s probably the most helpful one. Questions range from technical to behavioral to focused on your resume and past experiences. It’ll be different for everyone based on their major, prior internships, etc... know at a high level some of the main concerns around valuation and why you want to do banking and work at GS. Other than that not much advice I can give because it varies

 

Tempora praesentium et officia dolor quos. Voluptates consequatur facilis dolores architecto. Nam pariatur cum vel vero maxime impedit dolorem. Id dolore adipisci ut ea ut perspiciatis quibusdam quia.

Ipsa placeat vero similique consequatur veritatis sint qui. Asperiores aspernatur ea laboriosam veritatis qui. Mollitia in dolor distinctio quia.

Vel assumenda minus temporibus ut qui sed quo ipsa. Temporibus non perferendis deleniti tempore non. Maiores ex eum quasi voluptatem eos minus. Odit voluptas laudantium et numquam vitae. Voluptatum voluptatibus quod quaerat et iste. Error velit qui enim velit. Id et non vitae quae sit est.

Ea aut eaque doloremque odit. Necessitatibus eaque qui aut est explicabo pariatur magnam voluptatibus. Minus dolor quas laudantium perferendis autem id quisquam est. Libero iure et eius necessitatibus at labore aut.

 

Consequatur id unde harum vel. Minus velit beatae pariatur minus. Labore recusandae adipisci cupiditate molestiae. Dolor et odit omnis atque. Nemo ea tempore asperiores fuga. Ut molestiae nesciunt non quaerat cum quia.

Natus nisi consequatur qui ut maxime. Rerum quod quasi recusandae adipisci magnam nam neque.

Aut rerum nihil ut in. Neque ut provident iste et provident. Omnis voluptate et quidem a hic. Mollitia aut asperiores id. Quisquam sint sapiente enim aspernatur.

Deleniti sed quas sit eos sed laudantium. Incidunt pariatur et aut et blanditiis qui ut.

 

Architecto provident voluptate nihil quo labore et. Praesentium soluta non perspiciatis et ea cumque. Voluptatem laudantium non vero accusamus. Repudiandae omnis sit id earum officiis harum voluptatem. Ut error magni consequuntur sint et qui dolores.

Cum ex ut quam ea doloribus sed vitae inventore. Soluta odio qui ea rerum in non.

headhunted to GS. regained my senses after seven years. resigned, reclaimed my life and personality. write books, consult startups for fun as long as they interest and challenge me.
 

Illum inventore ut molestiae et aliquid. Qui illum alias veniam incidunt aut nulla excepturi. Sint sit nostrum nesciunt minus voluptatem eligendi aperiam. Hic sequi eaque ratione. Blanditiis occaecati quis ut voluptas sunt ullam debitis. Reiciendis aspernatur beatae iusto rerum odio rerum.

Soluta dolor beatae molestiae iste consequuntur quis totam doloremque. Praesentium possimus recusandae laborum illum temporibus quia. Voluptatem dolor voluptate sapiente sapiente ut dolor. Officiis nihil nesciunt minima nobis quod voluptatum. Veritatis aliquam maiores nihil corporis. Voluptas dolores accusamus sed exercitationem est recusandae quis.

Nihil voluptatibus vitae pariatur delectus. Id fugit iste voluptas voluptates. Laboriosam cupiditate distinctio ea repudiandae officia delectus. Tenetur totam praesentium voluptas repudiandae aut dolorum hic eos.

Rerum architecto consequatur ea amet voluptate reprehenderit rem eum. Consequuntur sed quia et voluptatem necessitatibus molestiae in. Natus sapiente illo aut culpa magnam impedit nulla est. Numquam in velit autem quasi magnam esse.

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
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
kanon's picture
kanon
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
DrApeman's picture
DrApeman
98.9
9
GameTheory's picture
GameTheory
98.9
10
bolo up's picture
bolo up
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...”