I know GS is considered the best in terms of prestige, but why is it like that? Is their culture any different from JPM or Barclays for instance, do they produce better/quality work? (All rhetorical questions of course). I just want to gain an understanding as to why they are viewed so highly in comparison to other firms.
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They aren't within the industry, but they are by undergraduates. In reality there is no "best bank," it is all group dependent, and even specific to the MD.
https://streamable.com/csg1o
7 figures in salary, 7-8 figures in bonus depending how many deals I close, goldman sakz
shhhh just ride the hype train
I would like to direct you to Cabinet-level appointments since Bush.
The ranking of firms is beta quality. Obviously for non-ranking reasons don't choose WF over GS, but the main reason would be for want of a pure IB experience over a large banking that is mostly known for financing type of leveling. I wholeheartedly look down upon anyone that thinks this way and would laugh at anyone with a compulsion to utter any words of ranking out loud.
JPM is the best performing firm with one of the best cultures.
GS is declining in performance with a strict, tight culture
If declining means leading M&A league tables every year, then I hope I personally plummet.
GS did 50% more in M&A transaction volume than the #2 bank (think it was MS) for H1 '17. Let that sink in.
i'm talking overall. a bank is not just based on ib
Because it's a feeder for Treasury Secretaries
They have the most interesting elevator conversations, or so I overheard.
See slide two here: http://www.theonion.com/slideshow/the-6-best-companies-to-work-for-3729…</a">http://www.theonion.com/slideshow/the-6-best-companies-to-work-for-3729…
And because once you're GS you can do anything you want: http://www.theonion.com/article/goldman-sachs-announces-theyre-blowing-…</a">http://www.theonion.com/article/goldman-sachs-announces-theyre-blowing-…
Barclays...
They're the best because of their history. Frankly, it's really not that different than the other BBs but I would say you're expected to work harder there even if your job doesn't require 90 hour weeks. I know some BO people who are there all the time & they're in ops.
Exit opportunities. If you're lucky enough to be in TMT or FIG, sit back and enjoy the ride
While those groups are the ticket to opening incredible opportunities, sit back and enjoy the ride is hardly what those poor analysts are able to do. I know it was TIC, but just wanted to point out the irony of the verbiage.
They make gold...how cool is that?
I think this is the reason if I am honest: https://www.youtube.com/watch?v=Lx4poQw1mZo</a">I want to work at Goldman Sachs
The Goldman Sachs*
this is hilarious
Edit- I can see this has not been preftigous enough. Will revise and add some more color.
All comes down to the $$$. GS has historically placed strongly in the league tables.
I used to work in banking in Asia, (HK and Singapore, mostly), where GS is typically head and shoulders above its closest competitors. That's what comes when you take WSO's prestige obsession and have it apply to entire cultures.
It's one of those things where they're the "best bank" because everyone thinks they're the best bank....which helps them be the "best bank" by league tables, which helps people think they're the "best bank"....and so on.
That said here is one HUGE reason that you will hardly ever see anyone on the street admit openly: Goldman Sachs has performed an exception job of regulatory capture. There are a huge number of firm alumni in high level government positions as is widely known. What is considerably less widely known is how closely intertwined their firm is with the New York court system. One rule that a lot of people will tell you if you can get them to ask for is that you do everything in your power to prevent any court case involving them from being tried in New York. If that happens the odds are that the judge in question (Federal or otherwise) is a Goldman Sachs alumni and will rule in the firm's favor.
It's so blatant there have even been instances where the receiver of a competitor's business asset was currently serving in executive level posts with Goldman Sachs,.
This is literally the only real answer. Has anyone else notice how vocal and BSD Lloyd is with Trump? Dimon is much more cordial and polite with Trump, because it's true. Lloyd has his dick in the reg hole and him talking his shit is his way of assuaging any belief that GS controls the government. I don't think it does, this is just simply how the real world works.
But the thing about emotion is also very true. "The illusion has become real, and the more real it becomes the more desperate they want it."
What? I don't know any NY city judge (state or federal) that is a Goldman sachs alum. Would be very unusual to go from goldman sachs>judge. Much more likely path would involve working big law. Very little if any overlap between bank lawyers and judges.
You'd be surprised. I should clarify that not all of them are necessarily "alumni" in the traditional sense. There's a lot of them who either worked for outside firms or have other significant ties.
Does the name Richard Owen ring a bell? He's a textbook case.
M&A fees.
deal flow
Marketing.
It's because they offer 1.05% on their online savings accounts, much higher than JP Morgan and Wells Fargo.
So if I understand correctly... Goldman is the most prestigious? (Originally Posted: 02/20/2014)
even the GS digital publication production team?
Haha I saw this posting at my school's OCR system (The only BB that recruits from my school is BAML) and have to ask the question as it only seems fitting.
Goldman Sachs, IMD Communications Group, Print And Digital Publication Production Team & Digital Production Team, Analyst/Associate
I have no words.
i hear their digital production team gets higher bonuses than UBS first years - so basically more than a $100 gift card to Starbucks
What's so great about Goldman Sachs? (Originally Posted: 09/12/2016)
These are the 9 best banks to work for on Wall Street
Goldman Sachs was recently voted the "best bank to work for on wall street" despite employees pointing out their jobs come with with long hours, stress and anxiety, and an office culture filled with red tape.
It seems to me that Goldman has long been the best simply because of their reputation of being the best. For many of us prestige driven monkeys their expansive list of exit ops and the line "I work for Goldman Sachs, ever heard of it?" is enough to make Goldman our first choice when it comes to IB. It makes we wonder how much thought was put into how their employees actually feel while at their desk.
Goldman is and may forever be the most prestigious bank on the street, but is it really the bank you would want to work for if you plan to work in IB your whole life, or if you couldn't tell anyone you worked there?
BUMP
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