Goldman

Hey all - I used to frequent WSO a ton back in the day when I was recruiting to be an SA. I ended up spending a summer and then going full-time at GS before jumping to the buyside in VC/Growth Equity. I'm now headed to Stanford GSB for my MBA and have a bit of free time on my hands. Coming from a mid-target (UNC), I remember how stressful the process was, especially because I had so few mentors and had to learn everything through trial-and-error. That recruiting experience ended up stoking my passion for mentorship and financial literacy, both of which I am grateful for getting me to where I

30 Jul 2020

Which banks crushed it? Which flopped? My $0.02 below. Total global M&A deal value grew by 92.5% year-over-year for Q1 2021. Ergo a bank that grew M&A deal value by less than this LOST market share year-over-year and a bank that grew more than this GAINED market share y-o-y. Source: https://markets.ft.com/data/league-tables/tables-… Market Share Gainers Jefferies: Made the Top 10 for global M&A deal value and grew global M&A deal value by over 800% y-o-y. Hats off. Not sure if they had a bad Q12020 or amazing Q12021 - probably both. Barclays: After getting

31 Mar 2021

Hey everyone, Can someone confirm this? I have been hearing this story all summer. Apparently a Goldman and Blackstone SA urinated on a Nomura intern when he was passed out outside of a Mayfair club in London this summer. Can someone confirm this pls? I am afraid of going to a lesser BB or MM bank for the summer if this is the case.

31 Jul 2019

Hello, Just wanted to ask if there was an official/unofficial groupchat for Goldman Sachs 2021 summer analysts. If not, I'd be happy to create one, as I think it would make summer logistics/insights/socialization easier.

11 May 2021

Hi Monkeys, as you may know, GS SA can choose two teams within IB for their 2 summer rotations. What would your recommendations be based on team culture, prestige, WLB, etc? They normally advise to do 1 rotation in a product group and 1 in an industry team, but I might be more interested to do both with industry coverage teams. Appreciate your thoughts/insights

16 Apr 2021

Curious to know if anyone has experience recruiting for this group at GS? Seems like they're more involved with social impact, so I am wondering whether the interview process will differ from the other groups encompassed within the Asset Management Division.

24 Feb 2021

Hello monkeys, I wanted to get an impression on the best restructuring experience in London in terms of skill building and exit opps. I assume that specialist programs like Evercore/HL/RS prep analyst better for distressed roles than generalist places like PJT/Laz/Moelis, even though PJT is top notch in RX. Another thing that caught my attention after a quick linkedin search is that the London offices of Oaktree and other loan to own / distressed for control places hire mostly from GS/MS and not candidates from restructuring backgrounds. Is this simply a statistical phenomenon since the

04 Jun 2018

The Current Promotion Cycle for Investment Banking Analysts So recently I got word that Goldman Sachs is announcing a pretty dramatic policy shift in the promotion cycle of investment banking analysts right out of college. Traditionally, investment banking analysts would work for two years and then jump to a private equity firm, hedge fund, start up or some other role in corporate finance. The rare breed that could withstand the 100 hour work weeks would sign up for a third year. Most of the best & brightest would move to greener pastures where they could work a measly 70-80hrs/week on average

10 Nov 2015

Hey guys, prospective intern here interested in Aerospace & Defense IB. Wanted to ask if anyone had any knowledge on which banks are generally considered top in the A&D space. Thanks!

16 Jun 2020

Whenever I was asked this question, I never gave a bullshit answer. I said that obviously the hours aren't a pro of working in this industry, but its not something that i necessarily mind and it will help me learn a lot. I also brought up my student loan debt and that I really wanted to pay it off. Interested to hear other perspectives on this.

17 Sep 2019

My experience bridges three worlds: investment banking, private equity, and startup life. Here's my story, in a nutshell: I graduated from the University of Texas at Austin's Plan II and Business Honors programs and was hired directly out of undergrad to GS. I worked in the firm's Special Situations Group, analyzing private equity and debt opportunities. I closed 11 private equity and debt transactions across a wide range of industries, which accounted for over $600 million of investments. On a day-to-day basis, I managed ~$300 million of assets directly. Since leaving the firm, I founded

04 Apr 2016

I was wondering if anyone had heard back from(Just recently got an email saying to make my interests to only one of the offered divisions) or plan on going to or even have went to this event in the past and I was wondering what to expect and how important of an event is this.

30 Jul 2020

The NY Times had a report last week that Goldman Sachs (GS) is exploring an entrance into the consumer lending market. Comparisons have been made between what Goldman has in mind for consumer lending and the company Lending Club (LC) that went public last year. To understand Lending Club and Goldman's vision of consumer lending we need to discussion traditional lending first. Traditional Lending In a traditional banking model, a bank funds a loan through customer deposits. A bank's source of funding is their customer's deposits. Traditionally banks pay a small amount on deposits to compensate

25 Jun 2015

This is for fun, and I think it will be interesting to see people's perceptions across the board. Let's see if we can keep to the "one word" concept and keep this efficient. No need to write stuff out and spoil it, if you hate the concept move on or blast me in a PM. Whether you love or hate Goldman, let's just see how it goes. My word: Icon

15 Oct 2010

Mod Note (Andy): Make sure to read the letter "A Son Never Dies" written by Sarvshreshth's father Sunil Gupta Sarvshreshth Gupta dies at 22. Sarvshreshth was a tech investment banking analyst at GS. They haven't released the cause of death but it appears similar to the BAML London situation. It's always sad seeing a young kid pass away. It's even shittier that he passed because of complications due to exhaustion from being overworked. The article states that he was up for two days before he passed. He even tried to quit work but decided to come back. I wonder if this will lead to some new

06 Jun 2015

I have an in person interview at Goldman. any advice?! its an in person. any info or advice greatly appreciated

28 Nov 2018

Much has been said today about Goldman Sachs dubious financial practices, but most have not heard about Goldman's involvement in the initial public offering (IPO) of Baidu and the subsequent BIDU share price movements. Goldman Sachs and Piper Jaffray, along with Credit Suisse First Boston, underwrote Baidu's IPO. The IPO would be the first for a pure-play Chinese search engine company. Baidu American depositary shares (ADS) started trading on August 5, 2005. An initial 4.04 million ADSs were offered at $27 per ADS; opened at $66, more than double its $27 price, climbed, stabilized and then rallied anew before ending its historic opening day at $122.54.

16 Apr 2010

Choosing between S&T summer analyst offers for Goldman and Citi that I recently got; both NYC; both are rotational but Citi is also rotational full-time as well. Factors I'm keeping in mind: strength of S&T division (most interested in FICC but obv open to doing equities too), exit opps, compensation, and culture. Absolutely loved the people at Citi and I know a lot of junior/senior people; know less people at Goldman so can't say too much about that but very attracted to its brand name obviously, esp as an international student who'll likely be working outside the U.S in the future Any help

04 Jun 2018

I generally don't like to list things that make me mad. Otherwise, this server would crash quite often. There are certain times, however, that watershed moments occur and and action is needed. Little things make a big difference and considering the way the whole street mimics Goldman, pretty soon we will all be told to wear pacifiers. Goldman is setting another bad precedent. First they let the SEC extort them in broad daylight and now they are putting an electronic messaging muzzle on all 34,000 of their employees.

29 Jul 2010

Hello WSO, Not completely new here, but first post. Basically after a LOT of work and many ups and downs I managed to secure a position as an i banker at one of the top three after graduation (perhaps one day I'll write my "success story"). Before I start with them later this year, I am currently studying for the GMAT as I now consider that with a good score I actually have a shot at getting into one of the top 5, and the score is valid for 5 years. While researching I found that so many people want top MBAs to be able to have a shot at firms like the top 3 i banks. I can't find much about

14 Feb 2018

Has anybody taken part in the GS Women's Trader Academy? Am interested to find out what the application process is like and what you actually do during the event. Any insight would be great, thanks. Also what are the stats like- is it easier to get than a summer internship in global markets?

08 Jun 2021

Can someone provide a little more info on this group? Is it a part of SSG (Special Situations Group) or in some way related to merchant banking? What does a trader in PFI do? There seems to be little info out there

14 May 2021

Anyone here feel any of this? Article says layoffs were at higher levels VP+ and affected M&A, ECM, and DCM. From Yahoo: [quote]Goldman Sachs said to cut dozens of investment banking jobs Goldman Sachs Group Inc. cut investment banking jobs in the last few weeks, joining securities firms that are adjusting to a slowdown in deal activity, according to people familiar with the matter. The bank eliminated dozens of managing directors, executive directors and vice presidents across the mergers and debt and equity capital markets teams, the people said, asking not to be named as the details aren't

05 Jun 2016

Wondering if I can get some opinions on this decision. I go to a state school on the east coast, I've grown up on the east coast and never been to California. I am pretty comfortable with NYC and my family is relatively close. I have 2 offers I am considering, but don't have much time to decide. GS New York in a middle office Risk Management role supporting IBD. This would be at 200 West, their very nice headquarters. Google BOLD program in Mountainview at the Googleplex. Role is as a Financial Analytics Analyst. Diversity program. Thoughts? More info below These are for summer analyst between

30 Jan 2012

I was accepted into the Discover Goldman Sachs regional camp in Dallas/Irving where you get an on-site first round interview, and I really want to aim for an investment banking summer internship. So two questions: (1) It seems that Dallas may not even have an IB office? So far I've only read that Dallas has a strong PWM office. (2): Would it be worth it to do there (if they don't have IB and I'm accepted) at Goldman or aim for an IB internship elsewhere? Background: Sophomore at an Ivy, economics major but no prior finance internship. Interested in IB/PE.

24 Sep 2015

Fellow Monkeys, Bit of a hypothetical one here, but albeit a much more realistic hypothetical than the ones thrown around here. I am currently on board to work at GS this summer, which I am 100% gung-ho for, but I'm wondering about the longer-term job security within the industry, regulations, etc... I've been beginning to give law school more weight in my mind, and I'm fairly confident that I have as good a chance as anyone at Harvard Law school straight out of undergrad. I have above a 4.0 because law schools count A+'s as a 4.3, I go to a top 3 public uni, and have great extra curriculars

03 Mar 2012

I'm a college senior at an Ivy skating through the end of my senior year, awaiting the upcoming summer where I will begin as an Analyst in a top BB Group (think GS TMT, GS HC/CR, GS FIG, MS Menlo, MS M&A). I've been thinking about my options as far as the next couple years, and with the group I'm working in, there are options to work internationally, potentially for a 3rd year as an analyst in a good European group within the European branch of the firm. I would really like to spend a year abroad, as I studied abroad in an intensive program during school and really enjoyed it, and I think work

04 Apr 2016

http://finance.yahoo.com/news/twitter-files-ipo-210453041.html Should be a nice fee.

12 Sep 2013

People vs. GS Thought some of you might find this interesting...

11 May 2011

I'm a recent new grad. I've received offers from -Barcap front office (sales) -GS Ops/Credit Risk To be honest, I plan to exit finance in around 3 years for a B-school or another industry (i.e. IT) Given I am looking for the best environment to learn transferable skills + impress future interviewers, which would be a better option? Thanks!

02 Jul 2015

I don't really know if this topic has been brought up since most people here are networking for their positions, but I am just curious to know if anyone ever had success by just going to Goldman's career page and applying through their website. I know there are probably hundreds of applicants for this, so its difficult, but for someone like me coming from a non-target, I wouldn't really have the type of connections to land a job at a BB.

22 Apr 2012

Hello! I applied to an early career role a few weeks ago and was invited to complete a hirevue shortly after. (My background is in marketing and I am working in higher ed so this was on a whim.) I was really excited to get an hirevue because I would love to transfer into this field. This week I was invited to a Virtual Information Session with GS recruiters in the first week of November. What should I be expecting? Is this a screener process? Is this what would be considered a super day? Or is it really just a "hi, this is what these roles are"? Any feedback would be much appreciated.

23 Oct 2020

Hi I have an unofficial interview with an executive director at JP Morgan IBD in NYC. I wanted to ask about what the culture is like and what kind of people they look for in new hires. I've heard that people who work there tend to be pretty chill but do work and play hard as well. JP Morgan Chase Corporate Culture - New York City Generally speaking, our users spoke very highly of the culture at JPM. The culture was described as laid back, supportive, and full of nice people. [quote Gekko21]Overall, I think they have a great culture. Everyone I know is very laid back and easy to talk to. I have

06 Feb 2011

Goldman Sach's recently issued a 93-page bullish outlook for the industry, with overweight ratings on technology, energy, and basic material stocks. Especially after the beating energy shares have taken over the past five weeks, the time may be right to buy. This link was provided by ZeroHedge. The report highlights GS's investment process and ranking methodology. Click Link for Full Report View: http://leverageacademy.com/blog/2010/06/03/ninety…

03 Jun 2010

I summered in a GS coverage group this summer (not FIG or TMT) and did not like my experience (loved the work but didn't like my coverage industry and wasn't crazy about my intern class or the people in my group). I go to an ivy that is not Harvard or Wharton and is very common on the street. My goal is to do PE after my two years in banking. This last week I began receiving calls from places that I got offers from and turned down at the beginning of the summer. It seems as though the following groups are willing to offer me a chance to switch there FT and I wanted the opinion of some of the older people on here in regards to the reputation of these groups and how they'd be viewed by various exit opps: Lazard (generalist offer but 95% would be in restructuring) JPM (FIG)

08 Aug 2012

Hi all, I have just received an interview for Goldman's GIR (Global Investment Research) group in Salt Lake City. The program is called ART (Analyst Research Training), in which it is a 6-week training program. After completion they then place you in either equity or credit research (I would assume that you would be put on a research team in Salt Lake City). It seems like an awesome opportunity, and hey having GS on your resume never hurt anyone. My only real concern is the whole Salt Lake City aspect. I have no problem moving, but I have read some things on WSO about that office not being true equity research. I was hoping someone could shine some truth on the subject. Hopefully someone knows a friend that worked there. Thanks.

30 Mar 2013

Hey, New to WSO and am looking to recruit for a SA internship next fall. I go to a target school in the east coast but am originally from LA. I decided that I'll probably stay in the west coast upon graduation. I'm looking to ultimately recruit for PE after my analyst stint, therefore Financial Sponsors is probably the group I'm most interested in. I know the west coast has some solid FSG shops, but was wondering if someone can fill me in? As I don't go to school here, it's a bit hard to know. Been reading through the forums but many of them are outdated and I would like some more feedback

17 May 2016

Interesting article on business insider about how Goldman is freaked out about the Volcker rule. Specifically, they're scared of Glencore and the threat it poses to their commodities business. Goldman is one of the 3 big BB commodities players, along with Morgan Stanley and Barclays. Because Glencore is not regulated, it can do whatever it wants with regards to leverage, prop, and compensation. This seems to confirm Midas' post yesterday on the big commodity players. The Real Reason Goldman Should Be Freaking

05 May 2011

Now that the bulge brackets have all turned into commercial banks (LOL) middle market is the new bracket- Lazard vs Moelis?

12 Dec 2008

I'm a senior in a top school in Asia graduating in 2016. I've grinded through school, networked like crazy and completed internships in consulting, VC and Asset Management. I have an MBB offer in Asia (think Singapore/KL/HK) and a BB Equity Structuring offer in London. I need to decide between the two by end of January, and would really appreciate any advice on the pros/cons of either. In the long haul, I would like to end up in PE/value investing - where there's a mix of operational understanding and finance. The positive for MBB is the operational experience, but most of MBB Asia's exits are

29 Nov 2015

Thought it was pretty interesting. Especially the line: "Goldman Sachs is a hedge fund masquerading as an investment bank"

19 Mar 2011

1 Goldman Sachs & Co. 2 The Blackstone Group 3 Morgan Stanley 4 J.P. Morgan Investment Bank 5 Lazard 6 Greenhill & Co. 7 Credit Suisse (Investment Banking Division) 8 Evercore Partners 9 Deutsche Bank AG 10 Rothschild 11 Barclays Capital 12 Perella Weinberg Partners 13 Moelis & Company 14 UBS Investment Bank 15 Houlihan Lokey 16 Jefferies & Company, Inc. 17 Citi Institutional Clients Group 18 HSBC Holdings 19 Wells Fargo & Company 20 Allen & Company Inc. 21 Bank of America Corp. 22 Macquarie Group 23 Piper Jaffray Companies 24 Oppenheimer & Co. 25 RBC Capital Markets Discuss...

07 Oct 2009

Need help guys. Both IBD in NYC. Which would you choose and why? I know GS has better exit opps, but how much better? Also, is analyst pay higher at Jefferies? Any info is helpful. Thanks in advance.

18 Jan 2013

Hey guys, I have a good sense of the differences between BAML IBD and Goldman Legal, but I wanted to know which would provide the best exits and has the better prestige factor? I did BAML IBD this summer and liked it a decent amount, but am not sure what I want to do in the future. Also, I know Goldman is more prestigious than BAML, but I am worried that the legal department work isn't that interesting and is viewed as being less intense. Thoughts? Thanks so much!

27 Oct 2011

Hi all, first time poster I'm at a semi-target US school looking to break through to IBD. So far, no luck. My GPA is 4.0 and I have had some interviews at MM firms like EC,L,GH and R. The BBs and Cdn B5 (RBC, BMO, etc.) have not been easy although i have networked a lot. My previous exp is as a SA at a BB in GER in a PWM div, which i got through a job in BO of a MM in FR mainly working the phones etc. Ideas? I would really appreciate any feedback - plz PM me or rspnd to this pst.

09 May 2010

Deciding between offers for SA at Greenhill in IBD and Goldman in Market Risk Management and Analysis. I'm probably interested in doing IBD FT, but not completely sure. I'm pretty sure the right decision is to just go for Greenhill, but want to hear a second opinion before going ahead with it.

27 Feb 2012

Interview question: Why Goldman Sachs? How would you guys answer this question? Serious answers only please.. Thanks!

07 Nov 2010

Hi all, I had the opportunity to work @ GS this past summer in IBD (industry group). Unfortunately I did not come away with an offer. I have decided to stay an extra semester and take another summer analyst position. I am looking at some of the better known boutiques in NYC and will be submitting applications through non-target recruiting. My question is this: Even though I do not have any contacts through my school or career center at many of these top boutiques, will I need to cold email people through linkedin to even have a shot at a first round?

09 Dec 2011

How do you think Goldman Sachs would react if they found out that you reneged on an offer at another bank to accept an offer with them? Is there any historical precedence (I am sure it is common)? Both NY and SF.

04 Sep 2009

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?

15 Mar 2011