Goldman Sachs Finance Division

Okay, give it to me straight. What are the pros and cons of working for GS Finance as a Credit Analyst?

Let's look at this from the usual prestige angle, i.e., b-school potential, FO/MO/BO, its relative position to BB IB and others, and other considerations. FYI, this job is in Salt Lake City (GS is moving jobs out there because it's cheap, apparently). I've done a lot of research on glassdoor.com and it sounds like the pay is about $55-60k all-in on an annual basis if you're going in at an entry level.

Here's GS's webpage for Finance Division: http://www.goldmansachs.com/careers/choose-your-p…

Here are the responsibilities that GS lists for this type of job:
• Counterparty Analysis and Risk Management
• Assess and monitor the creditworthiness of the firm’s trading counterparts and borrowers (e.g. banks, industrials, municipalities)
• Determine acceptable levels of credit exposure
• Assist in qualitative credit analysis, including loan and derivative covenant review
• Assist in the preparation of monthly risk and regulatory capital reports
• Advise Legal of credit terms for inclusion in master and collateral agreements
• Produce qualitative commentaries for senior management
• Interacting with New York and European-based colleagues of GS CRMA, Sales & Trading, Legal
• Analyzing credit risk in one or more of the firm’s traded products such as fixed income and equity OTC derivative products, commodities, funding products, listed derivatives, currencies

 
grapefury:
It's BO, away from major financial centers, GS has been there a while now, but have been sending more and more BO there

If you have a better job in a lesser known firm, take that instead

definitely not this

use the small office to create good connections and strong recommendations show some good skills and dedication work on your modelling in the free time or try to get in contact with the IB department there

i would definitely take this if it was internship however if its for a FT, consider some MM botiques or something too

put all the info you have on the paper, and make a comparison between your offers

 
seville:
Would the Finance division be considered more competitive than other BO positions like Operations or are they relatively the same?

BO is BO

it depends how much you can network and what you actually get to work on it is up to the individual

if you just go there to work from 9 to 5 and go bored home, than that is what you should do

 
animalz:
seville:
Would the Finance division be considered more competitive than other BO positions like Operations or are they relatively the same?

BO is BO

it depends how much you can network and what you actually get to work on it is up to the individual

if you just go there to work from 9 to 5 and go bored home, than that is what you should do

But I would still say Finance would have more exit opps than Operations. No?
 

I would take that over ops any day just based on that job description. This sounds like credit risk management, which is one of those middle office-ish roles.

I just had a friend who went from that to high yield research after a year and a half. Except he's here in NY.

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

very interested in knowing more about the Fixed Income portion of this as i'm meeting with a FICC GS MD tomorrow.

"After you work on Wall Street it’s a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side.” - David Tepper
 

You get 10k as a signing bonus. Whether you spend it on relocation or not is up to you. It is all yours. You may also get an additional relocation bonus depending on where you are working. This is entirely yours as well.

CompBanker’s Career Guidance Services: https://www.rossettiadvisors.com/
 

kmahajan,

I am in the same boat as you but for another part of the finance division.

From what I know, due to my friend being hired by the company that does the HR stuff for GS, it is a bit of both. It is mainly a personality/fit type interview with a good amount of financial questions in there, after all it is the finance division. However, this is for those with some experience as they came by my city hiring for the Middle/Back-Office/Support Divisions. For brand new minted graduates you would have to apply in the fall with everyone else, unless, they have openings you know of or they are specifically looking for someone.


Hawtness is a state of being, not how you look like... I'm pretty, so pretty...

 

I did one with the Salt Lake City, First round with an associate, mostly behavioral...might be asked about one of the current events that you follow in the capital market....make sure you read the journal.....

Live like an artist and work like an analyst......
 

I did one with the Salt Lake City, First round with an associate, mostly behavioral...might be asked about one of the current events that you follow in the capital market....make sure you read the journal.....

Live like an artist and work like an analyst......
 

Did a first round interview and a superday for the Salt Lake City office. Just be personable and you should be fine. all of my interviews were pretty laid back and the questions were an 80-20 split between behavioral/technical. Let me know if you need any more insight.

 
Best Response

Finance is Back Office. Compensation is dependent on location, best bet is to check Glassdoor for what office you're applying to. Many people shit on BO roles here but they pay above market average for their positions and you'll get out of the office at 5.30 most days while enjoying a pretty stress free career in comparison to the FO. Simple saying to go by is "FO make the money, MO protect the money, BO count the money"

 

Speaking from experience, you do get paid substantially more than market average but depending on bank and product group, the "getting out at 5.30 on most days" is highly variable. You can log lots of hours during important times (month end, quarter end, year end) and if the bank is a big player with regards to the product you take care of, it can get ugly (from a BO perspective). During my internship, half of the time I'd get in at around 8.30am and leave at 8.00pm.

 

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