Working for Goldman Sachs: Employment, Careers, and Jobs

Working for Goldman Sachs: Employment, Careers, and Jobs.
Working for Goldman Sachs provides various benefits.

Working for Goldman Sachs: Employment, Careers, and Jobs

This post provides exhaustive information on what to expect working for the Goldman Sachs Group, including employment, careers, and job opportunities offered by the Company.

Please, read on:

Goldman Sachs Company Overview

The Goldman Sachs Group, Inc. is an American multinational investment bank and financial services company that offers services in asset management, investment management, prime brokerage, securities, and securities underwriting.

Goldman Sachs operates through these business segments: Investment Management, Investment Banking, Investing and Lending, and Institutional Client Services.

The Investment Management segment consists of investment and wealth advisory services.

The Investment Banking segment offers financial advisory services and assists companies to raise capital.

The Investing and Lending segment involves making investment and investing and relationship lending activities.

The Institutional Client Services segment serves clients who come to buy and sell financial products; manage risks and achieve funding.

The Goldman Sachs Group, Inc. was established in 1869 by Marcus Goldman and has its Headquarters in New York City.

Why Work for Goldman Sachs

Goldman Sachs has obtained a sky high place in the world of investment banking today.

Building a career with the Company is a good idea, but you need to know how to follow things the right way for a better outcome.

Here are a few reasons why Goldman Sachs is a good place to work:

Leadership

Goldman Sachs develops leadership qualities in their employees for them to have the capacity to take on any challenge that comes their way.

The Company will groom you up in a very sensitive way so that you don’t join the group of some potential leaders who shy away from opening up because of stage fright.

Team Effort

Employee teamwork has helped Goldman Sachs achieve a big improvement in so little time.

The combined effort that the employees make day and night to keep the Company unparalleled in all respect comes from the endless love the Company has for its employees.

Other reasons you should consider working for Goldman Sachs include:

  • Perks
  • Brand culture
  • Correspondence
  • International partners
  • Parental leave
  • Keeping fit at work
  • Paid sabbaticals
  • Compact work schedule
  • Paid time off for participation
  • No partiality in employment
  • Diversity at work
  • Instant medical aid
  • College fee reimbursement and compensation
  • Care for employees
  • Reinforcing responsibility
  • Honest, ethical, and competent management.

Goldman Sachs Careers and Jobs

Goldman Sachs is looking for experienced professionals that believe in the power of the team, integrity, and leadership, and have passion for excellence.

Programs for Professionals

Goldman Sachs have established programs for professionals, these include:

Returnship Program

After an extended absence from the workforce, the Goldman Sachs Returnship program helps talented professionals restart their careers.

Various perspectives and backgrounds are valued at Goldman Sachs, and the Company’s aspiration is to see potential in every professional.

Those who left the workforce for two or more years and are ready to return can enroll in the Returnship program.

It is an 8-week program that offers opportunities in a diversity of segments and the possibility to experience the huge network resources at Goldman Sachs.

Veterans Integration Program

The Veterans Integration Program at Goldman Sachs gives service men and women who keep the military going an opportunity to strengthen their understanding of financial services, develop their professional skills, and get ready for careers in the industry.

Veterans Career Summit

This is a program that lasts for one and a half day in New York City where veterans who need more information about career opportunities in the financial services industry can participate in workshops and networking with Goldman Sachs professionals.

Veterans who are first year MBA students and all transitioning military members are eligible to this event.

If you are a veteran who wants a new challenge, you can take part in the program.

India Armed Forces Integration Program

The India Armed Forces Integration Program was launched in 2014 and provides officers joining the workforce after serving in the armed forces with an opportunity to prepare for future careers in the industry, strengthen their understanding of financial services, and develop their professional skills.

Eleven More Programs that the Goldman Sachs Offers
These include:

  1. Summer Analyst Internship
  2. Summer Associate Internship
  3. New Analyst Program
  4. New Associate Program
  5. Technology Apprentices
  6. Work Placement Program
  7. Off-Cycle Internships
  8. Divisional Spring Internships
  9. Success in the City Event Series
  10. A-Level Programs
  11. Goldman Sachs Women’s Events.

Goldman Sachs Training and Development Programs

Goldman Sachs recognizes that learning is a competitive advantage, and so gets committed to helping their people reach their full potential.

Maximizing the Potential of Goldman Sachs’ People

By supporting a culture of continuous development and building an innovative, diverse, and inclusive work environment, Goldman Sachs helps its people achieve their full potential.

Senior leaders of the Company host the firm’s learning programs which range from skills-based offerings and high-potential leadership programs to round talks and discussions.

Goldman Sachs University (GSU) is the channel through which new hires are given resources to speed up their integration, including access to digital learning even before the first day, and orientation programs laying an emphasis on networking and culture.

Junior employees attend classes that focus on building foundational professional and technical skills.

In addition, the Company offers an expansive library of self-directed digital offerings, in an array of a podcast series on understanding their businesses and eLearnings on communicating with impact.

The entire team members of Goldman Sachs get ready for the next step through tailored training programs emphasizing leadership and firm culture, at each career milestone.

Each year, nearly all employees take part in at least one classroom-based or digital offering, with analysts consuming more than 300,000 hours of training in 2016.

Goldman Sachs provides guidance and training on how to exhibit strong leadership, exemplify the firm’s culture, and manage people and projects effectively – for their more senior employees.

Vice presidents and managing directors are provided with skills training, individual coaching and networking opportunities by the Company’s nomination-based leadership development programs to help them to continue to grow in their careers.

Additionally, Goldman Sachs offers their most senior leaders leadership acceleration initiatives, executive coaching, and other training via Pine Street, their internal leadership academy.

Goldman Sachs promotes an environment that values diverse perspectives, challenges conventional thinking, and maximizes the potential of all of their people.

Goldman Sachs uses their annual and ongoing feedback offerings to make sure their people and their managers have the information they need to excel in their careers, while the Company’s pipeline development programs like the “Black Analyst Initiative” support their commitment to having the best talent at all levels.

Goldman Sachs Student Internship Program and Recruitment Process

The internship at Goldman Sachs gives you a unique opportunity to learn about the finance industry by working side by side with the professionals.

  1. Summer Analyst Internship

Candidates currently pursuing a college or university degree and are in their second or penultimate year of study can go for this program.

The program lasts for ten weeks and applications for 2020 open July 1, 2019.

Applications are reviewed on a rolling basis, and you’re encouraged to apply as soon as you are prepared because interviews can occur prior to the application period closing.

Goldman Sachs has an objective to inform you of your status approximately one month after each application period ends.

Orientation and Training

The starting point of the program is an orientation where you’ll be taught about the Company’s culture, and the responsibilities and benefits of being a member of Goldman Sachs.

The Company also offers division-specific training designed to help you succeed in your division.

Your Day to Day Activities

After training, the Company offers you real responsibilities to give you a sense of what you would be doing daily as a full-time employee of Goldman Sachs.

You will work alongside leaders within the industry, as well as with fellow interns.

If you become successful, you may be invited back to join the New Associate program in a full-time position.

  1. Summer Associate Internship

Students currently pursuing MBA, JD, PhD, MD, or LLM usually undertake the Summer Associate Internship program during the second or penultimate year of study.

This is a nine-week program designed to give you a sense of what you would be doing daily as a full-time Goldman Sachs employee.

Deadline

Goldman Sachs application deadlines differ by school. You can check your school’s career website for specific details.

Goldman Sachs offers summer associates all the opportunities and responsibilities of a full-time employee.

You will be given the opportunity to work with and learn from some of the most talented professionals in the industry over the 9 week program.

All interns partake of a one-day orientation where you’ll learn about the Company’s culture and the benefits and responsibilities of being a member of Goldman Sachs.

Goldman Sachs offers division-specific training designed to help you succeed in your division.

If you become successful, you might be invited back to join their New Associate program in a full-time position.

  1. New Analyst Program

The New Analyst Program requires that you learn about the business strategies of Goldman Sachs, build career-enhancing skills, and develop important relationships.

You must be either a final year undergraduate level student or graduate level student and must enroll full-time.

Deadline

Applications for the New Analyst Program for 2020 open on July 1, 2019. Interviews can take place before the application period closes, so you are encouraged to apply as soon as you are ready.

You will be notified of your status approximately one month after each application period ends.

The application deadline is Sunday 24 November 2019 and applications are reviewed on a rolling basis.

Goldman Sachs Corporate Culture and Values

Goldman Sachs has an amazing culture that gets employees respected for their work irrespective of their position.

There is good relationship between the higher management and lower management as you can walk up or book a catch-up with any of the senior managers at any time you feel the need for discussion.

The Company gives a different attention to analysts, and lots of exposure and growth opportunities are available, and also if you face any sort of issues your manager will certainly try helping you out.

Craig F. Noell worked at Goldman Sachs and has been gone from the Company for nearly 20 years, but he still believes in the Goldman Sachs’ incredibly strong corporate culture that makes it to be in business up to date.

Nadir Masood narrates his story of how he was a former Analyst at Goldman Sachs.

He worked at Goldman Sachs in Salt Lake City and had an amazing experience.

During his time, everyone worked together really well and understood that in order to be successful everyone has to work together.

Nadir later pointed out how management is extremely encouraging at Goldman Sachs and many have an open door policy. And Goldman Sachs puts a lot of effort in developing its people.

Goldman Values

Corporate values are often what attract and keep many employees tight to the companies they work for.

Greg Smith was attracted to Goldman Sachs 12 years ago by corporate values. These values include teamwork, integrity, humility, and always doing what is right.

Greg Smith began as a summer intern while at Stanford and ultimately reached the position of head of United States equity derivatives business in Europe, the Middle East, and Africa.

Goldman Sachs Job Application – How to Start a Career with the Company (the Hiring Process)

You can apply for one of the positions at Goldman Sachs, but before then you need to explore and learn more about the firm and its culture.

Plan Your Timeline

2018 summer and regular Analyst Program applications open July 15. Applications are reviewed and offers are extended on a rolling basis, meaning that all available spaces are filled by the company for some locations and divisions before the application deadline.

Choose Your Path

Tools such as GS Snapshots, divisional descriptions and people profiles are offered by Goldman Sachs to help you explore what it’s like to work at Goldman Sachs.

You can apply to up to 3 roles in combination of location and division. Reflect on your strengths and interests when choosing which divisions to apply to.

You are encouraged to learn about all of the opportunities at Goldman Sachs before you make a decision, as the same skills may translate to multiple divisions.

Connect With Goldman

Sign up at My GS Events through registration for Goldman’s in-person and virtual events such as conferences, information sessions, panel discussions, skill building workshops, networking events, etc.

Goldman Sachs offers a range of opportunities to learn about their firm both through virtual events and online.

So don’t worry if you’re not able to meet somebody in person.

There may be campus ambassadors at your school who can share their experience as former interns, and your school careers office can help you connect with alumni working at Goldman Sachs.

Use a consistent email address across all Goldman Sachs portals like event and job application.

Apply Online

It’s time to submit your application now that you’ve learned more about Goldman Sachs.

If you need help or technical support, just check the Company’s Frequently Asked Questions or email: careersfeedback@gs.com, although their application instructions are easy to follow.

To ensure you have all the necessary information, check out the Company’s Application Checklist.

You can save the progress of the application you’ve filled out and return at any time. Once you submit, you will not be able to make updates to your application.

You can hear back regarding various roles at various times, because the Company evaluates applications throughout the recruiting season.

Log into the application portal and check your application status anytime. You will hear from recruiters shortly after you submit your application to confirm it has been received, whether or not the Company is able to offer you an interview.

The Interview

All majors are encouraged to apply, as extracurricular activities such as work experience and academic standing will be considered when selecting candidates to interview.

If selected, you will be asked to take part in a virtual interview after which a team member will reach out with next steps.

Interviews can occur over the phone, at one of the Company’s office, or through pre-recorded or live video.

You can review video interview preparation resources, if available, and take a question.

As a first step in the interview process, engineering applicants will be asked to complete a technical assessment.

Some candidates may be called to interview for more than one division or office.

You may fall into working with various members of the recruiting team.

You may hear back regarding the roles you’ve applied for at various times as interview timelines differ.

Depending on the division, the Company typically conducts between two and five interviews for campus hires.

You can anticipate meeting a cross-section of people whom you could possibly work with.

Learn more about Goldman Sachs hiring process.

Goldman Sachs Benefits and Compensation

Goldman supports their people personally and professionally as the best way to engage and motivate their workforce.

The Company offers competitive benefits to help employees manage their overall health and financial well-being.

Compensation

The Company will review your compensation annually and may include discretionary compensation, salary, and certain local allowances, where applicable.

Factors, such as individual performance, divisional performance, and firm’s performance determine compensation at Goldman Sachs.

They spend a great deal of time ensuring that people get compensated appropriately.

Healthcare and medical Insurance

Goldman Sachs offers a wide array of health and welfare programs that differ according to office location.

These usually consist of medical, dental, life, accidental death, short-term disability, long-term disability, business travel accident insurance, and labor accident.

Retirement Planning

Goldman Sachs offers a collection of retirement plans and financial counseling services designed to support employees in reaching their personal long-term financial goals.

Holiday and Vacation Policies

Competitive vacation policies based on employee level and years of service are offered by the firm.

This is to add up to any number of public and statutory holidays.

Health Services

Goldman offers medical support service for employees and family members facing critical health conditions.

Through the Employee Assistance Program (EAP), the Company also offers counseling and referral services.

Goldman provides Global Medical, Security and Travel Assistance, and a Workplace Ergonomics Program.

They also offer state-of-the-art on-site health centers in certain offices.

Fitness

Some of the Goldman’s offices feature on-site fitness centers to encourage employees to live a healthy and active lifestyle.

They typically reimburse fees paid for fitness club membership or activity up to a pre-approved amount for eligible employees.

Childcare/Family Care

In some offices, on-site care centers that provide full-time emergency back-up care are offered by Goldman, as well as homework rooms and mother and baby rooms.

In each office, Goldman Sachs provides expectant parent resources, advice and counseling services, adoption stipends, and transitional programs for parents coming back from parental leave.

Leave of Absence

Additional marriage or civil partnership leave, family emergency leave and parental and adoption leave are generally provided by the Company.

Other Benefits

A comprehensive variety of other benefits that differ by office location, including reimbursement for certain entertainment, business travel assistance, scholarships, and support for education, meals, communication, and transportation are also provided.

Goldman Sachs Work-Life Balance

The Work-Life Balance at Goldman Sachs is rated a D- by 48 employees, putting it in the bottom 10% of similarly sized companies in the US.

64% of Goldman Sachs employees are satisfied with their work-life balance while 78% feel they are burnt out.

About 27% of the employees at Goldman Sachs work eight hours or less while 21% have a very long day – longer than twelve hours.

The majority of Goldman Sachs employees is satisfied with the work-life balance and feels burnt out.

In general, employees in the IT department and African American employees believe they have good work-life balance while employees of other ethnicities and employees with entry level experience think there is room for improvement.

Conclusion

If you are planning to start a career with Goldman Sachs and become successful, this post will help you get the knowledge you need to actualize this dream.

If you find this post helpful in learning about careers and employment at Goldman Sachs, kindly leave a comment in the box below.

You can also share any experience you’ve had with Goldman Sachs if you are or had been an employee of the Company.

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