Getting a job at Goldman Sachs is hard because many people desire to be employed there. In this article, we'll help you understand how to apply and get through interviews, and we'll also talk about what it's like to work there.
If you want to work at Goldman Sachs, you're aiming for a job that pays well. The company is known for paying employees a lot of money, but some people say it's tough because you have to work long hours and it can be stressful.
Keep reading for helpful tips on how to get your dream job at Goldman Sachs.
It is a goal of every person to work at the most renowned companies and Goldman Sachs falls among them. Goldman Sachs is one of the oldest and most prestigious investment banks on Wall Street.
With hundreds or thousands of applicants for every job opening, getting into this company is notoriously hard.
The study says that Goldman receives at least 300 applications at every job it posts while the hiring percentage remains 0.33%. But last year, the job application acceptance rates rose to 1.27%.
This indicates that there are enough chances for you to land your dream job at Goldman Sachs.
About Goldman Sachs
Marcus Goldman, a teacher from Bavaria, started Goldman Sachs in 1869.
It was one of the first banks to help new business owners with financing. Now, it's the second-largest investment bank and invests in companies like Spotify, Foodpanda, and Dropbox.
People who work at Goldman Sachs often go on to work in the government. For example, William C. Dudley, a former partner, became the president of the Federal Reserve Bank of New York in 2009 during the global financial crisis.
Other important former employees include Gary Gensler, who is now the chair of the US Securities and Exchange Commission, and Mario Draghi, who was the former Prime Minister of Italy.
During the global financial crisis, Goldman Sachs faced big losses because of its involvement in the subprime mortgage scandal, and it needed financial help. Since then, the company has worked hard to improve its public image. According to its information, Goldman Sachs has given over $2 billion in grants.
What's the work experience like for employees at Goldman Sachs?
Working at Goldman Sachs is an opportunity to join a global leader in financial services, with a diverse and collaborative culture that values excellence, innovation, and integrity.
Goldman Sachs offers various roles and responsibilities for professionals and students across different divisions, such as:
a. Investment Banking: This provides financial advisory and capital-raising services to corporations, governments, and financial institutions.
b. Asset Management: Manages assets for clients, including institutions and individuals, across various strategies, such as equities, fixed income, alternatives, and private markets.
c. Platform Solutions: Develops and delivers digital solutions and platforms for clients and the firm, such as Marcus, Ayco, and Marquee.
d. Global Investment Research: Produces original, fundamental research and analysis of industries, companies, and economies, to inform investment decisions and strategies.
e. Engineering: Applies engineering principles and technologies to design, build, and maintain the firm’s systems, platforms, and products.
f. Operations: Supports the execution and settlement of transactions, manages risk, and ensures compliance with regulations and policies.
g. Human Capital Management: Recruits, develops, and rewards the people of Goldman Sachs, and fosters a culture of diversity, inclusion, and well-being.
h. Corporate and Workplace Solutions: Provides essential services and solutions for the firm’s businesses and workplaces, such as real estate, procurement, travel, and security.
To work at Goldman Sachs, candidates need to demonstrate strong analytical and communication skills, a passion for finance and problem-solving, and a commitment to teamwork and excellence. The firm offers various programs and resources for career development, training, mentoring, and networking.
What are the Educational and Professional Credentials required?
Here are the education criteria for a job at Goldman Sachs in India summarized in bullet points:
- Bachelor's or master's degree in engineering from any stream.
- Minimum 60% or 6.0 CGPA in class 10th, 12th, and graduation.
- Less than 12 months of work experience.
- No arrears or backlogs in graduation.
- A valid Indian passport is required for Indian students studying abroad.
What Technical Skills do you need to acquire?
The technical skills required for a job at Goldman Sachs in India can vary based on the specific role and department.
However, recruiters commonly seek the following technical skills:
1. Full Stack Web Development:
- Proficiency in front-end and back-end web development technologies like HTML, CSS, JavaScript, React, Node.js, Python, Django, etc.
- Ability to design, build, and deploy responsive and user-friendly web applications.
2. Data Science:
- Capability to analyze, visualize, and interpret large and complex datasets using data science tools such as R, Python, SQL, Tableau, etc.
- Familiarity with machine learning algorithms, statistical methods, and data mining techniques.
3. Machine Learning:
- Application of machine learning techniques to address real-world problems using frameworks like TensorFlow, PyTorch, Scikit-learn, etc.
- Strong background in mathematics, statistics, and computer science.
4. AWS Cloud:
- Proficiency in using AWS cloud services like EC2, S3, Lambda, etc. to create, manage, and scale cloud-based applications.
- Good understanding of cloud computing concepts, architectures, and security.
5. Other Skills and Projects:
- Exposure to additional skills like C#, C++, SQL, Java, etc.
- Experience in working on various projects related to web development, data science, machine learning, and cloud computing.
Application and Interview Procedures at Goldman Sachs
When applying to Goldman Sachs, whether you're a student or a professional, the interview process involves several detailed steps:
1. Choose Your Program or Job:
Explore the various programs and job openings available on Goldman Sachs' portal.
Take the time to understand the different roles and opportunities the company offers.
2. Connect with Goldman Sachs:
To better understand the work environment at Goldman Sachs, candidates are encouraged to sign up for virtual or in-person events through My GS Events.
This provides an opportunity to learn more about the company culture and expectations.
3. Submit Your Application:
Once you've identified the program or job that aligns with your interests, proceed to submit your application.
It's crucial to use the application checklist provided to ensure that all necessary information is included.
4. Interview Process:
If your initial application is successful, you'll be invited to an online interview. The interview process typically lasts around half an hour.
Additionally, if you're applying for an engineering position, you may be required to complete a HackerRank assessment.
5. "Superday" at a Goldman Sachs Location:
Successful candidates from the interview stage may progress to the final step, known as "Superday." This involves attending a series of interviews at a Goldman Sachs branch.
This is a critical phase in the selection process.
6. Interview Preparation Tips:
Goldman Sachs is known for asking unique behavioral interview questions. It's advisable to research and practice responses to such questions in advance.
Stay informed about finance, investment banking, and the current happenings at Goldman Sachs. Keep an eye on the performance of GS stock in the market.
7. Technical Knowledge Importance:
Depending on the position, technical knowledge is crucial. For instance, if you're applying for a financial analyst role, be well-prepared for financial analyst interview questions.
Demonstrating proficiency in relevant technical skills is essential for success.
8. Highlighting Unique Qualities:
Goldman Sachs values candidates who bring something unique to the table. Remember to highlight experiences and skills that set you apart from other applicants. Clearly articulate how you can contribute as an asset to the specific role you're applying for.
What is the Selection Process?
Here is how the Candidates are Shortlisted:
1. Online Test
| Type of Sections | No. of Questions | Time Limit (minutes) |
|---|---|---|
| Coding | 2 | 30 |
| Multiple Choice | 10 | 30 |
| Advanced | 1 | 45 |
| Subjective | 2 | 15 |
2. Technical Interviews
After passing the written test, candidates have 2-3 face-to-face technical interviews. These interviews cover various technical topics like data structures, networking, algorithms, database management, and programming languages.
They also ask about the candidate's internships, projects, and training experiences.
3. Telephonic Interviews
Afterward, there are 1-2 phone interviews. In these, the interviewer assesses the candidate's basic knowledge, focusing on the subjects from their college courses.
Questions may also touch on the specific role the candidate applied for.
4. HR/Managerial Interview
This is the last step in the Goldman Sachs selection process. In this interview, they want to understand your personality.
You'll be asked about your values, strengths, weaknesses, career plans, family background, and the details mentioned in your resume.
Perks and Benefits of Working at Goldman Sachs
Joining Goldman Sachs means enjoying a package of exceptional perks and benefits, including:
- Competitive compensation with performance-based bonuses, and rewarding your dedication and achievements.
- Comprehensive healthcare and insurance coverage for you and your dependents, encompassing medical, dental, vision, disability, life, and accident protection.
- Engage in financial wellness and retirement programs, offering savings and investment plans, financial education, and strategic tax assistance.
- Prioritize your well-being with on-site fitness centers, medical advocacy, counseling, and ergonomic support through our wellness services.
- Receive tailored support for personal and family responsibilities, including on-site childcare, emergency backup care, and dedicated mother and baby rooms.
- Enjoy exclusive perks and discounts on a variety of products and services, spanning travel, entertainment, education, and beyond. Embrace a workplace that cares about your holistic well-being and success.
Top Work Opportunities Available at Goldman Sachs
The lowest average salary one can expect at Goldman Sachs is Rs. 4,00,000 per year which can go as high as a maximum of Rs. 1,00,00,000 yearly (as per Glassdoor).
1. Executive Office - Office of Corporate Engagement - Vice President - Bengaluru
As a Vice President in the Executive Office at Goldman Sachs, focusing on Corporate Engagement, you'll lead important initiatives.
Your role involves guiding partnerships, contributing to the firm's engagement efforts, and using your expertise in corporate relations.
Join our dynamic team to make a meaningful impact.
Salary: The standard salary for a Vice President at Goldman Sachs is 38,77,615 per year. However, Vice President salaries at Goldman Sachs can fluctuate, spanning from 1,53,150 to 1,17,45,000 annually.
2. Asset & Wealth Management Operations - Client Onboarding & Configuration - Associate - Bengaluru
In Asset & Wealth Management Operations - Client Onboarding, oversee the smooth integration of clients.
Manage account configurations, validate data, and streamline onboarding processes for an enhanced client experience.
Salary: The salary for a Client Onboarding Analyst at Goldman Sachs in India varies between 4.5 Lakhs and 6.5 Lakhs.
3. Global Banking & Markets Operations -Position Control - Analyst - Bengaluru
As an Analyst in Global Banking & Markets Operations - Position Control, you'll contribute to accurate position reporting and strategic decision-making in the dynamic global finance sector.
Join us for impactful work.
Salary- The annual salary for the role above is Rs. 13 Lakhs on average in India.
Employee Review
- The people are smart and getting funding for projects is a lot easier here than in other places I've worked
- Culture is great; everyone is on top of their game and helpful at the same time
- Good pay and bonus for full-time employees Free transport and Canteen until March February 2023
- Work-Life Balance ( Practically no work-life balance sometimes work is about 12"
- "Some teams work long hours and are understaffed but this is typical in banking not specific to GS"
Dive into more articles within our Get Hired for a comprehensive exploration.
Those who are looking to land an interview with this investment company can upskill themselves with our Curated Course!
