Goldman Sachs Jobs: How Graduates Get Hired
Вставка
- Опубліковано 2 тра 2014
- Goldman Sachs only accepts around three percent of job applicants. Who gets hired? How much are they paid? WSJ's Jason Bellini has #TheShortAnswer on what college students considering investment banking should know.
Subscribe to the WSJ channel here:
bit.ly/14Q81Xy
Visit the WSJ channel for more video:
/ wsjdigitalnetwork
More from the Wall Street Journal:
Visit WSJ.com: online.wsj.com/home-page
Follow WSJ on Facebook:
/ wsjlive
Follow WSJ on Google+: plus.google.com/+wsj/posts
Follow WSJ on Twitter: / wsjlive
Follow WSJ on Instagram: / wsj
Follow WSJ on Pinterest: / wsj
Follow WSJ on Tumblr: www.tumblr.com/tagged/wall-str...
Don’t miss a WSJ video, subscribe here: bit.ly/14Q81Xy
More from the Wall Street Journal:
Visit WSJ.com: www.wsj.com
Visit the WSJ Video Center: wsj.com/video
On Facebook: / videos
On Twitter: / wsj
On Snapchat: on.wsj.com/2ratjSM
Narrator: "Like travis who studied ethics, politics, and economics.."
Me: Ohhh I majored in Econ!
Narrator: "...At Yale"
-____-
yale is gay
LOL
Basically, you need to graduate from Ivy with finance related major, then do an internship in related field and like it.
They hire a lot of people from all over the world. In the US they hire extensively from small colleges and even state colleges.
or you can be a minority
Not necesarilly, both my bother and sister went to State colleges and got job offers from goldman sachs and various other banks. In the end, my sister went with Merril Lynch and my brother with JP Morgan. Both went to state colleges and both got hired at extremely competitive jobs
@Michael No he's right. If you're not an Asian male or a white male, your odds of getting hired are a lot better.
@@AlexSmith-uu2yh I'm doing my degree in CS. How can I go for IB? Please give some tips.
Seems like a lot of trouble for $80K starting salary in NYC
Most workers will make 200k+ after around 6 years from being an analyst...
@Colin Senick half a mil???? As an analyst? How?
⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻ ALPHA ASF
Mehul Parashar by 27 you would be vp
Admittedly this is over fifteen years ago but then, I knew two people who worked 90 hour weeks for 18 months with no holiday, they would skip the breaks to keep track of their projects, all for only £8,000 a year. However, at the end of their third year the bonus to them each was a nice fat cheque for over £1,000,000. The whole point was to weed out the weak & entitled, to draw out the grafters, the hungry, the determined to succeed, the ones that would stick around and show loyalty. Survive the first three years and your payday came good, from there on in they where on a minimum of £150,000 a year plus bonuses
forgot nepotism for a recommendation
do u guyz accept gender studies majorz?
Lol, that's financial suicide
***** .
Nice try. Gender studies majors are all Bernie and Hillary supporters.
Max Cruz lol
you mean feminists? I sure as hell hope not!
Does working at Goldman Sachs increase your chances of getting a reservation at Dorsia? Asking for a friend
underrated comment
No, we have to filter through all the riffraff. The only way you're getting a reservation if if you're either VP or higher
Another way to do this is if you go to a state school. Major in accounting and go into transactions at the big 4 accounting firms. Then you can probably go to Goldman from there. However extremely competitive. Or you can try to do an operations role with a data science background or a comp sci background.
Very sad that i didn't know what i wanted to do in high school. I would have tried harder and gotten into a better university :(
Get your gpa to 4.0 and transfer to a target school. It’s never over, only time it becomes impossible is when you give up
@@Shinesaur inspirational asf dude
Me Too mate though you commented this 2years I wish i thought what you said at the same time
Those students who supposedly have an interest in finance should read "Why I Left Goldman Sachs" by Greg Smith.
Thanks for the info. I appreciate the video and spreading info.
Its actually very true, a lot of these top companies target ivy league graduates. Its actually very easy to get an internship and full time offer if you graduated from an ivy league and with leadership experiences(join clubs). But they also target good schools that are not ivy leagues.(Not a lot tho)
Not true at all. I go to an ivy league and it's still hard to get into goldman even with military/leadership experience
Second rate school and run your own Portfolio and you shoild be good?
@@grahambutler734 personal portfolio doesn't matter, never came up once in my interviews. But it does help if you're active in a investment club at your school and help operate a student run portfolio.
@@kkuo13 well he didn't say it was easy
It's still easier to get a graduate job in the States.
Here in the UK you need to go through countless levels until you even get to the interview. The following recruitment process is being used in the UK to recruit Analysts at Goldman Sachs.
1. Online Application (consists 4 questions with 300 words each to express your motivation)
2. Online Tests (Numerical, Analytical, Logical)
3. Motivation (They contact you to ask you to fill another section of your application. Not that you didn't fill 1200 words already)
4. Telephone Interview (Competency-based questions)
5. Assessment Center (20 applicants doing group exercises)
6. Final Interview
7. Offer
All this starts in October the previous year to recruit graduates in September next year.
Moff Vlogs haha lol
Moff Vlogs try getting a job on Wall Street my friend take what you have written multiply it by 60 and value yourself as a piece of dog shit stuck to the bottom of a pair of Sketcher sandals
+Moff Vlogs That's easy as hell
Gracias Mr. Dylan es la mejor respuesta o comentario efectuado.
When the question "Will they look at your grades?" came up and he paused, I was hoping it would be a trick question. Then he answered "of course" and I was back down to reality.
And here I'm getting rejected by call centers in new Zealand
I appreciate Goldman Sachs interest if any, but they haven't reached out to me. My primary interest in Goldman was as an investor, not an employer/employee. I plan to move forward as Founder and CEO of CA Enterprise, LLC.
Heyo I got an offer from them! They forgot a thing in this video. Network!!!
Nice video!!
I served in the military until was 23 and now I am currently thinking about transfering to either university of michigan or columbia university. If I transfer to umich, they'll accept all my credits and ill be done with school when I turn 26. However, if i go to columbia, i probably wont graduate until im 27. i'm thinking about just going to umich. I'm not really sure if i want to pursue a career in investment banking. I hear its miserable and you literally have no life, just work all day every day. And it takes several years to actually start making in the upper 6 figures.
If you're not an ivy league graduate and still got employed by a major ib, then please share your process and how you did it .
You can't be FAT!
@@gurdeep1431 lol what ?
not an american school but still a target school for major IB. It's a target school for a reason, almost everyone here wants to go into finance. Our alumni's work there, 4th years interned there, upper years will give you the cheat sheet to get in and after you get in you pass that cheat sheet to younger years, the cycle continues. They teach you how to write the perfect resume, how to dress, how to talk, how to network, when deadlines are. In some ways it's suffocating, but yea...
How's the ethics working out for you, Travis? 😂😂😂
John's Fitness and Strength pretty well I’d imagine
John's Fitness and Strength Considering he's been employed by GS since 2012, I would assume better than you. The real question is how's that reading comprehension been working out for you😂
Liberté Egalité Fraternité *He got a degree in Economics from Yale*
@@sixfingerssaidtothefacepow34 Goldman's stock is up some 20% so I'm guessing dude's probably clearing $350k plus stock appreciation
Can I retake my SAT score if I’m already in college?
They look at HS SAT scores? Wow am I glad that I studied so hard for that test
Facts my 1560 coming in clutch
I did bad on that. Does that mean it’s too late ?
thats interesting because one of their hr managers said they dont care how good you are at finance. a bit ambiguous dont you think?
They want someone who can be mould according to their liking.
They should be the best in their discipline of academics
People are drawn into a Goldman Sachs Jobs not because solely for the pay but because of the idea that it's hard to "get in" and it sort of challenges many people aside from it sounded prestige.
Will you guys expand your operations in Rwanda? I would love to work in a challenging environment that will enhance my skills and career goals.
they will no respond to a comment and this channel is not run by GS but reach out to employees in your area via linkedin
Just received my offer for a summer analyst at Goldman Sachs. I do not have a finance background and nor am I a math/stats major. Superday was very laid back and pleasantly calming. No trick questions, no gimmicks.
Congrats, enjoy spending your whole summer doing nothing. Legit a Goldman Sachs internship teaches you nothing, all you do is shadow people all day, network, and that is it. You will also notice that most of the other people that are summer analysts are complete dumbasses who have no idea what a basic regression analysis is.
-someone who has grown up with these idiots.
Although the program seems great I decided to not move forward and accept the offer.
@@adampauley2767 If you can pass on their numbers..
@@abpreetkaur1041 why ?
Why the applicants need to submit SAT scores????
I am currently holding a Bachelor's degree in Mathematics and planning to pursue postgraduate studies. I have been made two offers; from LSE - MSc in Financial Mathrmatics and from Bristol - MSc in Finance and Investment. I desire to pursue a career as a Financial - Quantitative Analyst, working for brokerage firms or banks. Which of them should I choose to follow? I appreciate your help a lot!
LSE
High school SAT scores? Ok so I go to undergrad and Masters and do amazing but I submit my SAT which sucks and get rejected for it? A lot of things change for in 6 years especially after college
Mondo Music Pretty sure the sat score is one of many factors that they look at lol. It's not a make it or break it factor
Allow me to answer how ppl get in in less than 2.5 min. Are you from an Ivy League school? Yes? You might have a shot. No? Good fucking luck. No.
Not true at all. Top schools like University of chicago, Amherst, Georgetown, NYU's Stern undergraduate college are all prime targets for firms of Goldman Sach's stature.
"Ivy League" is simply a name for the 8 schools in the same athletic conference.
***** I get what you're saying, but there are a few non-Ivy league schools which have just as good or better placement rates than the Ivies. MIT Sloan, UMich Ross, and NYU Stern are prime examples who send many students to BBs and elite Botiques every year.
Currently I'm actively debating between majoring in computer science and finance, as I like both subjects quite a lot. My inclination however is to go for computer science as I am slightly more interested in it and have a feeling that the job prospects are better with a comp sci degree. If I do do this however, will it be possible for me to break into investment banking at a decent bank? (Maybe with an MBA?)
Samvit Agarwal cs all the way. Finance is limiting
Have you looked into quant finance? Best of both worlds if ur interested. The top quant funds are filled with some of the most accomplished computer scientists, engineers and physicists in the world
yes but all those finance people like quaint had post grad degrees
Dude are you still alive? how did your life turn out?
I have lot of in trust to join investment banking jobs, because it's amazing and most passinating jobs. Hopefully i get throught one day!!
They look at SAT scores? I'm screwed.
Get your tutor to look at them first😉
Great place for overachievers. :D
Reporter is best.
Most important unwritten qualification: You must be good looking.
Unfortunately, that's not true.
Based on the images this video has shown, I don't think so
GS hires a lot of college athletes and people with a boatload of connections. For various reasons, these type of people tend to be more attractive than the general population. That being said, such a correlation does not imply causation!
Then I'm in
@@ilipan2668 yess
Shareholder education, perhaps.
Me: Would Goldman hire me ? My name is Jeff.
Is your name " Jeff Goldman " ? It might work
70 to 80 grand ... seriously!!! Car salesman can make more than that
It's all about who you know!
Can you get hired there if you didn't go to an ivy league school or something of the kind? My inclination is to say no.
***** lol dude I was jokin, I'm sure if you're good enough they'll give you a chance
The best way for them to secure bright- hardworking people is to look inside the Ivy Leagues. It's a safe bet for them. However, if you want to show them that you are just as good then you would eg.
Start a blog or Website
Where you submit your own personal research papers and written summaries followed by your Predictions, Data Tables, etc
Then, after you've proven that your strategic models could work well for investors you could sell your website for the employers to check out. It would be easy for them to look at your work objectively and decide whether you have the right stuff for the job (Financial Anylyst). This is a good way to sell yourself to them as an intelligent-diciplined person.
Others will have to rely heavily on their University Prestige and GPA avg.
The best way for them to secure bright- hardworking people is to look inside the Ivy Leagues. It's a safe bet for them. However, if you want to show them that you are just as good then you would eg.
Start a blog or Website
Where you submit your own personal research papers and written summaries followed by your Predictions, Data Tables, etc
Then, after you've proven that your strategic models could work well for investors you could sell your website for the employers to check out. It would be easy for them to look at your work objectively and decide whether you have the right stuff for the job (Financial Anylyst). This is a good way to sell yourself to them as an intelligent-diciplined person.
Others will have to rely heavily on their University Prestige and GPA avg.
Be personable. Yet they want you to know their stocks, and what they’re up to
those are not contradictory.
Is this still true today ? Or has it changed ?
RAN on the ASX. 99% down. Good investment??
This is bullshit, I know a guy who was mediocre and did not possess a superb command of the English language at my university and he got into goldman. The statistic probably hides the fact that almost all of the "applicants" applied via internet as so many people adecuate/non-adecuate apply
rather work at j.p Morgan they have more revenue. But Goldman's more competitive.
jpm is king of banks rn but goldman is much better place to work. jpm is notorious for longest ours (110-120 per week in IBD), whereas goldman is embracing tech attitude of more casual wear and branching off from your main role to shine in other areas.
Who wants to? 100+ hours a week.. Pass
ppl who are interested in finance, want to make money, and have ambitions for success
what college would be best for Goldman for graduate school students
andrew brown Harvard, Wharton, Yale etc
andrew brown IVY league for Goldman fam.
Wharton
All of that for 70-80 large at GS offices in some of the most expensive cities in the world in terms of cost of living? Possibly doubled by a bonus if you work enough 18 hour days in a row? But you get the thrill of closing high-profile, high-dollar deals, which will enrich only the executives plus that soul-sucking feeling when you aren't helping anyone, creating anything, or adding value to our society! Am I jealous? Nah. I'm my own boss and I make more working 4 day weeks than 90% of the people at GS.
Swr88 What do you do?
@@PharoahsKingdom he's a pimp
90%? Most of the workers are at VP level. And VPs get paid $400k to $1m depending on their performance.
Banks provide liquidity to the market place and give large corporations financial advice(like Google/UA-cam and probably the company that made the computer that you're typing on right now). Without them, the world economy would literally not function.
GREETINGS AND LOVE FROM RAVINDER TALWAR JALANDHAR CITY PUNJAB INDIA
Wish I'll get a chance in my next life atleast :(
how old r u
His 27 something.. I think he kinda changed his mind about this and going to mars :p
If your clever and qualified and want to do this kind of thing, go and work for a decent hedge fund and be a trader, that's where all the big money is since the crash, investment banks have had their day. The days of massive bonuses are long gone, and your literally signing up to spend 12 hours a day watching algorithms make decisions for you.
Alan Fletcher Too bad few of the kids who go to those cushy Ivy League schools realize that. If you actually have a passion for finance and related subjects, you'd know that working for a hedge fund is way better.
Both of you are misguided. Working in a hedge fund is often a goal of many of these students, but one can't simply go up to a hedge fund with a diploma in hand and expect to get a job. Working at a hedge fund generally requires a significant amount of prior financial experience, and IB is a common entry-level job that many will participate in in order to transfer over to the buy-side (hedge funds, etc.)
I never went to fancy uni and never worked in bank but im 110% I m better trader than all of you combined :))))
If I double Major in finance and econ do i stand out ? What if im sum kid from the ghetto that paid for college using the stock market ?
What university? Forget it if you don't go to a top university. You also need connections and relevant work experience.
Profound Regards From Dr.RAVINDER TALWAR
I work at BlackRock as an analyst and I get paid 73K....
Max B Did you get straight in Blackrock from Uni?
Only?
Dan HK Ye 73k a year is a joke. I’m 18 and make more than that as an online entrepreneur let alone from other ventures
kyle k for sure buddy
RG3 FC You do realize it's extremely easy to make six figures if you start an online business...
Just Look for what makes you rich. Trust me. Only that matters.
do i need any previous experience in scamming people. or will i just learn as i go?
-bab- bab Just make sure you're innocent and able to be corrupted, and it's all good
who did they scam
Ethics at Goldman Sachs ??
they keep him around for congressional hearings
instructions unclear got accepted at JPMorgan Chase
I worked at GSAM, most of this is false
What are false? The pay, recruit or the race that are shown.
how it false. seems like pretty standard stuff all BB do in recruiting.
Yes! Baby 500k bonus yeah!
or you can just find another job and be an entrepreneur
Have a question for some of you guys out there that work in a large investment bank. I have a bachelors in physics and will have a Masters in applied mathematics in business and economics. Do you guys think those are good qualifications? Be honest. Thank you if you reply.
Since maths plays a HUGE part in some areas of finance, i would say you have a solid base in which to build.. But you'll need to start walking towards finance, if you catch my drift..
@@Juan.Blanco and with applied mathematics to economy and business will give me that finance base right?
depends more on the school and your internship experience tbh, your degree is unlikely to be useful outside of quant (banking is not a very technical/mathematical job - everyone can use excel and Bloomberg)
Good morning sir
Accept philosophy majors ?
Probably, actually. Philosophy is actually a pretty difficult major and can showcase critical thinking
you heard the colleges and mention Yale Dartmouth if you can go into these Ivy League schools don't even try applying there's a man on UA-cam called Aaron clarey check him out
@Michael you're grammar.... Follow your own guidance.
Trust me, you dont want to do this
wow!.
Good morning
I know plumbers making more than 80k lol. Don't waste your time if you are not making over 150k starting out.
I’m glad I chose medicine over finance
@@riashadbro more money in a job in medicine than finance
@@riashadbro did you work in both? what did you specifically?
@@riashadbro where at and what industry/product group?
@@riashadbro gotchu. I'm working at HSBC this summer (virtual) and entering my senior year of undergrad. Congrats on graduating (I'm assuming). Why is it you like the medical field more?
@@riashadbro why did you do IB then?
Graduate yale with $299,999.00 debt then work at Goldman sack for $70k a year
No one graduates from Yale with that much debt because 3 quarters of their students are from wealthy families and the other quarter are given full scholarships. And they make 160k minimum after bonuses at GS.
Salaries increase over 15% every year. At the associate level, you start at 150K + bonuses and thats just the tip of the iceberg.
Wait a decade and get paid near half a million.
Actually, the average amount of debt for a Yale graduate is only about $8,000 which is literally lower than the amount of debt for the average state school graduate. And the $70k is just the base salary, the total amount(including the yearly bonuses) is around $120-140k which averages to about $10-12k a month. With that amount of money, the average Yale graduate could pay off all their debt in just their first month of working at Goldman. Crazy huh?
I Love America and all Americans
Do they have to turn $3M in revenue to get $160k? I can see why the inequality people who seem educated rarely discuss the distortion directly. The distortion is clearly that there aren't enough rich people and some rich people are way too rich, to the extent that it seems... that is a major problem. I can see why this wouldn't be a great political line of thought. And we're just talking income here, as far as I know, not inherited wealth. Thus, we have, at the super low end, people being excluded from the market by minimum wage, and at the high end ultra-wealthy people excluding people from the luxury market. That's millions more people, who, rather than going out to eat every other day, might hire a servant like only super wealthy or deeply in need (caretakers) people do otherwise. It makes private schooling more difficult... all kinds of stuff... more difficult. It's a real distortion and I expect the government may need to eventually collect massive international power to fix it, because I doubt many businesses will partake. The lack of rich people creates the oligarchy or the feel of oligarchy.
Only 50.000$ per year or month?
Valentin Svensberg year at the beginning (actually 70 k) and you get fat bonusses
Not with my Gold. Blackstone
Classism at it's finest
who would even want to join goldman when u have mckinsey with better hours
What are the hours? Is the salary still good?
Are you talking about Mckinsey & Company here in Dallas, TX?
Probably better on hourly basis than banking
It's all nepotism.
I'm 14 years old and becoming an investment banker is my dream job. I really want to get into trading, but I don't have much money. Is there anything I can do to help myself get where I want to be?
+MysteriousGamer go to an Ivy League. That should be your number one priority.
+MysteriousGamer Being passionate about the subject is a great first step! It's much easier to learn about things you're interested in. Interviewers love when you know a lot and can show your passion in a professional way. You do not have to go to an Ivy League university - I'm a senior at a state college and I still got in. What you should do is keep you GPA high, get good test scores, participate in high school and college extracurriculars and leadership opportunities, and keep your eye out for internships! Internships are the best way to get your foot in the door. Also, be aware that investment bankers have a different function than traders, though both are finance-related. There are plenty of stock market simulations you can use to practice trading, like TD Ameritrade's Paper Money, that you can download and use for free. Hope that helps!
Don't be an investment banker more than likely you won't ever become a trader at an investment bank, I'm 18 and considered it but the pay after tax and having to pay rent in a city like New York is absolute hell
I am also 14 and want to become a trader at Goldman Sachs. I just don't know how I could afford Harvard or another good university
Der Boss never doubt yourself, you will make the money back in the long run. It will set up your foods as well if you ever have some. DO NOT ASSUME IT WILL NEVER BE PAID
Comcast has 1 million applicants a year...
R A hahahahahahaha
Walmart has even more, their acceptance rate too is like 3%
I have a degree in the gender pay gap, can I get in?
I worked for Goldman.... in the mail department.
In is in.
Lol
Long Live Indian American Friendship and Mutual Understanding.
All that for $70-80k ? Lol. An apprentice electrician where I live can make 80k into their 2nd or 3rd year..
Your not too bright. Its not the salary that drives people to investment banks, Its the MULTI MILLION DOLLAR BONUSES.
After 3 years be sure that most GS employees' salaries+bonuses have shot up to around 200k+ as an associate.
ur year end bonus doubles ur salary bro
I am an commerce graduate from India, how will i get the job there?
It's really not as hard as you are all making out. You do not necessarily need to go to any Ivy League College nor be a rocket scientist.
Dont waste your time getting a job at Goldman Sucks! Buy their company, own their asset & control them.....!
You should probably focus on making yourself rich instead of applying to the insane asylum.
So, do you want to work for the devil?
+Metrowhite tons of money and opportunities ? why not ? We are finance people =))
Sure. If it pays well.
Give me if it pays!
I will sleep by his side!
In other words, FORGET ABOUT IT. You have a better chance of flying to the moon.
I didn’t know over 3,000 people fly to the moon every year
Kirdneh You'll be surprise with everything the government hides from us. Top-secret projects and what not, it's easier to suggest you can fly to the moon.
@@kirdnehh I didn't know some people already lived on the moon.
what course required to be an investment banker?
Siew Meng what degree is important?
I mean what type of university course is required to be an investment banker?
Siew Meng finance
There is no required course or major. Typically BB investment banks like to hire people with quantitative majors like engineering, physics, etc. A degree in finance is not required because at ivy league schools (where Goldman and other firms hire the most) most don't have undergraduate business programs so most just major in economics, history, etc. Whatever you major in you need to make sure your GPA is 3.5+
ty very much.. really helps =)
My dad works at Goldman Sachs 😊
KeiraRa K so he is a professional fraud
Hello sir
Almighty God bless everyone 🙏🙏 in the Global World based on Friendship, Mutual Understanding, Peaceful Coexistence,Non Violence and Justice For ALL.
next: how graduates get fired
Sore lips, dry mouths and cramp.
Too big to fail. These big banks should be broken up.
Looks like someones butthurt because they didn't get a banking gig
That's called the Fed..
So if you suck at school then what ? Lol
I heared you gotta be a certain level of good looking aswell.....😑