Goldman Sachs Investment Banking Summer Internship

Date:

Summer Analyst Intern Programme

Day in the Life of a Goldman Sachs Investment Banking Intern NYC
  • 20 November 2022

    Applications for Engineering will close on 31 January 2023

    All Warsaw Roles and EMEA Off Cycle Internship Programmes Deadline: Rolling .

    We review applications on a rolling basis and encourage you to apply as soon as you are ready because interviews can occur prior to the application period closing.

    Our goal is to notify you of your status approximately one month after the application period concludes.

  • Eligiblity

    Eligible students will fulfil one of the below criteria: In their penultimate year, or currently enrolled in a Bachelors or Masters degree programme and due to graduate between May 2023 and July 2024. FICC and Equities considers candidates graduating in 2023 and 2024.

Top 4 Tips For Bossing Your Internship From An Investment Banker

Once youve landed an internship position, youll be looking to secure a return offer to become a full-time analyst. We asked an M& A banker at a global US investment bank to share their top tips on excelling in an investment banking internship. Heres their advice:

1) Be Able to Learn Quickly & Ask Questions

It is likely that you will make a few mistakes along the way, were only human. However, investment bankers will be looking to see whether you are able to avoid making the same error twice. As soon as you suspect something is wrong, ask for help.

2) Be Diligent and Demonstrate Attention to Detail

It is essential that you take precautions to avoid making mistakes in the first place. Ask for a peer review from another intern or print out your work and check it before submission. This will show the full-timers that you care about delivering the best result.

3) Be Curious

The whole point of taking an internship is to learn as much as you can about the job role and all it entails. You must ensure you listen where necessary, and always possess a good attitude.

4) Demonstrate a Willingness to Work

You need to pull out all the stops if you want to differentiate yourself from other interns. Investment banks value self-starters so always seek out new work and exceed expectations.

Goldman Sachs Internship 2023

If you are interested in pursuing a career in investment banking, the Goldman Sachs Internship program is a good starting point for you. It is one of the worlds leading investment banks, providing a wide range of services to clients around the globe. The firm has a long history of success, and its internship program is highly competitive. Some of the programs here include sophomore, summer analyst, strats, SWE, software engineering, asset management, and investment management, as well as spring and summer internship program. However, based on CNBCs source, the acceptance rate of this firm is only 1.5%. Still, its a great opportunity to begin building your network in the finance sector and gain valuable experience. We advise our readers to read the further information below and apply for this opportunity before the deadline approaches.

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What Not To Do In A Virtual Interview

During the depths of the COVID-19 pandemic, students participating in virtual recruiting for investment-banking and hedge fund internships were often aided by a little trick up their sleeves: digital cheat sheets.

If you’re participating in any virtual interviews this year, using this hack could be tempting but students should think twice about trying it, because those who got caught were removed from Wall Street recruiters’ lists last year.

As Lazard’s head of campus recruiting recently explained in her interview with Insider: It’s OK to get tripped up in the interview process. It’s how you handle it that will determine whether you make it to the next round.

Don’t pretend you know the answer and definitely don’t cheat.

What Is An Investment Banking Analyst

Internship in Goldman Sachs: Summer Analyst

Many investment bankers start their careers as financial analysts. This is the entry-level position for graduates looking to break into investment banking and is a two-year long program, which begins in the late summer. If the analyst performs well this may extend to three years, and later to associate level.

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Internship Role & Context

Before we start, a little background information â the investment banking division at Goldman Sachs is split into two main sections, advisory and financing. Advisory is advising companies on what they should do with their money, so this involves mergers & acquisitions, restricting and activism. Whilst, financing is concerned with raising money for a company, so has to do with structured finance, equity offerings, and leverage finance.

Depending on which side youâre in, your schedule will vary. For those in financing, the average day starts about 2 hours earlier, as itâs linked to the market. In New York, the markets open at 9.30am so financing employees have to be there well ahead of the opening to prepare for the day ahead. On the other hand, whilst advisory departments typically arrive two hours later, the hours both sides work are similarly long.

Programs In Goldman Sachs

Programs for anyone aiming to work at the top of the top investment bank are categorized into 3 main types:

Summer Program

Goldman Sachs summer internships are the most sought-after programs for both undergraduates and graduates. While the Summer Analyst Program only accepts college or university students, the Summer Associate Program is designed for candidates pursuing an advanced degree such as MBA, JD, MD, or LLM. Despite lasting for only eight to ten weeks, summer programs are the entrance tickets to its full-time positions. These programs are important for Goldman Sachs as this firm believes interns could bring a fresh perspective to projects working.

Relevant finance experience are preferred

2 5 years of relevant work experience

Full-time Program

New Analyst Program and New Associate Program are the doors to the investment banking industry for final year students. The New Analyst Program is open only for undergraduate students level while the New Associate Program requires students with two to five years of experience and an advanced degree.

Besides direct application, another way to secure a spot in these programs is through the Summer Program. As a rule, students who were offered the summer Goldman Sachs internship position with superb performance during the 10-week long summer are automatically considered for these Full-time Programs. They can even get the opportunity without going through a competitive application process.

Exploratory/Diversity Program

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What Is The Most Prestigious Finance Internship

According to a Firsthand survey of 11,400 interns, Goldman Sachs offers the most prestigious finance internship. In 2022, the firm received a record 236,000 applications14% higher than the previous year.

Following Goldman Sachs is J.P. Morgan, which received 50,000 intern applications in 2021, and Morgan Stanley.

What Is An Investment

My Goldman Sachs Resume for Investment Banking

As investment-banking interview rounds advance, candidates may be called into “superdays,” which indicate that a search process is nearing its conclusion. Sometimes, banks even fly and pay for lodging for their top out-of-state to travel to New York or wherever the company is conducting its superdays, in order to meet those candidates in person.

Superdays are competitive, rapid-fire sequences of interview rounds, which are typically conducted by senior bankers such as managing directors and vice presidents. They’re intense, and candidates should expect worldwide experiences meeting and trying to impress multiple company leaders in a relatively short period of time.

Insider obtained two lists of questions developed by Goldman Sachs and Morgan Stanley, which can help you think through your interview prep strategy.

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Most Prestigious Finance Internships

Top firms attract thousands of applicants each year

Every year, top financial firms attract thousands of applicants for internship roles. In early 2022, Goldman Sachs reported 236,000 intern applications, a record for the company. With an acceptance rate of just 1.5%, the company accepted 2,900 globally in 2021.

For those pursuing a career in finance, an internship at the top banking and investment firms is highly competitive given the opportunity to break into a high-paying field. While interns at top firms can earn over $80,000 on a prorated basis over a 10-week period, landing a job as a full-time junior banker can pay up to $150,000 in the first year.

Overview Of Investment Banking Internship Programs

Most investment banks offer an investment banking internship program each year, hiring a number of summer Analysts and Associates to work for 9-12 weeks in their offices. These programs are great for both parties the interns get phenomenal experience and get to see what its like to work at the firm, and the banks get to see the interns skills, work ethic, and personality fit, first hand, before deciding if they want to hire them full time. Read an investment banking job description.

Interns get to learn, through practical experience, the skills required for investment banking work. The interns work with a product group or industry group, supporting real transactions and deals that the bank is working on. Granted, the work itself is very entry-level, but the deals may be very high profile.

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How To Apply For The Goldman Sachs Internship

Each year, Goldman Sachs selects a few college and university students to work in their offices. While the Goldman Sachs internship is extremely competitive, it is definitely worth pursuing if you are interested in a career in finance. The first step is to visit the official internship opportunity page of this bank by clicking below on the Apply Here button and then looking for the program that matches your interest. Read the description and then hit the Apply Now button. You will now need to register yourself first. Once youve done that, youll be able to access the online application.

Be sure to include all relevant information about your education and work experience. Once youve submitted your application, its time to start preparing for your interviews. The firm is known for its rigorous interview process, so its important that you take the time to prepare. One way to do this is to practice with a friend or family member. Alternatively, there are many online resources that can help you prepare for your interviews. Finally, dont forget to follow up after your interviews! A quick email or phone call can go a long way in showing your interest in the position. By following these simple steps, youll be on your way to landing an internship at Goldman Sachs!

Last Date to Apply:

The last date to apply for an internship at Goldman Sachs depends on the program you are interested in, so be sure to check the requirements before you apply.

Getting Your Foot In The Door On The Buy

Goldman Sachs Summer Internship 2022

General Atlantic managing director Alex Crisses has an intriguing thesis: Betting on the gut instincts of college kids could result in some of the $65 billion growth-equity investor’s smartest plays.

Every summer, Crisses’ team brings on about six to eight interns. They mainly focus on sourcing and pitching opportunities that would fall within one of the firm’s five investment sectors: technology, consumer, financial services, life sciences, and healthcare.

Crisses, GA’s head of new investment sourcing and co-head of emerging growth, walked us through the buy-side firm’s highly competitive but growing summer internship program, which accepts about 2% of applicants.

Insider has also spoken to Grace Koo, head of talent acquisition at private-equity giant KKR, about how the firm is broadening out the schools it relies on to help it find future dealmakers for its internship program.

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How To Decide On Investment Banking Summer Internship Offers: Who Has A 975% Full

Yes, its that time of year again: You need to make a decision about summer internships.

Since recruiting is now hyper-accelerated, the decision-making process is also hyper-accelerated.

If youre fortunate enough to receive multiple offers from banks, youre in a very good position.

But instead of enjoying the moment, youll be tempted to go down the rabbit hole of analysis paralysis, even though the decision is usually simple.

We have covered this topic before, but recruiting has changed over the years, so I wanted to revisit and update this article:

So, Whats New?

First off, summer recruiting starts and ends insanely early sometimes overa year before your internship begins .

As I write this in September, theres a good chance you might have already decided on your internship for next year.

The timing is not quite as crazy outside the U.S., but recruiting has been moving up earlier in other regions as well.

So, you need to think about your goals long in advance. The bank and group where you complete your internship will determine where you work full-time, and your full-time role will determine your next job in 2-3 years.

Also, the concept of rankings is now a bit blurry because it is not always clear how elite boutiques and bulge brackets stack up, and some BB banks are stronger than others .

Rankings still matter in most cases, anything beats a regional boutique bank, and in most cases, a BB or EB offer beats a MM offer.

The Ground Rules: What Matters

GS vs. JPM

Goldman Sachs Internship Interview Questions:

Goldman Sachs is one of the worlds most prestigious investment banks, and they offer a highly competitive internship program. The interview process is notoriously difficult, but if youre lucky enough to get an interview, youll want to be prepared. Here are some of the most common questions asked in a Goldman Sachs internship interview:

  • Why do you want to work at Goldman Sachs?
  • What do you think sets Goldman Sachs apart from other investment banks?
  • Tell me about a time when you had to deal with a difficult situation/person.
  • Tell me about a time when you went above and beyond your job duties.
  • What do you think is the key to success in investment banking?
  • What do you think are the biggest challenges facing Goldman Sachs in the next few years?
  • Tell me about a time when you had to crunch numbers in a hurry.
  • What do you think is the most important quality for success in investment banking?
  • Tell me about a time when you had to give someone tough feedback.
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    Be The Stand Out Candidate With Wall Street Recognized Certification

    Demonstrate to recruiters that you have what it takes to succeed as a summer analyst with The Investment Banker micro-degree. Designed by 5 expert instructors with over 100 years of combined experience, this course reflects the same training given to new hires at the top 4 investment banks. Learn the core financial accounting, modeling, valuation and dealmaking skills needed to excel in any technical interview. On completion, you will also be able to join our prestigious alumni network alongside the worlds top analysts.

    Discover more career resources and tips below:

    Goldman Sachs Investment Banking Summer Analyst Reviews

    Applying to Goldman Sachs’ Summer Internship
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    About Goldman Sachs :

    The Goldman Sachs Group, Inc. is a New York-based American international investment bank and financial services firm. Investment banking, securities, wealth management, prime brokerage, and securities underwriting are among the services it provides.

    Goldman Sachs was the only significant investment bank with a clear policy against assisting in the launch of a hostile takeover at the time, which significantly improved the firms credibility among sitting management teams.

    Roles & Responsibilities:-

    • Attend orientation to learn about the firms culture, as well as the advantages and obligations that come with becoming a member.
    • Receive division-specific training to assist you in achieving your goals.
    • Have the opportunity to work on real projects with our people and other interns.

    Eligibility:-

    • Currently pursuing a college or university degree and is usually undertaken during the second penultimate year of study.

    Duration:-

    What Is Involved In A Finance Internship

    Finance internships offer a broad range of exposure, experience, and responsibilities found in the day-to-day life of working at financial firms. Typical duties include financial analysis, company valuation, client presentations, and conducting market research. In addition, internships may offer networking opportunities, speaker series, and mentorship opportunities.

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    Preparing For Your Investment Banking Interview

    Discover what to expect in the interview process, how to nail the technicals, tricky brainteasers, and your fit questions in our latest course, Investment Banking Interview Skills! Plus, this course also features example videos of successful answers.

    Watch the course intro with expert instructor Gerard Kelly below!

    Follow the link here to start learning today!

    Introductory Questions

    Make sure you prepare well in advance and turn up to your investment banking interview armed with answers to possible questions.

    Introductory questions are used to evaluate your understanding of the industry and the role you are applying for. Examples include:

    • Why are you interested in banking and which part?
    • Tell me why you want to join us?
    • Tell me what an investment bank does.
    • Walk me through your resume.

    To answer these successfully, you must discuss your academic achievements, what piqued your interest in investment banking, what you have done to develop a foothold in the industry and where youd like to see yourself in the future.

    Professional Questions

    These are designed to quiz you on your strengths and weaknesses, so the interviewee can decide whether you are an ideal fit for that company. Examples of these questions are below:

    • Tell me about a team activity you helped to lead.
    • Take me through an experience which was particularly challenging.

    Technical Questions

    Valuation Sample Questions

    Financing Sample Questions

    M& A sample questions

    Tips for Brain Teaser Questions

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