What is behind the scenes at investment bank Goldman Sachs like? How does the recruitment process work? A Goldman Sachs Associate gave us all the secrets to a successful career in the world of finance. He also lifts the veil on his daily life within the company in London.
Goldman Sachs is an American investment bank established in 1869. The group is known for its expertise in market transactions such as mergers and acquisitions, IPOs, bond issuance and structuring of derivatives. . Goldman Sachs has more than 36,000 employees and has offices in 34 countries around the world.
The journey of Dan, Associate at Goldman Sachs
Can you go back to your academic career?
I hold a Bachelor’s degree in International Economics from Capital University of Economics and Business, a modern and multidisciplinary university located in Beijing. I then had the chance to carry out an academic exchange at theESC Clermont BS in 2012, where I obtained a Bachelor in Management, in international business.
Following my Bachelor years, I joined EDHEC on its campus in Nice, where I followed the double degree Master in Management & MSc in Risk Management. I therefore have dual skills in finance and financial risk management.
Can you look back on your professional career?
Being in business school allowed me to do a large number of internships in diverse and varied fields. During my bachelor years, I completed a summer internship two months in a venture capital investment company, called IDG Capital Partners. It is one of the pioneering institutions in this field, since 1993.
In 2014, I also had the opportunity to do an internship in the HR department of the food industry giant, Nestlé. If IDG Capital allowed me to familiarize myself with the world of finance, my experience in HR allowed me to realize to what extent communication skills can make a difference in such a field.
During my training years at EDHECI had to do a 12-month internship. The first half took place at IBM, in Nice, in commercial development around an Internet platform dedicated to connected objects. This experience allowed me to meet some great people and above all to broaden my knowledge of the world of AI.
The second half of my gap year was more focused on finance. I joined the Bank of China, in Luxembourg, where I held the position of Assistant Credit Risk Officer. During this experience, my mission was to examine corporate loan applications. This internship then turned into a fixed-term contract and served as support for my final year at EDHEC where I followed a part-time MSc Risk and Finance.
Once I graduated, I joined Goldman Sachs as a Senior Analyst, Market Risk. Today, I am a GSAM Insurance Associate. I primarily work with our clients to meet their needs. In particular, I develop investment solutions adapted to their objectives, particularly in the insurance sector.
The market finance and banking sectors
How was your vocation for the world of finance and banking born?
My university education is mainly focused on finance and economics. It was therefore natural for me to move into this field. But the transition from economics to finance took place during my summer intership at IDG Capital. I had the chance to see how finance can have an impact on our daily lives and on the world. IDG is a company focused on TMT (Technology, Media, Telecommunications). The analysis of new investment opportunities in the new technology sector was absolutely fascinating. It was by realizing that the capital market can transform the life cycle of a company that I began to gradually move away from economics to concentrate more on finance.
Dan’s daily life at Goldman Sachs
What is your daily life like as an Associate at Goldman Sachs? What does a typical day look like?
I am now part of a team focused on customer interactions. So I don’t have a typical day. Before, when I worked in the risk team, I started my day with a meeting with the traders during which we discussed the evolution of different sectors and news that could influence the market. I would then review the portfolios I was responsible for and check if any of them were experiencing excessive risk.
If the market events mentioned during the meeting had an impact on one of the sectors in question, we contacted the investment teams to get their opinion and find out how they planned to adjust their investments.
How to describe the working atmosphere at Goldman Sachs?
The key word within Goldman Sachs is “support”. This was evident from my first job interview. As strange as it may seem, my recruiter helped me answer the questions.
At Goldman Sachs, knowledge is obviously appreciated, but it is not the only element required. The company is looking for curious people with a real desire to learn and a spirit of helping others.
Diversity and inclusion are also among our priorities. My team members come from all over the world. Having an open mind and finding common ground is the key to successful teamwork. That said, Goldman Sachs remains a company based on combativeness: employees encourage each other to exceed their limits while knowing that they can count on the support of other employees.
Recruitment processes at Goldman Sachs
How are the recruitment processes carried out at Goldman Sachs?
The recruitment process is very simple. Students can register for spring and summer internship assignments or even for the graduate program.
Interested students generally must complete an online form. The main element to be completed is 300 words. Applicants are required to explain their motivations and skills for the position in question.
Once this step has been validated, they take a video interview where they must demonstrate their motivations for joining the bank. Some technical questions may also be asked.
Finally, the last round consists of two interviews at the company headquarters or in the local subsidiary for foreign candidates. They are made up of a mix of motivational questions and technical questions. The whole procedure begins around September.
Advice for successful recruitment processes at Goldman Sachs
What advice would you give to students about to join Goldman Sachs?
Knowing yourself well is the secret to succeeding in any interview. You need to know exactly what your weaknesses and strengths are. You also need to be comfortable talking about your experiences and what they have given you.
In the same way, you should not be afraid of not knowing the answer to a question. We much prefer a candidate with a willingness to learn and quickly improve their skills, rather than a “know-it-all”.
Furthermore, you do not have to have a background in finance to join Goldman Sachs. Above all, we want to see that you are capable of achieving a high level of performance in your field.
Finally, don’t hesitate to be kind! There will be many times when you think you don’t have time for this, but don’t give up, teamwork is only productive if everyone is cooperative.
