Investment Banking Summer Analyst jobs at Goldman Sachs last just 10 weeks but provides you with good money. The base salary for an investment banking analyst is about $85,000, according to Glassdoor. Interns get paid based on a pro-rated first-year analyst’s salary.
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If selected, you could be involved in everything from financial modelling to attending client meetings. In some cases, there could be a full-time job offer in the end.
You need not have a business or finance background but a keen interest in banking sector. You should certainly be able to explain why you would like to work at Goldman and also highlight personal qualities that would help you in the role, according to an interview cheat sheet by Bloomburg.
From this year, the application is a rolling process and being accepted online. As part of the application process, familiarise yourself with business activities of Goldman Sachs.
The firm is conducting a video interview from year. You’ll probably have to discuss your background, along with interest in investment banking. You could even provide a specific deal to highlight your expertise.
The pre-recorded video would be reviewed by staff at Goldman. The candidates should conduct themselves in the video interview as they would in a live interview is the advice from Goldman.
The next round is “Superday” at the office where you would work, with three 30-minute interviews, each with two people from the Investment Banking Division.
You should be able to discuss your past performance or achievements, prove your knowledge of the financial services industry by answering specific questions, including technical stuff like company valuation. You may also have to explain why you are attracted to investment banking at Goldman.
Goldman has introduced a new interview method this year, including questions meant to predict how you might react to certain situations. It is intended to assess the same characteristics across candidates.
Thus, questions in both rounds will probe for core competencies such as working well on teams. Answers are scored, but decisions are not formulaic.
Following each Superday, interviewers meet with a panel of people from the Human Capital Management Division and senior-level investment bankers to discuss and decide on candidates.
Those selected generally get offers within a day or two of their Superdays. There will be about 400 investment banking summer analysts around the world.
Do be authentic and know the difference between being prepared and being rehearsed.
Do be ready. The best candidates are prepared enough to be calm and authentic and engaging throughout the interview. They would be able to answer questions on topics like teamwork, integrity, judgment, speak of their past experiences and why their skill sets are transferable to a banking role.
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Do show long-term interest. If it is evident someone is looking to use Goldman as a vehicle to go elsewhere that candidate could be rejected.
Do apply when comfortable. But, with the process now rolling (applications have been accepted since July), do not delay any further. “With the program being as competitive as it is, it’s best advised to apply as early as possible,” says Goldman.
Don’t try to be a YouTube star. The recruiter is to focus on content and not your video recording abilities or presence.
Don’t get trapped inside “I.” “Having a good example of how you approach things in team dynamics is important.”