How to get an internship at Goldman Sachs and turn it into a full-time offer

Beecher Tuttle | E-Financial Careers

Getting an internship at Goldman Sachs is no easy task. This year, roughly 17,000 people applied for its investment banking summer internship program, according to Chief Operating Officer Gary Cohn. Just 350 interns were hired.

So what’s the key to finding the golden ticket? You’ve got to be really smart, that much is obvious. But there are plenty of people out there with sterling grade point averages, said Sandra Hurse, global co-head of campus recruiting at Goldman Sachs. The key differentiators are extracurriculars, community involvement and, perhaps most importantly, strong people skills.

“If we look at someone with a 4.0 GPA but with no extracurricular activities and compare that person to someone with a 3.6 GPA but who has other skills and commitments, to me, that is a more well-rounded candidate,” Hurse said.

A targeted resume can also help get your foot in the door. One of the biggest mistakes Hurse sees on resumes is when candidates simply list their activities, rather than documenting their achievements.

“People undersell themselves by not putting all their accomplishments and telling the full story,” she said. “A one page resume is fine, but make sure you are listing all your accomplishments in that one page.”

Goldman Sachs’s 10-week summer internship is serious business for the firm. Goldman uses the program as the major feeder for its full-time analyst and associate programs. “If we can fill 100% of our hiring needs from our summer internship program, we will.”

As such, Goldman puts their interns right to work and evaluates daily. “Though interns have a week of training, most of their experience is not done in a classroom, but on the desk,” Hurse said. “Interns work with full-time analysts and senior people in their divisions so they get a sense of how the team operates.”

The end goal for most interns is to parlay the experience into a full-time offer. To succeed, interns need to show their bosses more than just their intellect – they also need to prove their people skills.

One of the bigger mistakes an intern can make is by keeping their head down and just doing their work, Hurse said. “As an intern, you need to pick your head up and build a network,” she said. “It’s a relationship-driven business, and we need people who can prove that they are capable of building relationships.”

Harvey Schwartz, Goldman’s CFO, recently said the firm has experienced some “recruiting tailwinds,” with more people wanting to work there. The competition is only getting tougher. You have to walk-the-walk, obviously, but it appears you also have to talk-the-talk. Polish up those relationship-building skills.

Other intern tips from Goldman Sachs:

1.      Speak and act with confidence

2.      Have your elevator speech prepared – be able to talk about your experience and your contributions in 2 minutes or less

3.      Build a network – meet with peers and professionals outside of your immediate area

4.      Be proactive

5.      Communicate – be clear and impactful, know the message you are trying to deliver

6.      Understand the business and how it contributes to the firm’s success

7.      Don’t be afraid to take a risk

8.      Under promise and over deliver

9.      Be yourself

Now Is Not The Time To Accept A Counter Offer

Robin Judson |

Jack G. complained constantly that his fund did not pay him anywhere close to the value he produced. In his role as a Principal in XYZ Private Equity Fund, he had significant P&L attached to the portfolio companies he worked with, sat on two boards and a deal he originated was about to close. Two

... Read Article


Some Wall Street dealmakers are choosing WFH over big paydays, as return-to-office plans become key to recruiting

Samantha Stokes | Insider

Recruiters told Insider that some senior bankers at the managing-director level and above are saying they won’t consider new roles that are based in the office full-time. Samantha Lee/Business Insider Flexible-work policies are top of mind for many senior bankers, recruiters say. Candidates are turning down roles that don’t allow remote work at least sometimes. Some

... Read Article


Wall Street’s Hottest Commodity: College Grads With Excel Skills

Mary Biekert | Wall Street Journal

All across Wall Street, one price keeps going up: the one for young talent. Big banks can’t hire junior staff fast enough — not even at the new going rate of $100,000 a year. Chalk it up to the pandemic. Or the notoriously long hours. Or youthful realizations that maybe banking isn’t all it’s cracked

... Read Article


How To Handle Job Offers In The Post-Lockdown Economy

Robin Judson |

Many job searches during this post-lockdown period result in candidates receiving multiple offers. How to best handle the scenario.

... Read Article


A Guide To Interviewing From A Career Recruiter

Robin Judson | Robin Judson Partners

We believe we know interviewing because we have been in the financial recruiting business for over 25 years. This is our guide.

... Read Article


How To Nail A Video Interview

Robin Judson |

With the on-going pandemic, we see many of our clients conducting their interviews on Zoom, Skype and other services.    The video interview offers the best and worst combination of telephone and personal interviews.   We suspect that even after the end of the pandemic,  the video interview is here to stay, for at least a couple

... Read Article


A Simple Approach to Successful Interviewing

Robin Judson |

Those of you who have worked with us know that we always emphasize one key approach to interviews. We always say, be yourself.  Be your best self but be yourself. Don’t try to be what you think the interviewer wants.  You don’t really know what they want.  You could lose the opportunity because they perceive

... Read Article