Why Is Goldman Sachs Hiring So Many MBAs?
If you are looking for a career in finance, it’s likely that industry giants like Goldman Sachs, J.P. Morgan and Morgan Stanley are already on your wish list of potential careers. Thankfully, the same companies you are looking for may just be looking for you.
Even though an MBA doesn’t guarantee you an automatic spot at an investment bank, industry leaders like Goldman Sachs consistently top the list of MBA-hiring companies. In 2015, Goldman Sachs once more topped the list of MBA employers, ranking #7, with 10.71% of MBA’s surveyed expressing a desire for employment with the company.
Last year, Goldman Sachs hired more than 200 summer associates globally. And with the opportunities for MBA fellowships and summits, your career wish list might just come true.
Why is Goldman Sachs hiring so many MBAs?
Recruiting and training new talent from MBA programs is viewed as an important part of the hiring process at Goldman Sachs. As of 2015, the global co-head of campus recruiting, Sandra Hurse, stated that new MBA hires are viewed within the company as a “pipeline of talent that we would tap for future leadership of the firm.”
At Goldman, the training and development of hires is truly seen as crucial for success within the firm. In a blog post from the company, MBA recruiter Gabrielle offered advice and answered questions for potential MBA recruits. In the post, Gabrielle reemphasizes the importance of MBA recruits at Goldman Sachs, particularly the opportunities they provide for leadership development within the company, which include in-person and online seminars, mentorships, and customized leadership coaching.
What Potential Paths Lead to Employment at Goldman Sachs?
With the benefits of hiring new MBA talent seen as an indelible aspect of the company’s success, Goldman Sachs provides several possible paths to employment.
The company recruits at more than 75 campuses worldwide, including the United States, United Kingdom, INSEAD in France and the Hong Kong University of Science and Technology. Even if a Goldman Sachs representative doesn’t recruit directly from a particular school, all students are welcome to apply to the company online.
If you did not study finance before your MBA program, there’s no need to be concerned. Goldman Sachs encourages MBAs who have or are in the process of a career shift. No need for a resume packed full with finance experience — Goldman Sachs seeks any candidate who can demonstrate their interest in the industry and takes advantage of opportunities in finance outside of the classroom.
Finally, Goldman Sachs offers opportunities such as the Goldman Sachs MBA Camp or Goldman Sachs MBA Women’s Summit, which give MBA students the opportunity to learn more about the financial services industry, as well as internship/career openings and networking opportunities.
What kind of jobs can I get at Goldman Sachs with an MBA?
According to MBA Recruiter Gabrielle, MBAs can be found throughout every department at Goldman Sachs. While several MBAs get their start in Investment Banking or Private Wealth Management, there are opportunities available throughout the firm. Just a few possibilities are listed below.
Asset Management: Goldman Sachs Asset Management works alongside both institutional and individual investors to provide solutions and strategies for investment concerns that span industries, geography and asset class. GSAM is one of the leading investment managers in the world, boasting more than 2,000 professionals in 34 offices around the globe.
Finance: The finance department at Goldman Sachs welcomes professionals from diverse backgrounds, including such fields as accounting, quantitative analysis and tax. The finance teams are divided into discrete groups which cover responsibilities such as managing liquidity risk, long-term debt issuance and assessing the credit-worthiness of the firm’s counter-parties, among others.
Merchant Banking: There are a number of options available within the Merchant Banking field, including analyst and associate. When investments are made or portfolio companies harvested, analysts work on finance and acquisition related activities, often working alongside senior management and professionals in various areas across the firm. Associates vary in their roles from day-to-day, ranging from responsibilities in deal documentation to due diligence meetings.