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What would you do for an internship at Goldman Sachs?

post #1 of 72
8/7/09 at 12:41am
Thread Starter 
Obviously I am sure most on here are making at least 100,000. But lets put this into perspective. You're an undergrad, and you are looking for an internship. What would you do for one at the great Goldman Sachs, an acclaimed "BB."
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post #2 of 72
8/7/09 at 12:44am
Quote:
Originally Posted by RetroFlow View Post
Obviously I am sure most on here are making at least 100,000. But lets put this into perspective. You're an undergrad, and you are looking for an internship. What would you do for one at the great Goldman Sachs, an acclaimed "BB."

The special situations group looks pretty cool -- not sure if they do internships?
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post #3 of 72
8/7/09 at 12:50am
Do you have a choice? I would obviously do banking or trading. You choose the group/desk later, if you get any choice at all.
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post #4 of 72
8/7/09 at 12:59am
I think he meant what you would "do" for one, e.g. taking a 6 incher or a 10 incher up the dirt canal.
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post #5 of 72
8/7/09 at 1:01am
In that case I would submit my resume and cover letter to the recruiter responsible for my university. Hope that helps!!!!!
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post #6 of 72
8/7/09 at 2:02am
GS does internships. I started one for their DC office but never finished it.

I would go on live TV and beat the shit out of Jim Cramer, I'd be doing some type of service to the community at the same time?
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post #7 of 72
8/7/09 at 2:30am
Quote:
Originally Posted by Blog Marley View Post
GS does internships. I started one for their DC office but never finished it.

I would go on live TV and beat the shit out of Jim Cramer, I'd be doing some type of service to the community at the same time?

I meant, I don't know if the group I mentioned has a specific internship program.
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post #8 of 72
8/7/09 at 3:26am
ha
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post #9 of 72
8/7/09 at 3:28am
Quote:
Originally Posted by RetroFlow View Post
Obviously I am sure most on here are making at least 100,000. But lets put this into perspective. You're an undergrad, and you are looking for an internship. What would you do for one at the great Goldman Sachs, an acclaimed "BB."
Not a whole lot more than I would for an internship in any other bank (or other organization I was interested in). At the entry level on the sell-side (which is where most finance industry entrants wind up) your experiences and pay are probably going to be pretty similar regardless of where you wind up -- especially if you're in corp finance. If you want the best offers, focus on your grades and on reading up on the markets rather than trying to compare which of the big firms are "great" vs average. It also helps to start trading your own account on-line (especially if you want to be a trader, salesman, or research analyst) and start preparing for the CFA.
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post #10 of 72
8/7/09 at 3:37am
It's honestly amazing how many people are doing finance simply to get rich. I don't know that many finance majors but I know much much more about financial products and trading and the like than the finance majors I do know.

I used to want to work on WS, mainly as an analyst in the beginning. But consolidation and future gov regulation make me want to avoid it like the plague. I honestly think 90% of analysts out there are idiots.
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post #11 of 72
8/7/09 at 7:14am
Working for an investment bank used to be a good way to make a decent living right after college. I don't understand people who enter the field to "get rich". The vast majority of people in the industry seem to enjoy a middle to upper-middle class existence. The guys that make the mega bucks very rarely seem to have the analyst-associate-vp-md ladder climbing resume most people emulate. I worked with a lot of over-educated risk-averse unidimensional glorified calculators (e.g. a guy with two Wharton degrees who very confidently told me that Marx had written ONE book) but also with some very smart people. In my experience the latter leave the bulge brackets pretty quickly after getting the basic business training such banks are still decent at giving...
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post #12 of 72
8/7/09 at 8:21am
Quote:
Originally Posted by RetroFlow View Post
Obviously I am sure most on here are making at least 100,000.

I have a feeling this is far from true.
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post #13 of 72
8/7/09 at 10:27am
Quote:
Originally Posted by Oligarch View Post
Working for an investment bank used to be a good way to make a decent living right after college. I don't understand people who enter the field to "get rich". The vast majority of people in the industry seem to enjoy a middle to upper-middle class existence. The guys that make the mega bucks very rarely seem to have the analyst-associate-vp-md ladder climbing resume most people emulate.
I wanted to get into investment banking, but by the time internships came around I just did not have the resume to get the interview. I realized though that all I wanted was the middle to upper-middle class life. I've lived it my whole life and have been satisfied with it. What I should have done was talk to adults around my community and find out what they did, how long it took them to get there, etc. Most are making $150k+ around here, but they've been in their industries for 20+ years. Not the 1-2 years it would take in banking. I want to be making six figures, and I thought the quicker the better. As long as 20 years down the road I can afford some nice clothes, a big tv, a decent car, and a roof over my family's head I would be happy.
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post #14 of 72
8/7/09 at 11:26am
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Originally Posted by pokey07 View Post
I wanted to get into investment banking, but by the time internships came around I just did not have the resume to get the interview.

I realized though that all I wanted was the middle to upper-middle class life. I've lived it my whole life and have been satisfied with it. What I should have done was talk to adults around my community and find out what they did, how long it took them to get there, etc. Most are making $150k+ around here, but they've been in their industries for 20+ years. Not the 1-2 years it would take in banking.

I want to be making six figures, and I thought the quicker the better. As long as 20 years down the road I can afford some nice clothes, a big tv, a decent car, and a roof over my family's head I would be happy.

Wow that's really depressing. How does it feel to be a quitter, quitter?
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post #15 of 72
8/7/09 at 11:49am
Quote:
Originally Posted by Flambeur View Post
Wow that's really depressing. How does it feel to be a quitter, quitter?

Pretty badddddddddddddddd.

I came to the realization when I subscribed to the Wall Street Journal twice, but still managed to not read it. I had to force myself to even read a couple pages.
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