Goldman Sachs Legal Internship: Requirements and Opportunities

A Goldman Sachs internship offers undergraduates and graduates invaluable exposure to the financial services sector. Securing a spot, particularly in the legal division, is highly competitive but can be a life-changing opportunity. This article explores the requirements, opportunities, and key aspects of Goldman Sachs' legal internships.

Introduction

Goldman Sachs internships are a gateway for students to experience working within a leading global investment bank. Interns are immersed in the company's daily activities, working with seasoned professionals in various divisions. The legal division provides legal advice to investment banking, asset management, corporate real estate, and human resources teams.

General Internship Requirements

While Goldman Sachs doesn't explicitly state a minimum GPA, a GPA of at least 3.6 is often preferred. Relevant coursework and hard skills may also be necessary depending on the specific program.

Types of Internship Programs

Most internships fall under the summer analyst or summer associate categories:

Summer Analyst: These internships are designed for students in their second or third year of college or those in a fifth-year master’s program.
Summer Associate: These internships are tailored for students in advanced degree programs like MBA or law school.

Goldman Sachs also offers off-cycle internships throughout the year for students who cannot commit to summer. These programs typically run between 3 to 6 months and provide opportunities across Europe, Asia, and other regions.

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The Legal Division Internship

The legal division at Goldman Sachs is responsible for providing legal advice across all areas of the firm. This includes offering counsel to investment banking, asset management, corporate real estate, and human resources teams. Interns in the legal division gain exposure to a wide range of legal and financial issues.

Who Should Apply?

The legal division internship is open to students interested in law and finance, and a background in either isn't required. This makes it an accessible option for students from diverse academic backgrounds.

Responsibilities and Focus

The advice and counsel provided by the legal division are critical for maintaining commitments to clients, regulators, and shareholders, and for promoting a culture of excellence and integrity. The division's goal is to provide legal advice that protects the firm’s financial well-being and reputation, and to assist its businesses in evaluating the risks associated with transactions and other activities.

Other Goldman Sachs Internship Programs

Goldman Sachs offers internships across various divisions, each with a unique focus:

Asset Management: Interns are exposed to Goldman’s primary investment division.
Controllers: The controllers division focuses on financial and regulatory compliance.
Corporate Treasury: This program exposes students to the management of the firm’s overall financial strategy.
Corporate and Workplace Solutions (CWS): This team manages commercial real estate, office security, and facilities management.
Engineering: Interns learn how engineers solve complex problems and innovate global business and financial markets.
Executive Office: Located in New York City, this division drives the company’s culture and corporate strategy.
FICC (Fixed Income Clearing Corporation) and Equities: Interns work directly with clients to help them raise funds, buy and sell financial instruments, and manage investment risk.
Planning and Analysis Finance: This team handles firm-wide strategic planning, offering interns experience in quantitative and financial analysis and forecasting.
Global Compliance: The global compliance division deals with risk management and reputational awareness, monitoring changes in laws and regulations.
Global Investment Research: This team performs research for clients in commodities, currencies, fixed income, and equity markets.
Human Capital Management (HCM): The HCM team provides resources to employees for professional and personal growth.
Internal Audit: Interns experience how auditors test financial statements and reports for accuracy and completeness.
Investment Banking: Interns facilitate large-scale client transactions and provide advisory services on mergers and acquisitions (M&A), risk management, and raising capital.
Operations: This team manages the minutiae surrounding every transaction the firm facilitates.
Platform Solutions: Students learn about the digital platforms that Goldman and its clients use.
Risk: Goldman’s risk team evaluates the risks that the firm faces in both financial and business functions.
Tax: Interns gain experience managing the global taxes of a major investment banking institution.
Wealth Management: This team helps clients of all sizes and individual consumers meet financial goals.

Programs for Underrepresented Groups

Goldman Sachs is dedicated to promoting diversity through several specialized programs:

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Emerging Leaders Series: A two-part program for first-year Black and Hispanic/Latinx students in NYC.
Virtual Insight Series: A 4-week online experience for undergraduate students, covering personal and professional development.
Possibilities Summits: Virtual, two-week professional development programs geared toward specific groups and traditionally underrepresented students.
Market Madness Program: A semester-long program for students from historically Black colleges and universities, including a case study competition and networking events.

Application Process

To apply for a Goldman Sachs internship:

Create an Account: Register on the Goldman Sachs website to access available programs, subdivisions, and locations.
Select Programs: Choose up to four business/location combinations to apply to in each recruitment year.
Submit Application: Complete and submit your application online. Applying early is crucial as Goldman Sachs makes hiring decisions on a rolling basis.
Networking: Connect with Goldman Sachs recruiters on campus or at networking events to improve your chances.
Video Interview: If your application is selected, you’ll be invited to participate in a video interview.
Assessments: Technical role applicants may need to complete an assessment, such as a coding and hard skills assessment through HackerRank.
Superday: Attend a day of in-person interviews for all internship roles.

How to Stand Out

Resume: A strong resume is vital. Highlight your work and internship experience, leadership roles, and extracurricular activities. Prove your relevant skills through your experiences.
Interviews: Prepare concise and clear responses, especially for questions about your background and why you want to work for Goldman Sachs. Rehearsing answers to common interview questions can help.
Virtual Programs: Join Goldman Sachs virtual insight programs or engineering challenges before applying. Recruiters often fast-track candidates who’ve completed these events.

Learning and Development

Goldman Sachs emphasizes continuous learning, development, and apprenticeship. Goldman Sachs University helps employees grow professionally through orientation, integration, and ongoing development. The firm is committed to empowering its people to drive their own development and expand their horizons through ongoing feedback and diverse talent programs. Junior team members learn by working closely with seasoned professionals in an apprenticeship culture.

Benefits and Culture

Goldman Sachs offers training and benefits to support long-term growth. The firm promotes a culture of diverse teams, which drives stronger results. There are opportunities to learn, socialize, and develop relationships as people and colleagues. The Alumni Network promotes the firm's culture and helps alumni connect to enhance business development and support recruiting.

Analyst Program

The analyst program welcomes people from a variety of academic backgrounds and personal interests. For experienced hires, Goldman Sachs generally does not hire directly from law schools, but instead hires attorneys who have experience in private practice.

Internship Program Details

The Summer Analyst Programme is a nine to ten week summer internship for undergraduate students. Applications for the EMEA Summer Analyst programmes are reviewed on a rolling basis, and candidates are encouraged to apply as soon as they are ready. The Summer Analyst role is for candidates currently pursuing a Bachelors or Masters university degree and in their penultimate or final year of study.

Popular Internship Programs

Summer Analyst Program: A 9-10 week internship for undergraduates in divisions like Asset Management, Investment Banking, and Global Investment Research.
Summer Associate Program: Designed for MBA or advanced degree candidates, emphasizing leadership preparation in areas like Investment Banking and Wealth Management.
Off-Cycle Internships: Programs lasting 3-6 months across Europe, Asia, and other regions.
Emerging Leaders Series: Focused on creating pathways for underrepresented groups in finance.
Virtual Insight Series: A four-week online learning program for undergraduates exploring careers in finance.
Possibilities Summits: Two-week virtual development programs focusing on specific communities, including Black, Hispanic/Latinx, and LGBTQ+ students.
Market Madness: HBCU Possibilities Program: A semester-long initiative for students at historically Black colleges and universities (HBCUs).

Popular Roles for Interns

Investment Banking Analyst: Supports deal execution by building financial models and preparing pitch books.
Asset Management Analyst: Participates in designing investment strategies and analyzing market trends.
Global Investment Research Analyst: Conducts in-depth industry and company research.
Engineering Intern: Develops trading platforms and enhances cybersecurity tools.
Compliance Analyst: Monitors evolving regulations and assesses internal processes.
Corporate Treasury Analyst: Helps manage Goldman Sachs’ liquidity and capital.
Internal Audit Intern: Evaluates the effectiveness of governance and control systems.

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