Goldman Sachs Summer Analyst Internship: A Comprehensive Guide

A Goldman Sachs summer analyst internship offers undergraduate and graduate students a chance to delve into the world of finance and gain invaluable experience at a leading global investment bank. These internships are highly sought-after, with acceptance rates lower than those of Ivy League universities. This article provides a detailed overview of the Goldman Sachs Summer Analyst Internship program, including eligibility requirements, application process, and the various divisions and roles available.

Program Overview

The Summer Analyst Program at Goldman Sachs is a nine to ten-week summer internship designed for undergraduate and master's students. This program aims to immerse participants in the day-to-day activities of the firm, offering hands-on experience and exposure to various aspects of the financial industry. The internship allows students to explore career options and work alongside experienced professionals.

Eligibility and Application Details

Applications for the EMEA Summer Analyst programs are open to candidates currently pursuing a Bachelor's or Master's degree and in their penultimate or final year of study. Goldman Sachs reviews applications on a rolling basis, encouraging prospective candidates to apply as soon as they are ready.

To apply, candidates must create an account on the Goldman Sachs website, where they can view available programs, subdivisions, and locations. Each applicant can apply to up to four separate business or location combinations in a given recruiting year; any additional applications will be automatically withdrawn.

Goldman Sachs Divisions and Internship Roles

Goldman Sachs offers internships across a wide range of divisions, allowing students to tailor their experience to their interests and skill sets. Some of the key divisions and internship roles include:

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Asset Management

This division exposes students to Goldman Sachs' primary investment operations. Interns gain experience in managing investments and working with clients to achieve their financial goals.

Controllers

The controllers division focuses on financial and regulatory compliance. Interns in this division contribute to ensuring the accuracy of the firm’s financial and regulatory information, as well as managing internal and external financial reporting. They also play a role in business planning decisions related to the allocation of financial resources.

Corporate Treasury

The corporate treasury internship program provides students with exposure to the division responsible for managing the firm's overall financial strategy. Interns learn about quantitative analysis, financial analysis, and forecasting.

Corporate and Workplace Solutions (CWS)

The CWS team manages various aspects of the firm's operations, from commercial real estate to office security and facilities management.

Engineering

In the engineering summer internship program, interns learn how engineers at Goldman Sachs solve complex problems for clients and innovate global business and financial markets. Applicants may need to complete a coding and hard skills assessment through HackerRank, with evaluation options in C, C++, Java7, Java 8, JavaScript, Python 2 or 3, or Scala.

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Executive Office

Located in New York City, the executive office division drives the company’s culture and corporate strategy.

FICC and Equities

Interns in the FICC (fixed income clearing corporation) and equities department work directly with clients, assisting them in raising funds, buying and selling financial instruments, and managing investment risk. A general understanding of financial markets, sales and trading, and tradable financial instruments is beneficial for this role.

Finance

The planning and analysis finance team handles firm-wide strategic planning.

Global Compliance

The global compliance division deals with risk management and reputational awareness across the globe. This team monitors changes and trends in laws, rules, and regulations across all of the firm’s business areas.

Global Investment Research

The global investment research team performs and produces research for clients in commodities, currencies, fixed income, and equity markets. Students can choose to focus on equity research or macro research.

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Human Capital Management (HCM)

The HCM team provides resources to employees to help them thrive at the firm, supporting both professional and personal growth and development.

Internal Audit

Internal audit interns experience how auditors test financial statements and reports for accuracy and completeness.

Investment Banking

Investment bankers facilitate large-scale client transactions and provide advisory services on mergers and acquisitions (M&A), risk management, and raising capital. Subspecialties include classic investment banking services and the Goldman Sachs financing group.

Legal

The legal division works across all areas of the firm, providing legal advice to the investment banking, asset management, corporate real estate, and human resources teams. A background in law or finance is not required.

Operations

The operations team manages the minutiae surrounding every transaction the firm facilitates or completes, ensuring these transactions can happen.

Platform Solutions

In the platform solutions team, students learn the ins and outs of the digital platforms that Goldman Sachs and its clients use.

Risk

The risk team evaluates the risks that the firm faces in both financial and business functions.

Tax

The tax internship program allows students to gain experience managing the global taxes of a major investment banking institution.

Wealth Management

The wealth management team helps clients of all sizes and individual consumers meet financial goals.

Skills and Qualifications

While Goldman Sachs does not specify a minimum GPA, some sources suggest a GPA of at least 3.6 is preferred. Additionally, relevant coursework and hard skills may be required for certain programs. Interns should tailor their skills to their desired specialization. For instance, marketing and communications interns need written communication and marketing analysis skills.

The Application Process

The Goldman Sachs application process is highly competitive, and applying early is crucial, as hiring and advancement selections are made on a rolling basis. The application process typically involves the following steps:

Online Application: Submit an online application through the Goldman Sachs website, selecting up to four preferred business or location combinations.
Video Interview: If your application is selected, you’ll need to participate in a video interview.
Technical Assessment (if applicable): Technical role applicants may need to complete an assessment in addition to a one-way interview. For example, engineering applicants must complete a coding and hard skills assessment through HackerRank.
Superday: For all internship roles, candidates may be invited to a Superday, which involves a day of in-person interviews.

Tips for Success

Resume: A strong resume is essential. Highlight work and internship experience, leadership roles, and extracurricular activities. Emphasize relevant skills and quantify achievements whenever possible.
Interviews: Prepare concise and clear responses to common interview questions, particularly those about your background and why you want to work for Goldman Sachs. Rehearsing answers can help build confidence and ensure you articulate your thoughts effectively.
Networking: Networking with a Goldman Sachs recruiter on campus or at an in-person or virtual networking event can improve your chances.
Early Application: Goldman Sachs makes all hiring and advancement selections on a rolling basis, so applying early is crucial. The first applications submitted are the first to be reviewed.

Additional Programs and Opportunities

Goldman Sachs offers various programs and opportunities for students, including:

The Possibilities Series: Designed for first-year undergraduate students, this program focuses on building professional networks and developing industry skills.
Emerging Leaders Series: A two-part program for first-year Black and Hispanic/Latinx students in NYC, where students learn about the firm and finance careers.
Virtual Insight Series: A 4-week online experience for undergraduate students covering personal and professional development topics.
MBA Symposium: A one-day symposium in New York City for first-year MBA students from traditionally underrepresented backgrounds, providing insights into different divisions at Goldman Sachs.
Market Madness Program: A semester-long program for students from certain historically Black colleges and universities, involving a case study competition, technical training, and networking events.
Possibilities Summits: Virtual, two-week professional development programs geared toward specific groups and traditionally underrepresented students.
Scholarship for Excellence: Undergraduate students applying for summer analyst internships can also apply for this scholarship, earning up to $15,000 toward tuition and academic costs.
MBA Fellowship: Associate internship applicants enrolled in MBA programs can apply for the MBA fellowship.

Goldman Sachs Culture

Goldman Sachs emphasizes continuous learning, development, and apprenticeship to help its people achieve their full potential. The firm also strives to create an inclusive environment where diverse teams drive stronger results. This is achieved by convening people with diverse backgrounds and perspectives to deliver innovative solutions for clients.

The firm also provides opportunities for employees to learn, socialize, and develop relationships as people and colleagues. Access and opportunities are viewed as competitive advantages, and the firm is committed to affording its people both.

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