Working at GS is quite competitive and exciting for people with A type personalities. Independent of being in a line or a project role, you will gain access to senior managers and as part of the culture, it is highly recommended to setup recurring catch ups with these to ensure they are aware of your progress and discuss your career plan.
I would have to say that the best part of working at GS is the quality of the employees. GS truly does their best at selecting the best of the best, and then motivate them to cross network into other teams. There is also a lot of incentive into internal mobility so that even if you start in one Business Unit, you can move around and try other positions in other teams and become a more rounded employee at the firm.
Sadly, during my time at GS I have seen a many number of brilliant employees leave due to the lack of work life balance which the firm itself struggles with getting correct. While the firm constantly remind people of the importance of wlb, the managers seem to not follow through and are quick to remind employees if they feel they are taking too many of their vacation days in a row. Many years, I had rolled over 15 days of vacation because it would have not been in my best interest to use these days as work is always busy.
The firm has now reduced the number of days you can roll over to incentive employees to use these days but the management behavior has not changed and so now employees are losing vacations days that ar
Reconciliation Specialist | Draper, UT | Sep 11, 2019
A great place if you're an extrovert
The environment is great for someone who is an extrovert. The seating is an open floor plan. Do not expect to have any sort of privacy or be spared of everyone's discussion of their weekend plans/events. The place can get really loud at times with no regard for people's individual need for a more quiet and productive environment. At times there is no clear management and management does not get to finish everything that they are supposed to do since they are spread so thin. One manager with 15 employees who have questions but the manager is on calls more than half the day. You have to park your questions and wait until they are available.
There are a lot of advancement opportunities for the right type of person. You have to be ready to kiss up to people you would never talk to just so they can give you a helping hand to get you into a position that you are already overqualified for. Even if you have the right degree and the right amount of experience, you won't get very far if you're not willing to network, network and network some more. Every phone call is a networking opportunity (that is how it is presented). Even in your own department, you have to speak up. If you don't speak up, you're considered borderline mentally disabled. In one of the company's videos, I heard that GS is a meritocracy and it could not be further from the truth. People in higher positions literally do not have the appropriate academic background to be in those positions, but they got there through
ConsNot for people who like working alone in peace and quiet
So I started on day one and went around to meet my team and shake some hands. The VP over my team who sat literally 4 desks down from me wouldn't shake my hand or even acknowledge that I was alive.
After going to lunch my first week with some of my team, I was informed that she takes about 6 months to warm up to somebody and doesn't really want to hear from you until then....REALLY!? How crazy is that! I am a millennial, not in that I am entitled and lazy, but more in a way that I think a collaborative team approach is going to be preferred to the hierarchal team setting that she was obviously sustaining. So from week 1 of the job I felt that I was in a toxic environment.
Goldman makes all employees work ridiculous hours for, not great pay, they always told us that they would make up for it in our bonus, I'll get to that in a minute. Mandatory 50 hours, no biggie, but then they would call you to come in on Saturday and Sunday to work so you would be putting in lots of hours for really poor pay.
At a team meeting the executive came on and informed us that there would be no bonuses that year, a woman sitting next to me, literally started crying, because she had put in so much work and so many extra hours thinking it was all going to pay off, but they told us the load of bullock of how the company is struggling and they wouldn't be able to pay out, but then you read in the annual report the great bonuses that the C suite got. Was really perplexing.
I hope that th
Senior Administrative Assistant | New York, NY | Sep 23, 2014
High Pressure Dynamic Environment
Senior Administrative Assistant to Five Managing Directors and Senior Management: 2007 to 2011
• Scheduled high level meetings within and outside of Goldman Sachs, including, but not limited to, Senior Management, SEC, Federal Reserve Bank;
• Screened calls for the Managing Partner and other Managing Directors;
• Distributed minutes/reports to various committees for weekly Executive Meetings;
• Compiled slides and combined them into a PDF format, ensuring accuracy in the placement of all pages within the report; upload reports to SharePoint, Federal Secure Zones and SEC sites;
• Organized complex travel reservations, visas, cross-border training modules, expense reporting, petty cash;
• Reconciliation of attendance for New York and London offices;
• Update and confirm funds the Company would be reporting at the Onshore and Offshore quarterly board meetings by registering funds into an Excel spreadsheet;
• Recruiting support, including lodging and travel for candidates, organizing interviews, and meals;
• PowerPoint Presentations;
• New employee provisioning;
• Supplies and equipment maintenance for the Department;
• Organize, on a company-specific site, classes for the Career Development Committee which includes a monthly learning series;
• Possesses the ability to work proficiently in a high pressure and volatile environment;
• Perform a wide range of confidential administrative tasks including answering and directing calls, emailing, faxing, written correspon
Everything you would associate with a corporate environment
Goldman Sachs has done will in Salt Lake City. The company's decision to move many of its middle and back office functions to Salt Lake has been a great cost-savings strategy and has created literally thousands of jobs in Utah. I joined the firm straight out of college, hence this was my first dive into the professional world. When I joined the firm, GS has less than 1,000 employees in SLC -- today it has over 2,000 (in SLC). While the company has grown tremendously, the culture has maintained. The firm often pulls managers from their hubs in NY and Jersey City. People who perform well at their jobs and carry the company's culture are rewarded. A few things on the downside -- there is very little relief when it comes to work/life balance. The standard work week is 50 hours, with many employees working upwards of 55-60. Discretionary bonuses are only awarded on a yearly basis and are more often disappointing, then pleasantly surprising. Very little perks in terms of tickets to local venues and company parties. Many employees only have the strategy of starting in SLC and working their way toward NYC.
How you like the company depends on what your career goals are. While I was there face-time was the rule so if you left work at the 10hr mark (a normal day) you were the recipient of sarcastic remarks about not having enough work to do. Management was quietly expected to spend even more time at the office that increased with title. Work/life balance slanted heavily towards work despite what upper management said.
The good part of the job was getting to know my coworkers. Since I spent the vast majority of my time (at least 50hrs/week) with them there was a camaraderie based on sharing in the stress. Another is that if you succeed in this environment you can use the experience to move to another firm that values employees without demanding that they spend all of their waking hours in the office.
The quality of management was uneven with some very good people mixed in with others that were obviously promoted based upon who they knew rather than having any ability. The aforementioned face time also seemed to act as a replacement for any lack of ability.
It may have changed in the years since I left the company but if it has it would constitute a 180 degree change in their core philosophy.
A fun, yet stressful job in a fun, yet stressful industry.
A typical day at work begins with a "Stand-up" -- an informal stand-up meeting to outline the day's goals and share any other relevant information regarding enhancing daily productivity for "hot" jobs. This is followed by a voluntary sharing of any personal announcements of an uplifting nature to start the work day on a positive note.
We have a cohesive team of fun-loving, witty writers and artists that laugh hard, yet work harder. Management is supportive and enhances the creative environment with frequent team-building efforts, from pizza lunches to office painting parties.
These are welcomed given the fast-paced and high-stress environment of working in the in-house advertising agency division of the world's largest investment banking and holdings corporation.
As the casinos and entertainment arm of Goldman Sachs, we have to not only address the bottom line, we bottom line have to create a memorable vacation experience for our guests.
ProsFree lunches in the Employee Dining Room aka "The Hangout"; free or deeply discounted show tickets, hotel rooms and other amenities.
ConsLong work days in a 24/7 industry, average healthcare benefits, no matching contributions to our 401k plan
Really struggle with the culture at this place. Very political, work and status obsessed, and gossipy. I never felt like management cared about us at all, their messaging around the pandemic was “we get that it’s a hard time for everyone but you all need to work more.” The systems and technology were frankly shocking for such a large company, it’s pure chaos and disorganization. The dissemination of information leaves much to be desired, the review process is a joke and utterly unhelpful.
I should have been more wary coming in after the role I was placed in was not at all the role I interviewed for, and when I asked which group I’d be placed in nobody could give me answers until i showed up. Even then there was some mistake in the system and only one person on the team knew I was starting the day I showed up.. talk about getting off on the wrong foot.
Some people like it and thrive but having been at a different company before arriving at Goldman the state of the place was unfathomable to me. If you want to work here for the “prestige” or the name, by all means go ahead but I saw nothing to merit the aura that some students and employees have for this place.
• Mentored new hires from all Backoffice positions on how to access and utilize the company’s systems.
• Introduced the new hires to the team and made sure they felt welcomed and accepted.
• Answered questions related to the new hire’s position, compensation and benefits as well as how to access this information on the company’s intranet.
• Provided incoming call coverage when needed to assist customers with various online retail deposit products such as online savings accounts and certificate of deposits.
• Accessed multiple electronic systems and documented steps taken to efficiently service the customer.
• Ongoing coaching of new hires to grade and assure quality assurance.
• Participated in projects to drive operational excellence.
• Completed ongoing compliance and remedial training as scheduled.
• Met established goals for all metrics, including call quality, productivity and profitability quotas, and customer acquisition by focusing on maximizing service to customers.
• Demonstrated ability to proficiently handle and own high-profile escalated situations.
• Provided essential follow-up skills.
Good company, they have some of the best people, and some of the best culture, but like most bubble businesses - they excel in creating a culture of averageness. If you know game theory you should be fine.
Typical day of work is around 10-12 hours. I learned to prepare and think on the fly, and not get pushed around, and how to concentrate on solving the problem while others are creating distractions. Management was good overall - they do try to get the best out of you and drive out complacency. They do have limits in ability and knowledge which become apparent the longer you spend there. Politically the culture is very see-do, with the associated risks.
Hardest part of the job was tuning out people who expect you to be in awe of them. I got around it by developing a coffee habit and trademark patience.
Most enjoyable part of the job was the sense of building something that truly was the best in the world at that time, with the moments of satisfaction and friendship along the way.
Work there, but know everyone there is a guest. It's a home only for money, and people, eventually, just get in the way.
Productive workplace with ample learning opportunities
Head of Audit - India Capital Markets Internal Audit Function for Business and Technology Audits
1. The role entails planning, organizing and delivering global audit programs related to relevant technology and business controls;
2. Providing business and technology subject matter expertise in audit scoping meetings and other phases of audits;
3. Monitoring business risk profile, regulatory requirements and industry developments;
4. Developing audit plan for the year;
5. Participating and leading internal incident/fraud investigations;
6. Reviewing audit reports, discussing issues with senior management and ensuring that the actions plans are appropriately tracked; and
7. Ensuring Capital Markets audit plan is on track and audits adhere to the quality requirements.
Key Achievements -:
1. Establishing Bangalore office as Centre of Excellence for certain types of audits;
2. Establishing Bangalore office as the largest Capital Markets audit team in Asia and recruiting right talent to build audit expertise in complex areas like Model Risk, Capital Adequacy, Basel norms, Credit, Market and Liquidity risk;
3. Establishing Data Analytics team in Bangalore to aid in audits by performing in-depth data analysis;
4. Establishing Continuous Monitoring metrics to be monitored by the department for risk based audit planning; and
5. Leading and managing GLOBAL audits comprising of auditors across different regions from India or by traveling to other locations.
I worked in Investment Management Division - Private Wealth Management Operations department for Middle Office - Client Service for HNI clients.
In my Senior Associate Client Service relationship management role I obtained immense exposure in Senior Management interactions, Trading front office desk/Wealth Management Professionals/ Investment Professionals in Europe, Americas and Asia.
Primarily involving business planning and issue resolution for high net-worth client portfolios, portfolio accounting, funds, managing assets, resolving issues related to tax, asset servicing, treasury, cash management, market pricing, reconciliation, performance, risk analysis, controls, client reporting, trade management/booking, settlements, regulatory and compliance requirements, etc. in various global markets and jurisdictions.
Moreover, my previous roles in GS as team lead manager for Central Accounts group provided me the opportunity to develop my project and people management skills. Also allowed me to improve my networking and communication to become an effective manager and liaise with global counter parts and functional teams. My primary role earlier was to design presentations for prospects, ensure smooth client on-boarding and compliant documentation for corporate and individual accounts and maintain client service standards/client relationships.
Overall fabulous work culture and ethics in the firm. Most people in your division are always willing to help and work as
ProsFabulous work culture and ethics. Wonderful place to work and gain experience.
ConsNot all teams have similar management styles and thought leadership., Learning and growth may be limited in some divisions/areas.
Goldman Sachs always recruits open minded about who can encourage and carry forward Goldman’s inclusive culture. This makes every day at work a new challenge which ensure you are always ready to deliver your creative best each day managing complex demands from both external & internal clients.
My day starts during the drive to work on my BlackBerry. Looking through emails from the day before to see if global counterparts had reached out for. At work each minute is precious once all regions are online. Queries & its complexities evolve every day so there is nothing that is taken for granted. Investigation and interpreting information becomes a major part of what my team does. Managing optimum utilization of resources, multitasking, involvement strategic projects and ensuring its progress, bench marking performance and most importantly Management Reporting are every day tasks.
My team is a diverse pool of people from different backgrounds who add value to the overall accomplishments of the division. Bright, energetic & creative bunch.
My Management team fits this description of those who make a bit more effort keeping the best interests of clients in mind, nicer to deal with, tolerant towards those they don't readily identify with and always committed to doing the right thing.
Long work weeks and unforgiving hours at times may be seen as a negative but my learning has been that this environment makes you gauge my best qualities and also the same within the people
- Responsible for all intercompany monitoring, reconciliations and reporting which are used to facilitate
transactions between a GS Company and its affiliates through independent cash and stock reconciliations.
- Managing work specific risk by monitoring and preparing daily and weekly reports to ensure transparency to the Management which includes forecasting.
- Handled the cash Management process liaising with the GS internal treasury team to make sure the cash inflows are reconciled to the GS books and records
- Analyzing the presenting statistics of Business volumes and achievements to the senior management on a weekly basis.
- To monitor and validate positions from which we are due to receive or pay coupon/dividend to clients.
- Was involved in developing and testing of strategic technology and implementation of new process initiatives to ensure adequacy in controls to mitigate financial, regulatory and reputational risks for the firm.
- Organizing calls with the market agents/clients to discuss payments.
- To closely monitor balances and assign them to relevant teams and substantiate on a daily basis.
- Reconciling the balances in case of cash discrepancy
- Respond to Internal and External inquiries and queries and concerns from Clients and providing solutions.
- To handle day to day work challenges confidently, adjusting to multiple demands, shifting priorities, ambiguity and rapid change.
Working at Goldman Sachs provided me with a great level of diversity, culture, knowledge and international exposure. I gained sufficient knowledge on trading of listed derivatives, market volatility and client-relationships. My first project at Goldman Sachs, taught me the importance of networking and communication. The job role allowed me to interact with individuals globally and get a better and more clear-cut understanding of how multi-national corporations operate. I had a consistent career growth from Analyst Level 1 to Level 2. However after the second year I made a conscious decision to continue with my higher education and specialize in accounting. My time at Goldman Sachs allowed me to build my character and gave me some real life experience.
The management style was less formal and therefore made managers easily approachable regarding any and all concerns. Although working in a team can sometimes prove to be challenging, we were able to work together efficiently and communicate effectively.
The hardest part of the job was the work-life balance. As my first job it was challenging at first, however you soon learn to adapt to the situation. By my second year I had a great rhythm and was able to tackle this challenge.
The most enjoyable part of the job was that it challenged me and kept me motivated. The job kept me on my toes and I welcomed any additional responsibilities.
Enjoyable work experience that enabled me to develop myself as a person.
A good company to work for who demanded a high standard of work though out my tenure.
I was able to progress through the company from Carpenter to Building fabric supervisor.
With a team of seven engineers under my guidance.
During this time I completed various training courses and achieved high level security clearance to enable me to fulfill my job specifications.
Typical Day:-Organizing work, liaison with helpdesk, managing co-workers and building team spirit and achieving SLA targets whilst trying to make work fun?
Learning Points:- Time management/team building/Qualifications and training courses/managing team members and introducing fun into the workplace?
Management:- Interface between senior management and the team/
Looking after needs of my 7 team members(training and day to day working)
Co-Workers:- Helping development and mentoring and supporting individuals. Arranged team social events.
Hardest Part of Job:- Keeping up ever increasing standards required by company.
Most Enjoyable part of job:- Working with people and dealing with special project, that I could really get my teeth into and the satisfaction of a job well done?
ProsA great team to work with/ Bonuses for a job well done.
ConsTraveling to Central London on a daily basis which created long days
Questions And Answers about Goldman Sachs
How are the working hours at Goldman Sachs?
Asked Sep 5, 2016
Very flexible, I get my work done in such a short period of time and the rest of the day, when in office I go out to get coffee with my peers. Some days things are more intense and there's not a lot of time to chill but it's expected. I work several weekends, especially when near milestones such as month end, quarter end and so forth.
Answered Oct 8, 2021
14 hour days minimum. Not enough time in a day to accomplish all that is expected of you. Most people eat lunch at their desk while on conference calls. Little time to breathe or go to the bathroom.
Answered Feb 27, 2019
How would you describe the pace of work at Goldman Sachs?
Asked Feb 9, 2017
Very fast paced. Too many back to back conference calls that get in the way of getting any real work done. Best time to catch up is after hours.
Answered Feb 27, 2019
Super fast paced! Fresh grads will have an easier time; as a lateral hire from another bank I found the pace crazy at times. Would only recommend if you want to devote your career to GS
Answered Sep 26, 2018
What advice would you give the CEO of Goldman Sachs about how to improve it?
Asked Oct 2, 2016
Compensate employees fairly based on performance. The annual 360 degree performance review process holds no weight on compensation decisions.
Answered Feb 27, 2019
The "Marcus" division of GS should be revamped entirely.
Answered Jun 12, 2018
What benefits does Goldman Sachs offer?
Asked Jul 13, 2016
Top of the line benefits from day one.
Answered Sep 11, 2019
I don't know their benefits right now but during my employment form 2005- 2008 they covered all.
health, dental, eye, 401K, Life insurance and always provided an excellent bonus at the end of the year
Answered Mar 15, 2019
How long does it take to get hired from start to finish at Goldman Sachs? What are the steps along the way?
Asked Jul 13, 2016
I had 6 interviews. I had a phone interview with HR, then a phone interview with two traders on the CBOE, then an interview with a trader on the NYSE, then 3 in person interviews. Crazy intense interviews, but I think mine was a special case, as I was brought on to help the team understand a product that they really knew nothing about and needed my skillset.
Answered Oct 4, 2018
It takes about 2 months since the first interview to finish.