Jammin' Like Crazy at Goldman

This Indiana grad works really long days and nights in investment banking, but enjoys "the team-oriented culture" and "focus on mentorship"

by Bijel Kirti Doshi

As an investment banking analyst at Goldman Sachs (GS) in New York, I work on a multitude of projects, both financial and strategic, involving real-time issues corporations face today. Most notably, investment banks like Goldman offer advisory services, typically focused on mergers and acquisitions and equity/debt issuances. I'm responsible for creating financial analyses. These analyses help determine potential outcomes from various transactions, which are then used in client presentations.

I expected the long hours and intense projects after I completed a summer internship at Goldman in New York's financial district. However, I wasn't fully prepared for the effect the job would have on my personal life. The typical work week is around 80 to 100 hours, including time on weekends. It's tough to manage such a rigorous schedule in addition to relationships with friends and family. On the other hand, I'm exposed to more corporate executives at companies and senior bankers within Goldman than I anticipated, which is a fair trade-off. It also pays off when something I've worked really hard on makes headlines.

Goldman is a great place to learn a lot in a very short period of time. I enjoy the team-oriented culture and appreciate the strong focus on mentorship. Goldman provides each analyst with a "Big Buddy" and a formal mentor. Mine have been helpful in monitoring my progress and ensuring I get the best learning experience possible.

The following is a usual work day:

9:30 a.m. -- I'm rushing out of my apartment to the subway station for a 30-minute commute downtown. Although this might be considered a late start, my industry allows for some flexibility in the morning.

10:00 a.m. -- I grab a bowl of cereal at my desk and check my calendar. What started as a tip from my mentor -- creating a to-do list -- has turned into a daily ritual.

10:30 a.m. -- Quickly I browse the Wall Street Journal and Yahoo! Finance to get up to speed on the markets and daily happenings. One of the value-added responsibilities of being an analyst is keeping team members aware of recent news and developments with clients.

11:00 a.m. -- It's time to start tackling my ever-growing to-do list. This is the perfect time to revisit financial analyses completed late the night before with a fresh pair of eyes. I open up an integrated merger model I have been working on. A model is a complex Excel workbook that takes into account different financial assumptions in an attempt to predict possible outcomes for a future financial transaction. Once things look good, I shoot the analysis off to my associate, who will review it before sending it to our vice-president or managing director. It's amazing how many times an analysis will be reviewed and revised before it's sent to a client.

1:00 p.m. -- It's already 1:00 and I haven't even thought about lunch yet. I run down to the café to grab a sandwich. A light meal helps to keep me on my toes all afternoon.

1:30 p.m. -- My associate has reviewed my analysis and has some constructive comments. We discuss the changes and I run back to my desk to incorporate them before the 2:30 internal conference call to discuss materials before tomorrow's client meeting. I scramble to get everything done and double-checked before sending it out to the broader team.

2:30 p.m. -- I join my teammates and associate in my VP's office to dial in to the internal conference call. My associate and I walk the team through the analysis and answer questions along the way, which ultimately leads to discussions and new ideas. I'm still amazed by how steep the learning curve is and how quickly I felt comfortable leading portions of these discussions. Many of the skills I gained in school have enabled me to hit the ground running in this field.

3:00 p.m. -- I finish the call and promise to redistribute a revised version soon. I run to my desk to print out materials for my next conference call.