13. Goldman Sachs

Contact Info

85 Broad Street

New York, New York 10004

Web site

More info

Recent Discussions

Whether you're a current or former employee—or a prospective job candidate—our forum on Goldman Sachs provides a place for you to share your experience or learn from others

Undergrad Internships

No. of undergrad internships in:

2005: 818

2006: 911

2007: 1,072

2006 interns from the following classes:

2% Freshman

13% Sophomores

73% Juniors

12% Seniors

0% Graduates

2006 interns from the following majors:

32% Business

17% Computer Science

18% Economics

10% Engineering

10% Liberal Arts

3% Math

3% Science

0% Undeclared

12% Other

100% of internships paid

0% of internships unpaid

Is there an offical summer internship program? Yes

Average length of summer program: 10 weeks

Minimum: 8 weeks

Maximum: 12 weeks

Average hourly wage: $28.85

Are interns paid on lump sum basis? Yes

Average total intern compensation: $11,538*

72% of eligible 2006 interns received full-time job offers

73% of interns with offers accepted

NOTE: Goldman's summer analyst (undergraduate intern) compensation varies by division. As such, the most common summer analyst compensation was used: $60,000 per annum pro-rated for 10-weeks in program

Applicants & New Hires

40* undergrad campuses where employer recruited 2006-07

40* undergrad campuses where employer made job offers

Applicants for entry-level jobs

2005: 7,691

2006: 11,431

2007: 15,024

Entry-level hires

2005: 615

2006: 663

2007: 819

Entry-level hires who were undergrad interns

2005: 52%

2006: 51%

2007: 58%

Most important characteristics for new hires:

2-Leadership Skills

3-Work Experience

1-College GPA

2006 new hires majored in:

32% Business

17% Computer Science

18% Economics

7% Engineering

10% Liberal Arts

3% Math

3% Science

0% Undeclared

10% Other

...and are:

7% African American

7% Hispanic American

32% Asian American

2% Other

48% Total minorities

37% Female

NOTE: Goldman Sachs recruits from over 40 top-ranked U.S. college and university campuses but 40 were firmwide for 2006-2007, meaning that multiple divisions targeted the campus and GS had 4 or more events there. Beyond that, Goldman Sachs' divisions visit approximately 75 other campuses and hired from over 150 schools for the 2006-2007 season.

Salary & Benefits

Entry-level hires since Jan. 1

Average base salary: $60,000 to $64,999

0% earn less than $35,000

0% earn $35,000 to $39,999

0% earn $40,000 to $44,999

0% earn $45,000 to $49,999

0% earn $50,000 to $54,999

13% earn $55,000 to $59,999

87% earn $60,000 to $64,999

0% earn $65,000 to $69,999

0% earn $70,000 and above

Bonuses, Overtime & Perks

NA% received signing bonuses

Average signing bonus: $NA

NA% received performance bonus first year on job

Average performance bonus, 2006: $NA*

17% of 2006 entry-level hires eligible for OT

83% of 2006 entry-level hires not eligible for OT

Reimburse employees for ed expenses?: Yes

Do employees become eligible immediately?: Yes

Maximum annual education reimbursement: $NA*

Full grad school sponsorship for jr. level employees? Yes

Partial grad school sponsorship for jr. level employees? No

Time Off

Is there a Paid Time Off (PTO) Bank? No

If no, total paid vacation days:

During first year: 15

After 1 year: 15

After 3 years: 15

After 5 years: 20

After 10 years: 20

Total paid holidays: 9

Time off for religious observances: Yes

If yes, max PTO days:

During first year: NA

After 1 year: NA

After 3 years: NA

After 5 years: NA

After 10 years: NA

Total days off for religious observances: 3

Is flex time available? Yes

Sick, personal days, first year: 8

Health Benefits

Do entry-level hires have access to health plan? Yes

Employees pay part of the cost? Yes

Does health plan provide dental coverage? Yes

Extra charge for dental coverage? No

Does health plan provide vision coverage? Yes

Extra charge for vision coverage? Yes

Are same sex partners permitted as dependents? Yes

Pension and Profit-sharing

Do entry-level hires have access to 401(k)? Yes

36 months to full vesting in 401(k)

Max. company match as a percentage of salary: NA%

Min. employee set-aside as a percentage of salary to receive max. co. match: NA%

If 401(k) match not calculated as percentage of salary, explain:

In addition to the matching contribution, employees receive a fixed contribution (no employee contribution required) equal to 4% of pay.

Are entry-level hires eligible for co-funded pension? No

Months to full vesting in co-funded pension: NA

Are entry-level hires eligible for profit-sharing program? Yes

Months to full vesting in profit-sharing program: 36

Maternity/Paternity Leave

Maximum Maternity Leave

80 days during first year

80 days after 1 year

80 days after 3 years

80 days after 5 years

Maximum Paternity Leave

20 days during first year

20 days after 1 year

20 days after 3 years

20 days after 5 years

Other Benefits

Does company match employee charitable gifts? Yes

Max. annual company match for employee charitable gifts: $10,000

Does company pay relocation expenses? Yes

Max. annual relocation expenses? $10,000

Employee Discounts

Car rentals

Gym memberships*

Cell phone/service

Insurance

Cultural events

Publications

NOTE: The firm may grant analyst-level employees performance-based discretionary bonus at fiscal year-end, payable in cash.

Maximum educational reimbursement is for 8 credits per semester (plus expenses such as course-required books) and there is no dollar limit.

In addition to discounted gym memberships, Goldman offers a Wellness Exchange program that consists of programs and policies organized around health, work and family, fitness, nutrition, learning, and recreation; implemented globally.

Work Environment

65 hours worked weekly by entry-level hires on average

Does average vary by business unit, department? Yes

Entry-level hire work locations...

NA*% in open work stations

NA% in cubicles

NA% in shared offices

NA% in private offices

NA% have no company-supplied work space

Does organization monitor e-mail?: Yes

Does organization monitor Web usage? Yes

Typical dress code

Business Casual

Formal/Business

Does organization sponsor employee volunteer opportunities? Yes*

Does organization offer employee daycare? Most locations

Does organization have fitness facilities on site? Most locations

NOTE: Majority of entry-level hires work in cubicles and open work spaces.

For details on Goldman's Community TeamWorks Program, visit: www.goldmansachs.com/careers/about_goldman_sachs/our_culture/community_teamworks/index.html

Training Programs

Does your organization have a formal orientation program? Yes

If yes, how many days is it? 30

Orientation includes:

Computer Training

Guest Speakers

Diversity Exercises

Team Building Activities

Tour of Facilities

Products and markets training, as well as business-process skills training.

$3,700 average spent on training, per new hire, in 2006

Is there a formal leadership program for entry-level hires of a year or less? No*

NA

Do candidates apply directly? NA

If not, how is eligibility determined? NA

When are new hires first eligible? NA

Is program rotational? NA

If yes, number of locations or business units: NA

Minimum rotations: NA

Maximum rotations: NA

Length of program, in weeks: NA

Minimum: NA weeks

Maximum: NA weeks

After program, employees offered permanent positions: NA

After program, do employees offered permanent position receive raise? NA

If yes, amount of typical raise: NA

Is there a formal leadership program for entry-level hires of a year or more? No*

NA

Do candidates apply directly? NA

If not, how is eligibility determined?

NA

When are new hires first eligible? NA

Is program rotational? NA

If yes, number of locations or business units NA

Minimum rotations: NA

Maximum rotations: NA

Length of program, in weeks: NA

Minimum: NA weeks

Maximum: NA weeks

After program, employees offered permanent positions: NA

After program, do employees offered permanent position receive raise? NA

If yes, amount of typical raise: NA

Does company have formal mentorship program? Yes

NA% of entry-level hires participate

1* days of additional training expected

NOTE: A total of 10 hours of annual "additional" training is required of entry-level employees.

Goldman Sachs University (GSU) provides a wide range of entry-level and continuing education programs for employees at every stage in their careers. In addition to formal training programs, GSU offers over 2,000 classroom and online courses on topics such as: Products and Markets; Culture and Orientation; Diversity & Inclusion; Leadership and Management; Professional Skills.

Getting Ahead

Three-year retention rate: NA%

Five-year retention rate: NA%

How are raises determined?

Performance and Seniority

When are entry-level hires eligible for first raise? One-year anniversary

How are promotions determined?

Performance and Seniority

When are entry-level hires eligible for first promotion? One-year anniversary

Evaluations

Frequency of evaluations

Annually

Important qualities

1-Analytical Skills

3-Enthusiasm

2-Sales/Revenues

Min. tenure in years required for job change: 1.5

Describe any rules that apply: Current manager must know of interest in another position prior to first formal interview, and applicants are also expected to keep current managers informed of the interview progress and if an offer is made.

Long-Term Prospects

Does position of VP exist at this organization? No

If not, is there a comparable title? Managing Director

No. of employees who hold VP or similar title: 1,500

No. of employees with VP or similar title with 20 years plus seniority: 168

Age of youngest employee with VP or similar title: 29

Seniority of youngest employee with VP or similar title in years: 8