What it does: Goldman Sachs provides a considerable range of financial services, including investment banking, securities management, wealth management, asset management, and personal financial management to wealthy individuals and corporations.
Mission: Goldman Sachs' mission is to trigger sustainable economic advancement and create many financial opportunities worldwide.
Size and presence: This company employs more than 3,900 workers across its five offices in the U.K.
Best known for: Goldman Sachs has received numerous awards and recognitions. Careervault.com conducted its yearly survey on the top banking employers in 2016, and Goldman Sachs earned the top spot. This says a lot about the quality of services it offers. Goldman Sachs is also a force to be reckoned with in the banking industry and one of the most popular firms on Wall Street. Goldman Sachs is best known as the most prominent investment bank on Wall Street.
The good bits: Goldman Sachs offers attractive benefits and perks to its employees. The company has a great corporate culture which contributes to its excellent standard.
The not so good bits: It’s practically a miracle to get a job at a company as prestigious as Goldman Sachs because the company only accepts 3-4% of the total applications when it comes to job vacancies. Safe to say that the applicants will face a lot of competition.
The history of Goldman Sachs can be traced to Marcus Goldman, who founded the company in New York in 1869. In 1882, his son-in-law, Samuel Sachs, became a part of the firm. Sixteen years later, Marcus Goldman took his son, Henry Goldman, and another son-in-law into the business, and the company rebranded to Goldman Sachs & Co. In 1896, Goldman Sachs championed the adoption of commercial paper and became listed on the New York Stock Exchange. 2 years later, the company had a capital base of $1.6 million (1.4 million pounds sterling).
In 1917, Henry Goldman stepped down from his position, and Sachs took over the reins till 1918, when Waddill Catchings joined the firm. He became a partner and acquired the largest stake in the company. The company made some strategic acquisitions and agreed to some merger deals while growing its reach and worth. Fast forward to today, Goldman Sachs is one of the highest generating revenue earners in the world. Goldman Sachs came into the U.K in 1970.
Goldman Sachs is a very accommodating company devoid of racial, sexual, and gender-based prejudices. The company offers a very positive working environment, which motivates the workers to give their 100% to the growth and success of the company. The company's culture is established on collaboration, agility, innovation, integrity, diversity, and customer orientation. This sounds like the right environment for fresh graduates and interns.
Goldman Sachs usually conducts at least two interview sessions to evaluate its applicants. The process usually includes online assessments of selected applicants, technical interview sessions, interviews with the HR department, and the job offer. The entire process can take as long as two months.
Goldman Sachs offers promising careers to its workers. There are yearly summer internships that undergraduates and finalists can take advantage of. This gives them an insight into the banking world and what to expect from it. There’s also an intern survey programme where company associates, summer analysts, and interns come together to discuss and share ideas on several relevant topics. There are three programs for experienced hires. One of them, Bridge to Banking, is designed to help professionals transition from other financial areas to investment banking. There’s also the career pivot series.
A fresher at Goldman Sachs earns an average annual salary of £31,000.
Goldman Sachs is active in support of the cause of carbon neutrality and the adoption of renewable energy.
Goldman Sachs has been criticised for its involvement in the European sovereign debt crisis.