Goldman Sachs Interview Questions
[Edit] Use the WikiJob forums to ask specific questions about interviews at Goldman Sachs and other investment banks.Generally speaking, Goldman Sachs is made up of 40-50% Oxbridge/IC/LSE students, with the remainder coming from the Russell Group of universities. All university degree subjects are acceptable for Goldman Sachs' graduate schemes, although technical degrees are preferable for technical roles at the bank. Places are limited and the number of applications for both internships and graduate jobs is very high, so your application must be as competitive as possible if you want to be successful.
The application process consists of:
- Online application form
- First interview
- Assessment Centre
Although these will vary from department to department. For example, Operations does not do a group exercise, but they do a first round numeracy test. Technology does a first round case study.
Motivation
[Edit]It is especially important that you make clear in your written application or covering letter your motivation for working at Goldman Sachs.
Online Application Form
[Edit]You will be required to provide:
- Contact information
- Education history
- Language skills
- Exam results
- Work experience
- Any certification
- Technical skills
- Motivations for applying to Goldman Sachs.
Certain language skills are required for some roles, and there are minimum academic requirements.
Work experience is a definite advantage as it clearly demonstrates commitment to career.
You must also demonstrate your motivation for joining Goldman Sachs in particular.
Goldman Sachs Competencies
[Edit]Goldman Sachs cite the following core competencies as essential qualities in all candidates:
- A passion for excellence ('Excellence is all we do')
- Belief in the power of the group
- Integrity - You will need to be 100% ethical in all that you do.
- Leadership - Candidates should demonstrate that they can go the extra mile for a client and are able to take a long term view wherever possible.
- A desire to be challenged, especially intellectually.
- A desire to make your mark on the world.
You should also be looking to demonstrate commercial awareness and commitment to career, and an understanding of what services Goldman Sachs provides to its clients.
You can prepare for difficult interview questions and perform better at interview - click here
First Interview/Assessment
[Edit]Goldman Sachs will sometimes perform first round interviews at universities. This is particularly true of Oxford and Cambridge for summer internships.
The initial interview/assessment day consists of:
- Numerical & Verbal Test (20 minutes each)
- Business Interview (sometimes)
- Competency based interview
Your first interview will be with two Goldman Sachs staff members from the division to which you have applied. You will be looking to demonstrate the competencies listed above and show that you are "bright, articulate and genuine." You will also need to demonstrate commercial awareness, and a general knowledge about the marketplace in which Goldman Sachs operates.
Tip: Make sure you have at least two examples prepared of times in your life where you have demonstrated the competencies described above e.g. two examples of when you have had to lead a team.
Make sure you have read the financial papers. Examine the Goldman Sachs news feed above to see where they have recently appeared in the headlines.
Numerical & Verbal Test
[Edit]The numerical and verbal tests are designed to check your mathematical and verbal ability. They do not require any skills beyond GCSE, although candidates with a non-mathematical degree would benefit from practicing these kinds of tests before they attend the assessment day. Also unusually there is no calculator allowed for the numerical.
Most people will need to practise the numerical reasoning test to pass it. Pages 7-23 of this book
Each test will last 20 minutes.
Get numerical and verbal test practice here
Business Interview
[Edit]This is a 30 minute interview, and is not always carried out, but is popular amongst those applying for internships. You will be provided with a business scenario prior to the interview, where a number of options will be open to a business. You will be required to consider the scenario and form a conclusion based upon it. You will have 30 minutes to prepare you argument and make notes. During the interview, you will discuss the scenario, and the interviewers will ask you questions. You can reasonably expect the interviewers to criticise whatever you say, so you must back up your points sufficiently. The will be looking for:
- Good communication skills
- Clear, logical, analytical thinking
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Competency Based Interview
[Edit]Core competencies you they will be looking for include:
- Teamwork
- Leadership
- Working under pressure
The interview will be conducted by a manager from the line of service to which you are joining. The interview may last between 30 minutes and one hour. The interviewer will wish to discuss any work experience you may have done to date, and also any other notable items on your application form. There will also be some competency questions. You can reasonably expect the following questions to be asked:
- Describe a time when you were a leader in a team situation. Teamwork
- Can you give me a situation where things haven't gone as expected in team environment? Teamwork
- Can you tell me what exactly you did at x and y when you did work experience?
- How have you coped with disagreement in a team/leadership situation? Leadership
You may also be asked:
- Why are you interested in applying for the line of service you have applied for?
- Why Goldman Sachs?
- Why should we employ you?
A crucial element of this interview is having questions for your interviewers, your quality of questions are as important as your answers to their questions so have some prepared.
Tip: On a busy day, they may interview up to 300 candidates. This means your interview may be shorter than you would like, and the interviewer may seem uninterested as they will be asking the same questions all day. Try not to take it personally - it may be very difficult for you to judge how well the interview has gone.
You can prepare for difficult interview questions and perform better at interview - click here
Investment Banking - Assessment Centre
[Edit]The assessment centre will consist of two competency based interviews and a group exercise. You will also have the opportunity to look around the offices and attend a networking session.
First Interview at Assessment Centre
[Edit]The first competency based interview will be with two interviewers, who will ask questions in turn, and will last approximately 45 minutes.
Tips:
- Read about the company
- Read about the division which you are joining
- Read the Goldman Sachs annual report (available online)
You can reasonably expect the following questions to be asked:
- Why Goldman Sachs?
- What do you know about Goldman Sachs?
- Why this division? What do you know about it? Describe what we do in this division.
- What will you be doing in your first year at Goldman Sachs?
- Why an internship/graduate scheme?
After this, you will then be asked competency questions. You can reasonably expect the following questions to be asked:
- Tell me about a time when you had to work in a team and something went wrong?
- Tell me about a time when you could not meet a deadline?
Tip: Prepare examples for the competency questions prior to your interview. Responses to these types of questions are difficult on the spot if you have not already thought about it.
You can prepare for your Assessment Centres with interview training like this - click here
Second Interview at Assessment Centre
[Edit]Your second interview is likely to start immediately after the first. Your interviewers will be two managers from the division to which you have applied. The purpose of this interview is to determine if you possess the correct skills and demeanor to work in this division. Make sure you understand what skills will be required of you for the appropriate line of work. You should make certain you are familiar with all the information relating to the division on the website (and the websites of other investment banks) and ensure that you fully understand what the division does. For example, you may be asked:
- How can you cope with stress and a messy environment? Give an example.
Group exercise
[Edit]You will be placed between 6 to 9 candidates. The Goldman Sachs group exercise is different from the those carried out at most other firms. You will be pretending to be a group of managers who are selecting people for an important task (on which you will be briefed). Each candidate is given 5 cards. On each card is a person's name and a personal quality. Based on this information, you will then discuss on who would be best suited for the important task.
Tip: Make sure you contribute to the group but also encourage and allow others to speak. You should be fair and allow everybody to contribute equally, but also make your own opinions clear and be firm in your convictions. If another candidate disagrees with you, make sure you put forward the reasoning behind your arguments and convince them that your opinions are justified. Finally, ensure that your group reaches an agreement/conclusion before the allocated time has run out.
You can prepare for your Assessment Centres with interview training like this - click here
Private Wealth Management - Assessment Centre
[Edit]The assessment day for private wealth management consists of four 30 minute interviews. The interviews will all be managers in the division. The purpose of the four interviews is to determine if you have the social skills necessary to deal with different kinds of people. This is particularly important in private wealth management where you will interact with clients frequently.
Questions you are likely to be asked:
- What were the names of your last interviewers?
- Why do you want to work in this division?
- What is the exchange rate between the euro and the dollar?
- How did the US market do last year?
- Do you think maths is important to a career in IB?
- Do you do any financial modelling?
- Tell me about your stock portfolio.
- Why did your choose your University/degree subject?
- Why Private Wealth Management and not Asset Management?
For further information about graduate jobs, interviews and assessment days at Goldman Sachs or other investment banks ask questions in the WikiJob forums.
You can prepare for your Assessment Centres with interview training like this - click here
19 January 2010 - 6:33pm
vorzan
Hi all,
This is my experience at Goldman Sachs for a graduate scheme at their Global Investment Research (Equity).
I imagine it can be pretty different depending on 1) the division applied for 2) the student’s background.
First round: 30 min, two interviewers. Competency based plus motivation question (why research in finance? give me an example of an achievement/a situation where you were out of your control zone + an example of something you had to do under time pressue + an example of a time when you had to influence others). Quite “classic”. Time for me to ask questions. Got emailed back the next day to book in the second round.
Second round: 45 min for the tests and 5 interviews face to face 30 minutes each, no break. 7 to be interviewed candidates had no break to break of 30 min to 2h btw interviews. Tests: Verbal and Numerical NO calculator. Interview Questions: How has the market evolve the last year. What’s the difference between company X and Y. Value company X. One Fermi type question. Why interested in equity. What would you do if i gave you 10m$. If company X trades at 9 times their earnings and company Y at 12 times which one is the most interesting. What is the value of the car insurance market in UK. Why should i hire you. Question on courses i attended. What’s entrepreneurship? Why finance. If you’re interested in economy and finance why don’t you just read the ft? I give you £1000 to invest for a year where do you invest them? You’re given company X's annual report, estimate their revenue and profit for next year. What’s your greatest achievement. What did you do at company X. Which sector would you be interested in. What are your strength and weakness for the job. What would you need to develop. Which skills would you need to develop at GS. Do you have any sale skills. How do you feel like working in a team? What if you don’t like the job after 3 years? Why GS more than UBS? Why GS has such a bad press?
Got called back a week after to tell me I did not get the job and give me feedback. I kind of expected it was negative as I trusted that if it was positive they would have called me the next day like after the first round but maybe I am wrong.
Hope that can maybe help.
18 April 2010 - 8:14pm
protein_master
Does anyone know what the pay is like for a graduate starting this year? :)
18 May 2010 - 1:21pm
Alya
Hi!
A couple of questions re GS legal department:
1. What does the position of a legal analyst entail? 2. What kind of questions are they likely to ask? Do I need to know a lot of finance? 3. What kind of questions should I ask? I.e. what do they like to be asked about?
Thanks very much in advance!
1 November 2010 - 5:13am
anonymous001
Hi,
I applied to GS and received an e-mail for an interview in the Finance - controllers department. Does anyone know the type of questions I would be asked? Is it very technical or more behavioral?
Any help would be appreciated.
Thanks
12 November 2010 - 4:07pm
protein_master
They will ask the obvious questions.
What recent mergers have GS been involved with? Who were the founders? what was their sexual preference? etc..
12 November 2010 - 11:26pm
anonymous001
Just had my first round of interview in the Finance-controllers division. The interviewer was very nice. Asked basic financial ratios, asked about my particular experience, why GS, what I know about the controllers division etc. Threw some trick questions, which I was able to answer with much help. Just make sure you REALLY know everything you put on your resume and be ready to elaborate.
Hope this helps!
25 November 2010 - 5:54am
anonymous001
Hey there everyone, I had my second round (2 back to back interviews) last week Friday, and haven't received a response as yet. Does anyone know around how much time it takes for a decision to be reached? Should I be worried that I'm eliminated or is this normal? Any response would be helpful! Thanks!
26 November 2010 - 5:23pm
niao
Hi Guys!
I would just like to tell you about me application experience with GS. I applied for the Legal Analyst position
My first round interview was based on my cv except the following questions: 1) Where do you see yourself in five years time 2)Why Goldman Sachs?
I then got a call the following day inviting me for the second round.
My second round consisted of three interviews. Again they were based on my CV except for the following: 1) How do you keep up to date with the news 2) Why should we pick you 3)where do you see yourself on 10 years time 4)Why did you go to the Uni that you did 5) What deals are you aware of that we have done 6) Do you know what business area you will be working in 7)What appeals to you about GS 8) you don't have finance experience, how will you cope with the role?
I got a call the next day to tell me I was successful. I start July next year.
Guys I also want to say that I applied in 2008 and 2009 and got rejected outright! So if that is the story of any of you guys, dont be discouraged - just take another look at you CV and covering letter and if possible go along to career events and get a professional to look at it for you, ideally someone who works in an investment bank. It may need re-doing as mine did!
Also I did not go to Oxbridge, UCL, KCL, LSE or Imperial!
7 January 2011 - 8:14pm
supergrad
Hi Guys
I ham due to attend the first round of interview for an intership position at Goldman sachs. However, I am struggling to find any information online likely to help me prepare for the interview. what sort of questions are generally asked. are they solely related to GS core competencies?
Any input will be appreciated.
Thanks
8 January 2011 - 1:15am
anonymous001
Hey,
Which division are you interviewing for? I interviewed for Finance - controllers division (full-time). First round was entirely technical, and second round was behavioral. No matter what division you're going for, know about GS, its divisions, its line of business, and be aware of current events. Visit glassdoor.com. It has questions interns/employees were asked. It might provide some insight.
Cheers.
20 January 2011 - 12:51am
anonymous001
Kishhh,
Have you completed your undergrad? After your graduation, you can still apply for a summer analyst position or do you need to be enrolled in a university?
Thanks.
21 January 2011 - 10:12am
Westcoastbanker
Hey guys,
I have a first round interview with GS for a summer analyst position on Monday. I have already went through their 10k, current deals, and 14 principles.
I am prepared for the questions like: Why GS Why IBD Why Finance Tell me what you know about IBD How do you keep up to date with the news Why should we pick you where do you see yourself on 10 or 5 years time Why did you go to the University that you did What deals are you aware of that we have done ect...
Is there anything else I should look at? I am from a state school in Oregon and I may never get another shot, so this is big for me.
Any help would be awesome!
21 January 2011 - 8:51pm
niao
@anokkk i start at GS in July. Ive already graduated.
@Westcost - you seem very well prepared. Just make sure you know your CV really well and can demonstrate the skills you will bring to GS that you learned from all your work experience & extra curricular activities. For example I was asked things like " I see you worked in retail for three years, what skills can you bring from that experience to GS?" "what did you learn from your experience as a Treasurer of your uni society that will benefit you in your role at GS?" Good Luck!
22 January 2011 - 7:41am
Westcoastbanker
@ niao- Thank you for the advice. That is awesome that you got the job! Where will you be working?
2 February 2011 - 3:15am
mei06
hi all
I need some urgent help! I have been extended an offer at GS ops analyst lately.
I am so worried about the background check process, would appreciate all your help!
I claimed that i obtained a 2.1 in my undergraduate on my app form however i was 2 marks off a 2.1. What should i do? should i come clean or wait til they found out? have any one heard or experienced anything similar situation? Should i tell them it was a mistake or should i be honest to them? arghhhhh
Thanks for all the advises in advanced.
cheers
7 August 2011 - 11:30pm
NRU
Can anyone help?. I want to apply to the Human Capital Management Intern program at Goldman Sachs but graduated three years ago. I am embarking on a career change and from the website see that most New Analysts start on the intern program. I have 2 years banking experience in a different area but want to pursue this area of interest. Does anyone know if I am still eligible to apply for the intern program having graduated from my Masters in 2008. Thank you.
26 August 2011 - 2:12am
DDAAZZ
Has anyone actually worked as a legal analyst for GS? I just wanted to know what the process of getting the job was, numerical/verbal tests etc..
I heard for the new analyst position for the legal one specifically their are only interviews and some tests but no numerical tests, is this true??
thanks!
27 August 2011 - 6:29pm
anonymous001
Hello everyone,
I recently completed my undergrad and passed cfa level 1. Any chance of landing an interview as an analysis at GS?
Thanks in advance for all your help!
31 October 2011 - 7:00pm
test999
Hi
Can anyone provide any advice how I can best prepare for a 30min graduate interview this week.
It is for a Graduate position in the Investment Banking / Financing Group Sector.
Thanks
31 October 2011 - 7:00pm
test999
Hi
Can anyone provide any advice how I can best prepare for a 30min graduate interview this week.
It is for a Graduate position in the Investment Banking / Financing Group Sector.
Thanks very much
31 October 2011 - 7:00pm
test999
Hi
Can anyone provide any advice how I can best prepare for a 30min graduate interview this week.
It is for a Graduate position in the Investment Banking / Financing Group Sector.
Thanks very much
1 November 2011 - 4:47pm
matt89
congrats! I take it they have started getting back to people now then. Are you getting interviewed for both the divisions you applied to? Can't offer any advice really apart from make sure you know your CV, which is what people have always told me in the past! When is your interview? They say they get back to applicatns within 2 weeks after the deadline so if I haven't heard back from them by the end of the week then I won't get my hopes up!
2 November 2011 - 3:30pm
simpletricks101
Anyone else received an interview invite yet?
I applied to IBD / SEC. Heard nothing as yet.
4 November 2011 - 3:40pm
vladlit
Same comment as 'Simpletricks101'. Any news from GS regarding IBD positions? If not, what is the usual time frame in which GS answers to applications? (heard is wayyyy longer than other IB Banks)
Cheers
24 November 2011 - 5:12pm
funhouse
Here's my Goldman Sachs experience thus far... I put my application in shortly after it opened in August 2011 and heard nothing for over 6 weeks. I then got a phone call asking to come for an interview in London for a position to start very soon (I applied for 2012 start). I had a great interview and they said they really liked me but they couldn't take me further and would like to keep me on file. Because I have three applications in for 2012, the status hasn't changed for any and I haven't been rejected from the one I was interviewed for. I'm wondering when we will here back for 2012? I have application received for two and application under review ( and has been for about a month) for one...
30 December 2011 - 10:48pm
sunshine250910
Hi,
Does anyone have an idea, what the first round interview for HCM is?
Thanks :)
14 February 2012 - 11:10pm
supermoon
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Hello Every one.
Could you please share - what kind of question would be asked in GD & in what way we need to answer to those question to understand better?
Plase share your thoughts on this?