Goldman Sachs Internship 2024 – Requirements, Salary & How to Get One?
Updated December 7, 2023
- What Is the Goldman and Sachs Internship?
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- Off-Cycle Goldman and Sachs Internship (United States, Asia Pacific, India, Europe, Middle East and Africa)
- Is the Goldman Sachs Internship Paid?
- How to Become a Goldman Intern?
- Goldman Sachs Summer Internship Preparation Tips
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- Frequently Asked Questions
- Final Thoughts
Goldman Sachs is a global financial services and investment banking company headquartered in New York City. It has offices in major financial centers, including London, Hong Kong and Tokyo.
The firm was founded by Marcus Goldman in 1869 and is now considered one of the world’s most prestigious financial institutions.
Goldman Sachs is involved in various financial activities, including:
- Investment banking
- Asset management
- Securities trading and underwriting
- Mergers and acquisitions
- Risk management
- Private wealth management
Goldman Sachs is a prominent player in the global finance industry, which makes it a popular choice for college graduates applying for internship opportunities.
In this article, you can learn more about the Goldman Sachs internship 2024 program and ways to stand the best chance of success when you submit your application.
What Is the Goldman and Sachs Internship?
Goldman Sachs offers several different internship opportunities, including two summer internship programs available in the United States, Asia Pacific, India, Europe, Middle East and Africa.
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Here is some more information on the summer internships:
Summer Analyst Goldman Sachs Internship
This is an eight to 10-week summer program for undergraduate students.
For the 2024 program, applicants must be in their sophomore year of university studies or enrolled in a Bachelor’s or Master’s degree program and due to graduate between May 2024 and July 2025.
However, for Fixed Income, Currency and Commodities (FICC) and Equities programs, applicants graduating in 2024 and 2025 will be considered.
The program includes:
- Company orientation to learn about the organizational culture, responsibilities and benefits of working for Goldman Sachs.
- Training to set you up for success in the financial services industry
- The chance to contribute to real business responsibilities and work with other interns and Goldman Sachs employees
There is no requirement for applicants to have previous industry experience, although relevant finance experience will boost your chances of being selected for the program.
Summer Associate Program (Goldman Sachs Summer Internship)
This eight to 10-week summer program is suitable for graduate students with an advanced degree such as MBA, MD, LLM, MFin or PhD. Applicants must have at least two years of relevant work experience.
Summer Associates are expected to work closely with senior employees and Goldman Sachs clients.
The program includes:
- Tools to aid professional growth and career development.
- Opportunities and challenges to help prepare for your next career move.
- Support to build up a professional network with Goldman Sachs employees across the organization.
New Analyst Program – Goldman Sachs Internship
The New Analyst Programme is a full-time Goldman Sachs employment internship designed to help you learn about the business, develop key working relationships and build on your existing skills and abilities.
This program is suitable for students in their final year or those who are due to graduate between May 2023 and July 2024. The FICC and Equities division also considers applicants graduating in 2023 and 2024.
New Associate Program – Goldman and Sachs Internship
The New Associate Program is a full-time internship for people with between two and five years of relevant work experience and an advanced degree. Associates form an important part of the business and are supported to develop their skills and work closely with senior employees and clients.
This program is suitable for candidates graduating from an advanced degree program (PhD or MBA) between May 2023 and July 2024.
Off-Cycle Goldman and Sachs Internship (United States, Asia Pacific, India, Europe, Middle East and Africa)
This internship program is aimed at students currently pursuing their college or university degree.
The program length varies, but interns will receive personalized training opportunities and get the chance to work with fellow interns and Goldman Sachs staff.
Internship programs are available in the following business areas:
- Asset Management
- Conflicts Resolution Group
- Controllers
- Corporate Treasury
- Corporate and Workplace Solutions
- Engineering
- Executive Office
- Global Compliance
- Global Investment Research
- Human Capital Management
- Internal Audit
- Investment Banking
- Legal
- Operations
- Risk
- Tax
- Wealth Management
The Summer Analyst and New Analyst programs are also available in FICC and Equities (Sales and Trading).
Is the Goldman Sachs Internship Paid?
Goldman Sachs interns receive a competitive salary of around $59,500 per annum, although the Goldman Sachs internship salary varies between job roles and locations.
In addition to financial compensation, Goldman Sachs interns may be able to enjoy other employee benefits, including:
- Healthcare and Medical Insurance
- Vacation and Holiday Policies
- Financial Wellness and Retirement
- Wellness Services and Programs
- Childcare / Family Care Facilities
- Leave of Absence Policies
- Business Travel Assistance
- Scholarships
- Education Opportunities
- Flexible Working Opportunities
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How to Become a Goldman Intern?
There are four key steps to applying for a Goldman Sachs internship.
These are:
Step 1. Choose the Right Goldman Intern Program for You
Goldman Sachs offers a variety of internship opportunities, from one-week spring placements to full-time positions.
It is important that you research all of the business divisions to find one that best suits your experience, skills and interests.
You can also register for My GS Events updates to receive information on virtual and in-person information sessions, workshops, panel discussions, conferences and networking events.
These events are a useful way to help you decide which program(s) you want to apply for.
Step 2. Submit an Online Application
Once you have decided on the program(s) you want to apply for, you will need to submit your application.
You can submit an application for up to three roles. The application will take around 20 minutes to complete, and you will need to provide the following information:
- Personal details, including your name, address and contact information
- Education information, including your university/college degree and dates
- Exam results
- Grade/GPA
- Personal statement (300 words or less to convey your reasons for applying) – this is mandatory for European, Middle Eastern and African applications
- Language skills, including proficiency in other languages
- Current resume/CV as a Microsoft Word, Rich Text Format, Text or PDF file. This must be less than 512 KB
- Academic transcripts
To apply, you must:
- Visit the Goldman Sachs Careers page and select 'Apply' under the 'I am a Student' option.
- Choose 'Apply Now' And select Summer Analyst/Associate.
- Select the appropriate Recruiting Year
- Choose the appropriate position, role, location, division and subdivision
- Answer the remaining questions, upload your resume/CV and click 'Submit'.
Step 3. Attend an Interview
If your application is shortlisted, you will be invited to take part in a HireVue video interview.
This takes approximately 30 minutes.
If you are applying for an Engineering internship, you will also be required to sit a HackerRank assessment.
Step 4. Participate in the Goldman Intern Superday
If you are selected for the in-person interviews stage, you will be invited to attend a day of in-person interviews at a Goldman Sachs location.
In most cases, this will involve two to five interviews, although this varies between business divisions. Attending the Superday also lets you meet others already working in your preferred business division.
Step 5. Goldman Sachs Internship Application Periods
Applications for the 2024 Summer Analyst, Summer Associate, New Analyst and New Associate programs are open.
The application deadline is Sunday, November 19, for all business areas and locations except Engineering (Wednesday, January 31) and Warsaw (March 2024.)
Goldman Sachs reviews applications for Off-Cycle Internships on a rolling basis, so it is important to submit your application at the earliest opportunity.
Goldman Sachs Summer Internship Preparation Tips
Read on for our tips on getting an internship at Goldman Sachs.
Learn About the Company
Before submitting your application, you should spend time learning more about Goldman Sachs as a company, including its culture, values, purpose and organizational objectives.
Furthermore, as well as helping you to familiarize yourself with the company, you will be able to incorporate what you learn into your application, which will help you to stand out from other people applying for an internship with Goldman Sachs.
You can find people profiles and divisional descriptions on the Goldmansach careers page.
Choose the Right Program
You will also need to consider the different internship opportunities available at Goldman Sachs and which are best suited to your skills, interests and location.
You can browse all of the available Goldman Sachs job openings for interns here.
Before choosing a program, think about any prior work experience or extracurricular activities you have completed that might strengthen your application.
Connect With the Company Beforehand
Building up a robust professional network is vital if you want to succeed in the financial services industry.
As a Goldman Sachs applicant, you can register for My GS Events updates.
This means you will be sent information on virtual and in-person information sessions, workshops, panel discussions, networking events and conferences.
Signing up for these updates is a great way to connect with Goldman Sachs before submitting an application, and it can also be useful when you are deciding which program(s) to apply for.
Familiarize With the Assessments and Interview Process
Aptitude tests, assessments and interviews can be challenging.
One of the best ways to reduce the stress of an interview or job assessment is to make sure you know what to expect.
You can find free practice tests on the Psychometric Success website:
- Numerical reasoning
- Verbal reasoning
- Verbal comprehension
- Abstract reasoning
- Spatial ability
- Mechanical reasoning
Also check out JobTestPrep for a full suite of practice resources.
The Goldman Sachs internship hiring process includes a HireVue video interview and the Goldman Sachs Superday, which is similar to an assessment center and involves two to five in-person interviews.
You can find out more about the Goldman Sachs hiring process, including pre-employment assessments and interviews, on the firm’s careers pages. The company also publishes a useful Careers Blog.
Frequently Asked Questions
Yes, most interns at Goldman Sachs are paid. Goldman Sachs is a prestigious global investment bank and financial services company that offers internship programs in investment banking, asset management, securities and general finance. Financial compensation is provided to interns as part of its competitive internship program. This may also include other benefits such as bonuses and financial incentives.
If you want to secure an internship at Goldman Sachs, you will need to have academic qualifications from a top university or college, a solid academic record, relevant work experience, evidence of networking with industry colleagues, a compelling resume and cover letter, effective interview skills and competitive nature. It is best to apply early in the application cycle and be prepared to submit an application more than once.
It is not possible to confirm the Goldman Sachs internship acceptance rate as the firm does not disclose specific information regarding the percentage of interns who are hired into full-time Goldman Sachs positions upon completion of their internship program.
Interns at Goldman Sachs often face demanding work schedules, exceeding 40 hours per week, varying by division and role. Full-time interns might work over 80 hours weekly during busy periods, including evenings and weekends, while support roles typically align more closely with standard 40-hour weeks, albeit with potential fluctuations.
Goldman Sachs dates back to 1869, and its success and longevity in the financial services industry have contributed to its prestigious reputation. It operates on a global scale and has a presence in many major financial centers, including London, Hong Kong and New York. It also consistently ranks as one of the top firms in the global financial services league tables.
Goldman Sachs, a leading investment bank, provides services in mergers, acquisitions, IPOs, and financial transactions. It manages portfolios for diverse clients and offers products like mutual funds and ETFs. Additional services include securities trading, wealth management, research, lending, risk management, and trading/sales.
Yes, it is generally considered to be difficult to get into Goldman Sachs as an employee. The firm uses a highly competitive process for hiring new employees and applies rigorous standards to the recruitment process. Goldman Sachs is a prestigious employer, so its job vacancies attract thousands of highly qualified applicants from top universities and colleges.
Final Thoughts
Goldman Sachs is one of the world's most prestigious financial services employers.
It offers a range of internship programs to students and recent graduates who are looking to gain experience working in the financial services industry, including summer internships and full-time programs.
If you want to apply for an internship at Goldman Sachs, you will need to visit the careers website and submit an online application.
Before doing so, it is essential that you research all of the different options and choose one that is best suited to your strengths and personal circumstances.
As a leading financial services firm, Goldman Sachs seeks to employ candidates with a strong academic record, relevant coursework, leadership experience, teamwork skills and a clear interest in finance.
If you are selected for an interview, you will be expected to participate in several interviews, including technical and behavioral interviews.
Remember, the application deadlines and requirements vary between programs, so you must check the official Goldman Sachs careers website for the most up-to-date information on internship opportunities.
