“12 hours, 10 interviewers”: How to get a job in the field of finance by the example of an interview at Goldman Sachs



    In our blog, we previously talked about what psychological tests employees take in financial companies, in what conditions financiers work, and what developers should expect in this area (a list of other relevant ITinvest vacancies is available here ).

    Today we will talk about how difficult it is to get a job in the field of finance - using the example of the interview process at the Goldman Sachs investment bank, which will help to form an opinion on what to expect when employment in a financial sector company.

    According to statistics, only 3-4% of the huge number of applicants get jobs at Goldman Sachs. It is not enough to be the best in your course, at the university or at your previous place of work. Each year, one of the most respected investment banks receives tens of thousands of resumes - graduates of the Ivy League universities go through rigorous selection .

    The path to Goldman Sachs is not only open to members of elite communities, but it is even more difficult for everyone else to get an interview, even for a summer internship. For a successful interview, you need to seriously prepare and prove that you really need Goldman Sachs, and not just you.

    Selection process


    An applicant with an impressive resume fills out an online application form and goes through two stages of interviews and testing. Typically, interviews and tests take three or four days. If a candidate is interested in Goldman Sachs and warns of important interviews at other companies, the process can be accelerated to one day.

    For example, according to the story of the former hedge fund manager Vladimir Novakovsky, the interview for the post of quantum or financial analyst lasted from 9:00 to 21:30. During this time, he managed to meet with 10 employees of the company - from an HR specialist to a vice president, solved a large number of mathematical and economic problems, passed the test for ability to work in a team and asked his questions.

    As advisedGoldman Sachs representatives, you should know your resume very well and be prepared to discuss any part of it. It is useful to plan ahead and prepare the main points for telling about yourself: studies, research, projects, and any other activities - all that will help to draw up your “portrait”, to understand the strengths and weaknesses.

    It will be good if you tell us about your interests in specific areas and demonstrate a desire to work and develop in the field of financial services. If you included your article or study in the resume, you should have a deep understanding of these topics, even if you worked on them several years ago - you may be asked to tell about these projects in detail.

    A candidate can share the latest news related to markets, tell about changes taking place on exchanges, show his knowledge about global processes and events at the micro level. Naturally, you need to know the stock quotes on the day of the interview. You can ask your questions - this is a great opportunity to show interest in the company.

    The main purpose of the interview is to understand whether you will take root in the team, whether you are motivated enough to work at the level of their standards. Therefore, you should definitely study Goldman Sachs in more detail: in which markets the company operates, what is its uniqueness, whom do they want to see as their employees, and why are you the one they need.

    In each case, the process may vary, but based on reviews people who have already been interviewed in GS can draw up a common plan for all.

    First stage


    During the interview, the candidates are tested for ability to work in a team, creativity, ability to fix problems, leadership skills, honesty, initiative, ability to work with a client, level of perfectionism and dedication.

    The first interview usually lasts at least half an hour, it is conducted by one of the senior employees of the department in which you are selected. The main task of this interview is to understand whether you are suitable as a member of the team. At this stage, you need to show your social skills and your true character. In this interview you will be asked for resume items.

    Also at this stage you may be asked why you want to work at Goldman Sachs, why in this position, they will ask about successes and failures, about interests, strengths and weaknesses. By the end of the interview you will be asked to ask your questions.

    Questions vary and depend on the person who conducts the interview. You may be asked unexpected tasks to test your ability to navigate in unusual situations. Sometimes in this interview they ask about something from the financial sphere - about the causes of the recent economic crisis, for example.

    After the interview, you must pass two tests: verbal and numerical, for each given approximately 20 minutes. The verbal test is similar to the widespread SHL tests, which provide passages of texts and statements from which you need to choose the correct option. There may be several correct answer options in a numerical test. Using the calculator is not allowed - to solve these problems, knowledge of high school is enough. Most often, the candidates who decide both tests are completely correct get to the next stage.

    If you pass the selection to the technology department, then instead of tests you will solve one problem on the example of a specific situation. Accomplishing this task requires developed analytical thinking.

    Second phase


    Invitations to the second stage sometimes have to wait up to two weeks due to the large number of candidates.

    The final stage consists of three or four interviews with Goldman employees, each conversation lasts approximately 30 minutes. Several people are present at these meetings, and they all ask you questions. The last interview is usually conducted by the vice president. The questions at this stage depend on the specific position and the level of knowledge expected from you.

    Throughout the process, GS employees test your competence, so you will return to the story of their achievements, goals and developed abilities several times. One of the interviews will focus on your technical knowledge - you can expect complex highly specialized tasks, questions to test logical thinking and many puzzles.

    Based on information from the Glassdoor website and anonymous surveys of employees, they identify frequently repeated and common questions during an interview at Goldman Sachs:

    • How would you rate a particular company?
    • How does China's growth threaten the German economy?
    • What problems may investors face in the future?
    • Where do you see yourself in 5 years?
    • Give an example of the moral dilemma you have come across.
    • How do you deal with stress?
    • You sit alone in a boat in the middle of the lake and drop anchor - does the water level rise or fall?
    • Tell about something interesting that you recently read.
    • How do you convince the client that their request cannot be fulfilled?
    • What will you do in your first year at Goldman Sachs?
    • Briefly describe your life in 30 seconds.
    • How many sewer manholes in London?
    • Which of the most famous and influential people would you like to meet?
    • Tell us about the problem that you had to face in the past, how did you solve it?
    • Can you name the moment when you did not meet the approved deadline?
    • What is more important - deadlines or the quality of the work done?
    • Can you give an example of a process that you have been able to optimize?
    • Tell us about your previous work.
    • What role do you usually play in a team?
    • What do your colleagues say about you?
    • Why could your colleagues choose someone to work for you?
    • Give an example of the moment when you showed yourself as a leader.
    • Would you call yourself a perfectionist?
    • What is more important - creativity or efficiency?
    • If you are arrested for what you did not consider a crime, what will you do?
    • Name a news article article that will affect Goldman Sachs business.
    • What happens when you type “google.com” in a browser? (by the way, an interesting material on this subject was published on Habré )
    • Is there anything exciting you in this work?

    In answers to such questions, they do not expect to hear the correct ones, but they are interested in how the candidate builds his reasoning.

    Final recommendations


    Technical knowledge alone to get into Goldman Sachs is not enough, you must be able to work with people and do it very well. Try to make contact and remember the names of people who conduct interviews with you - you may be asked about this, and social skills are very much appreciated. Behave confidently and actively, but without arrogance and selfishness. Knowledge of foreign languages ​​is very useful, try to show them if you can.

    Read all about the company and the department where you want to get a job, navigate their work, read the Goldman Sachs annual report. Follow GS news on social media and news feeds.

    Read business publications regularly to understand what is happening in the world of finance. But do not abuse professional jargon, especially if you do not know the exact meaning and application of these words, otherwise spoil your impression when you are asked to explain the term you uttered.

    You need to be patient - from the first interview to the final decision of the company, an average month passes, in some cases people wait for an answer for 2-3 months.

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