Goldman Sachs' graduate interview questions about the firm
All businesses want you to know about them when you're applying for a role. But Goldman Sachs takes this very seriously. Throughout the interview process, you’ll be assessed on just how much you know about the organisation you say you want to work for, and this will be the same whether you have a face-to-face, video or phone interview. As of September 2020, Goldman Sachs' graduate recruitment website mentions the use of in-person interviews; however, it is impossible to predict the effects coronavirus will have on interview processes over the coming months.
To explore some of the questions Goldman Sachs might ask about you as an individual and your skills, see our Goldman Sachs' graduate interview questions about you article.
Interview questions about Goldman Sachs: the basics
You might be asked something similar to:
- What do you know about Goldman Sachs?
- What are our main products and services?
- What do you understand about the role Goldman Sachs plays in this industry?
How to prepare
Read, read and then read some more. Start with the ‘Our firm’, ‘What we do’ and ‘Insights’ sections of Goldman Sachs’ website, which give vital information about the firm’s leadership, business standards, people and culture, an overview of its business and details of individual work in areas including its divisions for investment banking, consumer and investment management, investing and lending, global markets, sustainable finance, transaction banking and research. Its ‘Citizenship’ section outlines its environmental initiatives and its support for UK small and medium-sized enterprises (SMEs).
But don’t stop there. Uncover all sources of useful information: financial publications for news about deals, features on HR websites about its people management and, whenever you get the chance, consult with alumni or quiz previous interns.
Of course, to do this you need to understand the basics of your role – TARGETjobs Finance and TARGETjobs IT are good places to start.
Focus your response to the questions
Anybody can take the information they’ve found doing recommended research and regurgitate it when asked a related question, such as, 'what are our main products and services?' In order to stand out, show that you understand the business and are genuinely interested in joining it by elaborating on one of the points you raise in your response.
You should also ensure you focus on the area of the business to which you have applied. For example, if you have applied for a graduate scheme in the engineering division at Goldman Sachs, you could mention the growth of electronic trading and the introduction of new technologies, and ask about (or better still discuss) the possible impact it could have on the department and/or business.
Be prepared to refer to Goldman Sachs’ culture in your answers
We can’t emphasise enough that Goldman Sachs expects you to turn up to the interview with an excellent understanding of its culture and how its values and vision help to shape its business. Make clear your understanding of Goldman Sachs’ culture even where the interview questions don’t directly ask you for it. For example, you may be asked during your interview a question along the lines of, 'in what type of environment do you work best?' This is really for Goldman Sachs interviewers to assess whether you would be a good cultural fit for them.
How to prepare
Obviously start by Googling ‘Goldman Sachs culture’. There’s been a lot written about this topic. What do you learn, and how could your conclusions have relevance to the company’s people and its clients? Don’t forget the firm also has a presence on social media, including LinkedIn, Twitter and YouTube. The ‘Investor relations’ and ‘Media relations’ section of its website are also a mine of information about how it operates and sees itself in the market.
While doing the recommended research, jot down a few values that are prized by the bank. The business principles section of Goldman Sachs' people and culture page (in the ‘Our firm’ section of its website) outlines its corporate beliefs from client interests always coming first, to integrity and honesty being at the heart of the business.
You should then match your findings with examples from your own academic work, extracurricular or personal experiences to show that you’re not only aware of Goldman Sachs’ values, but that you have demonstrated them in your own life. When have you worked effectively in a team? Have you ever contributed to your community? Goldman Sachs is committed to investing in communities.
Don’t be thrown by commercial and technical questions
A very large part of understanding Goldman Sachs is having a grasp of its business. It’s no surprise that it seeks graduates who have commercial awareness. This means having a very good knowledge of its global markets, its competitors, and how its industry could be affected by wider financial, political and global events.
Particularly at second interviews for analyst positions, you could well be asked for your opinions on the markets; these could range from something along the lines of ‘Tell me about a recent deal that’s interested you’ to ‘Tell me what you know about drive to re-shoring among some global organisations?’ to ‘Recommend me a stock’. However, according to internet forums, you could also be asked how you would handle technical aspects of the job; these could range from ‘Briefly explain a discounted cash flow analysis’ to ‘Which is the best method of valuing a company and why?’ or ‘Why can’t you use EV/earnings or price/EBITDA as valuation metrics?’.
How to answer technical/commercial questions
There’s no getting away from the fact that you should have read up on how markets work before the interview. When you are in the interview, don’t bluff it if you don’t know the answer. Confess your ignorance and, if possible, explain how you would go about finding the information to give the answer. If it feels sensible, briefly turn the discussion to a related technical topic about which you know more and one that is still relevant to Goldman Sachs.
Relate to Goldman Sachs’ competitors
It is much less forgivable if you don’t show the following general knowledge about the company’s clients and the financial landscape in which the Goldman Sachs operates – whether or not you’re asked these questions:
- Who are our clients?
- What are the biggest issues facing our industry?
- Who are our competitors? What are the differences between them and us?
- What is the difference between Goldman Sachs client X and Goldman Sachs client Y? Take, for example, an institutional investor and a pension fund.
How to prepare
Allocate time to research Goldman Sachs’ competitors. Who are they? How are they performing? Is there anything unique about their business strategies? Again, look in financial publications for reports and commentary on recent activities.
Focus your response to the questions
If asked questions such as ‘Who are our competitors?’ and ‘What are the differences between them and us?’ avoid simply listing facts and names – doing this would tell the interviewers that your knowledge is limited.
Ensure your response has depth by making one or two comparisons between banks or investment management firms. You could, for instance, draw on the example above and mention that J.P. Morgan's investment banking arm has been the main driver of growth at the organisation; is this the case at Goldman Sachs?
It is advisable that you do specific preparation for any questions about the differences between Goldman Sachs' clients, as it’d be difficult to tackle them otherwise. To deliver a structured answer, think about two or three things that make the clients different. They could be the examples above, or the types of clients they in turn serve. Then identify what products and services the clients may want or be offered. However, bear in mind that this question could just be another way of finding out if you know what the bank’s main products and services are and who they’re targeted at; they might not want an encyclopaedic answer.