Would you like a Golden Ticket at Goldman Sachs?

Interested in making a fortune in investment banking? Preferably at Goldman? Here’s a tutorial created by 5 bankers advising you how to get hired:

Are you after the watching the video up to the challenge of convincing Goldman Sachs to hire you? Would they consider you part of the inner circle?

Is becoming a partner still equivalent to wealth beyond imagination?

It is said that Goldman Sach’s partners are its highest executives and its biggest stars. The rumours are many but what’s really going on behind the scenes? An examination by The New York Times looks at the power and wealth of this secretive group:

Or maybe the world is changing and the allure of the financial markets is a thing of the past?

So is a career in Goldman Sachs still the lucrative ticket it was? Would a Golden Ticket make you happy? What have you got to offer them? Would they be interested in you? Or maybe you are not interested in joining Goldman? Maybe you think investment banking is a bad choice of career?  Is trust in brokerages declining? Will that result in a trend of more and more people opting for careers in other sectors?

Videos: BreakIntoBanking & The New York Times – You Tube

84 responses

  1. I remember used to having an interest in going to i-banking, but that was right before the many of the banks collapsed in Fall 2008. That and I remember visiting the Barclays HQ in NYC, and seeing how stressful of an environment it is. No matter how much they'd pay me, the hours and stress are way too much. Life is too short to be all about money.
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  2. Hi Catarina,

    No amount of money could interest me in a career in this field, I would be bored and I want to spend my time doing things that I love and am passionate about! :)

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  3. I couldn't imagine a career in banking, far too corporate for me!

    I have a few friends in banking and whilst it's been a touch year for them no doubt they would want a gold ticket:)
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  4. As always, a well written post Catarina. I enjoyed the videos. I for one would not enjoy a career in banking. I enjoy working with numbers but I prefer something more creative.
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    • Thank you Sherryl. Agree with you. Having said that though, the people inventing the new investment products are really creative. So creative not even they understand exactly how they work.:-)

  5. Definitely do, Tisha. But the interesting point about this post is if people are as interested as they used to be in a career in investment banking? Or has their behaviour that caused the recent recession made people opt for other sectors?

  6. Kostas, it's not about Goldman as such but if people are less interested in a career in investment banking now than before Lehman Brothers collapsed.

    Goldman just happaen to be the one that most people dreamed of working for. Are you aware of the amount of people who did everything in their power to get a foot in the door of Goldman Sachs? Once they were in they slept a couple of hours a night in a sleeping bag underneath their desk. Yout last sentence about reputation in Europe applies not only to Goldman but investment banks as a whole, I'm afraid.

    By the way you could be an independent investor and have your freedom:-)

  7. Catarina — To be crass about it, if you're a person who wants to make a lot of money and potentially join the 1% of very rich people that President Obama would like to tax some more, then rush to join Goldman Sachs. It's still the gold standard of investment banks and many people would kill to work for the company.
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  8. I can't see myself working in any Wall Street firm. Not my kind of life. Maybe a company like Google, but even then, 'il faut cultiver le jardin" – I gotta go work in the garden, is more my kind of draw.

    I could possibly see my son working at one of these firms, if they gave him good math problems to solve. I have a friend who has a PhD in math who has done very well on Wall Street.
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    • Agree with you Leora. Besides Wall Street would not hire me. Know several people who have done very well there. It's interesing isn't it that despite how they caused the economic crisis the American dream has survived and an abundance of people still would to anything for a job there.

    • Personally have no interest in working on Wall Street, either, Doreen. But an abundance of people still do even though the street crashed the world economy. Interesting, isn't it?:-)

  9. I can’t imagine working for Goldman Sachs -maybe when I was younger I might have enjoyed the challenge but I do think I would have been swallowed up with no other life. Guess its just as well things turned out as they did.

  10. I would not like a golden ticket at Goldman Sachs though I have no criticism of those who would. My pursuit of money was pleasurable at the time though I took more satisfaction from adding value and generating operating profit than from those aspects primarily concerned with buying and selling investments. Nevertheless there are some very talented people who do it.
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  11. Hello
    Another great post.
    I really enjoyed the videos but I am not a type of person that is interested in any banking filed.
    Goldman Sachs or golden ticket is not of my type… There are many reasons behind that…. As my religion tells, If you have more money test on Doom Day will be hardest…
    Secondly such money is never easy as it becomes with lot of work and stress.

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  12. Nope! Not for me…the politics of any organization like Goldman Sachs would make me crazy…or crazier:)

      • I think that's an opinion Catarina. The video you presented leaned a bit towards one side of an issue…the NY Times does that and I say that as a subscriber to the NY Times. Any investment is a risk…it's legalized gambling. Nobody can sell you something that won't work out to your benefit if you are informed. That's the key, as far as I can see…be informed about your investments…no matter who is making them on your behalf. Wanting to make a lot of money doesn't make someone a bad person. Investment banking in the US is more regulated today than ever before. As my grandmother used to say…there's a lid for every jar
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        • Yep, Jacqueline. Catch is the derivatives. They are usually based on a mathematical calculation that x,y.z should happen. The problem is that not even the person who made the calculation knows what will happen if it doesn't work out according to plan. And derivatives are still not regulated properly. By the way, one of my ex'es was a top guy on Wall Street and he is not a bad person.

          • Yes the derivatives are a conundrum. My firm does not deal in derivatives unless they have specific instruction/permission form the client. Again, I think there is personal responsibility here in knowing what anyone is doing with your money. Happy that your ex is not a 'bad' person! Hahahaha! Wish I could say the same about mine :)
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          • Jacqueline, I think investors are more cautious with derivatives now because of their huge role in the economic crash. It's advisable to avoid derivatives completely considering that even the guys who came up with the mathematical formulas fully understand how they work. Do you have a firm that deals on the financial markets?

  13. I have never wanted a golden ticket because I like my life and free time. I like spending time with my kids and not being in the office 60 hrs a week. Great post.

  14. I have absolutely no interested in that kind of career, much less one with Goldman Sachs. First because I'm not suited for it, second because I wouldn't find joy in doing it. I do think there is a need for good investment advisers. I have one. She has been the very reason I'm able to do what I do. However. I do know that it's hard to find a good one but boy when you do, it's a gift beyond measure. :-)
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  15. I want to have enough money (maybe even more than enough money as a cushion just in case), but I could never be an investment banker where my duty was only to shareholders and where the employees of companies being bought and sold or invested in or divested from are considered little more than widgets. I'm a capitalist. I started and helped run a small business. I hired and fired, but I didn't sell my soul. Further, the people I know who are investment bankers or way up on the food chain of large financial institutions (and I'm related to some and expected to socialize with others), literally make my skin crawl.
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  16. This just reminds me how happy I am working at home, not being a part of the corporate world! The money's not as good, but I don't think you can beat the job satisfaction rating!
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  17. At first, I thought a golden ticket sounds good, especially considering my teacher salary, but on second thought money isn't everything with long hours, a tedious work load, surrounded by ruthless individuals. I laughed when I read that your post was about investment banking. A few months back I read, "Trust me I'm a banker" by David Charters. It's a satirical portrayal of one man's journey through the world of investment banking.

    • It's interesting isn't it, Dana, that even though Wall Street was a huge contributor to crashing the world economy, millions of people all over the world would do anything to work for Goldman. One of my ex'es was a top guy on Wall Street so I know how it works.

  18. This sounds like a dream for anyone who is passionate about trading and thank goodness we have people who do, but it's not for me.. Oh don't get me wrong I would frown at an extra million or two in my bank account… to think of ALL the people I could help with that! But for me wealth is so much less tangible than that, and there are many things such as time with my family that are truly priceless. Great insight though Catarina, thanks for sharing!

  19. Since I have really no interest or desire to get into corporate, let alone banks, this just didn't catch my attention. I tried to fake myself into, "WooHoo! A banking job." Didn't work though.

    "Exclusive club." It still is. And they just aren't my type of people. "Well paid," not as important? Seriously that is bull – excuse my language which I toned down.

    I doubt they will ever change. Yuck factor for me.
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  20. Hi Catarina,
    The banking industry, let alone Goldman Sachs, would not interest me as it does not align with my interests or my passion. I can see how you've put this together how some people who don't wish to give the standard answers in an interview may want to take advantage of this.

    Kind Regards,
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    • OK; Paul. The reason I put this together is because I am fascinated by the fact that millions of people world-wide would still almost sell their soul to work for Goldman. How they contributed to collapsing the world economy is forgotten.

  21. Working in the banking arena has got it's blows during the last years – as well as in Sweden. I guess as long as there are passion involved and true meaning to the goals I do understand the attraction to GS. I hope and believe people at some time in their life seek a deeper meaning to what they are involved in during all those hours at work.

    • Mirsad, the bonuses are so high milions and millions of people all over the world still dream of joining Goldman. The allure of the bonuses is higher than seeking the meaning of life.

      • I am aware of that of course! Money many times carry you onwards in life, but sometimes it clouds your path forward.

        • Personally know a lot of top guys on Wall Street including one of my ex’es. Many of them come from affluent backgrounds and have different values than Swede. Have actually never come across a Swede working for a top Wall Street bank. Since I got back from living abroad for so long I have noticed that there is a huge emphasis in Sweden on what you stress and that’s nice. There are numerous coaches that make a living showing people how to be happy. But, despite that, you have Swedes who would sell their souls for a golden ticket:-)

  22. I left the corporate world and have no intention of going back. So no I would not like a Golden Ticket. Exclusive club it is. I agree. If someone has the right connections or enough money, they could probably gain a ticket.
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