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

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85 Responses to “Would you like a Golden Ticket at Goldman Sachs?”

  1. catarinaalexon Says:

    Glad you like it Richard.

  2. Harrison Says:

    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.
    My recent post Your Resume Gap Doesn’t Have to Suck

  3. catarinaalexon Says:

    OK, so you decided against a career in banking recently, Harrison.

  4. Stacy Says:

    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! :)

    Stacy
    My recent post Blogging Tips 101 Contest

  5. Susan Oakes Says:

    Another really interesting post Catarina. I can say I would not be a candidate for Goldman Sachs. That said I think being an investment banker will always be attractive for some and one reason is the lure of money.
    My recent post What do Pinterst and Paul’s Hamburgers Have In Common?

  6. Lilach Bullock Says:

    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:)
    My recent post Why you should be guest blogging

  7. catarinaalexon Says:

    OK so a Golden Ticket at Goldman is not for you Stacy.

  8. catarinaalexon Says:

    Agree with you Susan. Have the same opinion.

  9. catarinaalexon Says:

    Rebecca, out of interest, why are you glad there are people out there that investment banking appeals to?

  10. catarinaalexon Says:

    Agree with you Lilach. It's not for me but there are people out there who want a Golden Ticket.

  11. catarinaalexon Says:

    So you are not interested Lou. Did you work for Goldman Sachs or any other top Wall Street firm?

  12. Mika Castro Says:

    Catarina, The video gave me an inspiration to work better. Like Goldman Sachs did, He actually don't look on professions of others, He just work well as a wise person and has a positive attitude.
    My recent post לימודי נטורופתיה

  13. catarinaalexon Says:

    OK, makes sense Rebecca.

  14. catarinaalexon Says:

    OK Lou.

  15. catarinaalexon Says:

    Glad the video inspired you Mika.

  16. Lesa Says:

    I would have been interested in working at Goldman Sacks when the business was just getting started, but that's because I love entrepreneurship. But now, I would find it just as boring as I do working in any established company. Way too many rules and hierarchy for me.
    My recent post New Business Goals for 2012

  17. keepupweb Says:

    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.
    My recent post How to Balance Traditional and Social Marketing Strategies

  18. catarinaalexon Says:

    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.:-)

  19. catarinaalexon Says:

    Good points Lesa.

  20. catarinaalexon Says:

    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?

  21. GuyW Says:

    I suspect that the banking fraternity today is viewed in the same way as used-car salesmen used to be :-)

  22. catarinaalexon Says:

    Love that expression, Guy!!! Some of them should be…

  23. catarinaalexon Says:

    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:-)

  24. catarinaalexon Says:

    OK Srinavas so you changed your mind about a career in investment banking. Because of their recent behaviour?

  25. Alan Cheng Says:

    Working for Goldman in a position that would earn a lot a money means that you will need to be prepared for a lot of stress. It's not easy money.

    Goldman would likely hire you for your connections. Unfortunately… I don't have those type of connections where people have millions to invest. So it's not for me :-(
    My recent post Email Marketing – Mistakes Marketers Make On Ruining Response Rates

  26. catarinaalexon Says:

    In other words Alan, you would be interested but don't believe they would be interested in you:-)

  27. Anon UK Says:

    That's because we're all Keynesians!

  28. Jeannette Paladino Says:

    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.
    My recent post Optimizing Your Title Tag for Search Engines

  29. catarinaalexon Says:

    True Jeannette.

  30. Leora Says:

    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.
    My recent post WordPress Business Benefits: the Biz Blogging Platform

  31. catarinaalexon Says:

    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.

  32. Doreen Pendgracs Says:

    Doesn't interest me at all. I've been a freelance writer for the past 20+ years and wouldn't trade my independence and creativity control for all the tea in China.
    My recent post Write on! The writing process blog hop

  33. catarinaalexon Says:

    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?:-)

  34. yearwoodcom Says:

    Not my cup of tea at all. I can't even imagine myself doing that kind of work. I like money as much as the next person, but not enough to make it my calling. Now if the question was about Google or Apple, I'd be all over it. :)
    My recent post Lean Back, Do The Job You’re Capable of Doing

  35. catarinaalexon Says:

    Not my cup of tea either, Debra. But an abundance of people would to anything to get hired by Goldman.

  36. Lenie Says:

    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.

  37. Paul Graham Says:

    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.
    My recent post The Friday 13 Pet Peeves at The Daily Wail

  38. catarinaalexon Says:

    Don't worry, Lenie. They will hire neither you nor me.

  39. catarinaalexon Says:

    Somehow don't think you are that kind of a person, Paul. One of my ex'es was a top guy on Wall Street.

  40. andleebakhlaqkhan Says:

    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.

    My recent post Basant …. A Seasonal Kite Flying Festival.

  41. jacquiegum Says:

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

  42. Sandy Says:

    I can barely balance my cheque book – I don’t think Goldman Sachs would hire me even if I had the right answers :)

  43. bethnieb Says:

    I have never been interested in that type of career. I have been an entrepreneur for 30 years and I love being the boss and having the responsibility as well as the opportunity to help people achieve their goals.
    My recent post Write for your readers, not yourself!

  44. Jay Says:

    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.

  45. Susan P Cooper Says:

    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. :-)
    My recent post Winery Marketing, A New Phase: #Wine

  46. boomeresq Says:

    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.
    My recent post “If You Want to Make God Laugh, Tell Him About Your Plans.” Honolulu, Hawaii Edition

  47. catarinaalexon Says:

    Thank you Andleeb. We have taken note that you don't want a Golden Ticket at Goldman.

  48. catarinaalexon Says:

    Don't you think that's only a minor issue, Jaqueline? How about selling products to investors you know will not work out to their benefit?

  49. catarinaalexon Says:

    Sounds like you are a no-no for Goldman, Sandy.

  50. catarinaalexon Says:

    Don't you think people at Goldman also thinks they are "having the responsibility and opportunity to help people achieve their goals", Beth?

  51. catarinaalexon Says:

    We have taken note that you don't want to work 60 hrs a week, Jay.

  52. catarinaalexon Says:

    Seems we agree, Susan.

  53. catarinaalexon Says:

    The Golden Ticket is the reason millions of people still want a career in investment banking, Rebecca.

  54. catarinaalexon Says:

    Good points, Suzanne.

  55. jacquiegum Says:

    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
    My recent post Where’s The Justice… Confessions of a Corporate Slut

  56. catarinaalexon Says:

    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.

  57. jacquiegum Says:

    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 :)
    My recent post Where’s The Justice… Confessions of a Corporate Slut

  58. catarinaalexon Says:

    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?

  59. jacquiegum Says:

    I do. But they do not deal in derivatives for my account due to my age and the risk factors.
    My recent post Where’s The Justice… Confessions of a Corporate Slut

  60. Meredith Says:

    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!
    My recent post Click and Chat

  61. catarinaalexon Says:

    Have taken note of that, Meredith. However, quite a few traders on Wall Street love what they are doing and really feel they have a satisfying job.

  62. JeriWB Says:

    The corporate world is decidedly not for me. I'm getting to like freelancing more and more all the time, and have never had any interest in "big business." Though I do find the intrigue compelling from a writer's point of view.
    My recent post #WriteTip: 10 Tips for Writing Poetic Prose

  63. Susanna Says:

    I'm out of step with this world. I have to say that work like this holds no appeal at all for me (though money is always welcome). Chacun a son gout
    My recent post Pesto, Prawns and Linguine

  64. catarinaalexon Says:

    Few are cut out for working for Goldman, Susanna.

  65. catarinaalexon Says:

    Yes, the intrigue there is interesting, Jeri. Cut throat, describes it very well.

  66. Welli Says:

    I am all for Goldman Sachs and Investment Banking as I just love the vibrance and cut throat business deals that get sealed. Never a dull moment…if you do survive!!!!!
    My recent post Garbage truck encounters

  67. catarinaalexon Says:

    Did you ever try to get hired by Goldman, Welli? If so, what happened?

  68. dbuckmir Says:

    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.

  69. catarinaalexon Says:

    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.

  70. Meredith Says:

    Yes, and I'm so glad! It takes all kinds of people, and jobs, to make the world go 'round. Lots of people would probably hate doing my job too! :)
    My recent post Click and Chat

  71. Valerie Remy-Milora Says:

    Meredith I could not agree more! Too many people define themselves by their tangible wealth but life is so much richer than that!
    My recent post What’s An April Fish? The Story Behind April Fools

  72. valerieremymilora Says:

    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!

  73. catarinaalexon Says:

    Yes, Meredith, thank God we are all different. Imagine how boring it would be otherwise. Not to mention that society would not work.

  74. catarinaalexon Says:

    Also agree with Meredith. The interesting thing however, is that class has been replaced by wealth. The new upper class is the wealthy, regardless of how their wealth was accumulated . The drawback with that is that in the class system the upper class took care of the lower classes. The new wealthy don't do that.

  75. catarinaalexon Says:

    Good points that I agree with, Valerie.

  76. patweber Says:

    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.
    My recent post Managing as an Introvert and a Highly Sensitive Person: Bright Lights and Clothing Tags

  77. catarinaalexon Says:

    Not surprised Goldman is not for you, Pat.

  78. William Butler Says:

    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,
    Bill
    My recent post Helen Keller: A Rich Legacy of Wise Words

  79. catarinaalexon Says:

    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.

  80. Mirsad Kasum Says:

    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.

  81. catarinaalexon Says:

    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.

  82. Mirsad Kasum Says:

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

  83. catarinaalexon Says:

    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:-)

  84. cheryltherrien Says:

    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.
    My recent post #Garden Site 2014

  85. catarinaalexon Says:

    Understand that fully, Cheryl. Even for corporate executives working on Wall Street is something that doesn't suit everyone.

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