Would you like a Golden Ticket at Goldman Sachs?

Are you still interested in making a fortune in investment banking? Preferably at Goldman? Hereโ€™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 whatโ€™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? ย 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 – Picture: Fortune Live Mediaย 

102 thoughts on “Would you like a Golden Ticket at Goldman Sachs?

  1. I will admit I am not a financially driven person. However, working for Goldman Sachs would be a good feather in someone's resume. I guess it depends on your career plans. Some jobs you must pass, no matter how impressive, if they do not align with your long term goals.

  2. I do not have a banking background so would not apply for a job at Goldman Sachs. However if I did, I would not mind working for a prestigious company. Why not?

  3. Loved this video Caterina – My first job was at one of our banks and I loved the work. While it wasn't anything to do with investment banking, I know that I would have enjoyed learning that part too. I know that if I had been given the opportunity to become a partner at Goldman Sachs I would have felt I had achieved the ultimate goal (before all the scandals). As was mentioned to become a partner you are chosen to be one of the 'best' by the 'best'. It would not have had anything to do with the money or even the status – the challenge of reaching the top would have been reward enougn.

  4. Another great post.
    I am not sure I would want to work for Goldman Sachs, I am for capitalism, but then some people and companies go to far. Simple profit to them is not good enough, they try to get all the profits and do not care how they get them.

  5. I would certainly consider this, if I had the relevant banking knowledge and experience. Excellent salary I am sure with lots of perks!

    I have always worked in the public sector and have wondered what it must be like in the corporate world.

    1. Yes, they earn an absolute fortune. One of my ex:es was a top guy on Wall Street and in the City. But you need to be able to predict what will happen to the markets in order to succeed. If not, what you could do is now done by a robot.

    1. Same here, Jeannette. I'm not financial and neither do I have an interest in investment banking. One of my ex:es was a top guy on Wall Street so I know how it works. Goldman would be a good idea for someone interested in the sector.

  6. Interesting topic.I don't think it is as appealing as it once was. I wonder if the people who work there still tell people where they work or still think it is appeal. I do not know anyone who works for them. Thanks for sharing.

  7. Banking. For those with a highly materialistic drive and presumably a fairly low moral threshold.

  8. 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

  9. 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.

    1. 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.

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

        1. 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:-)

  10. 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,
    My recent post Helen Keller: A Rich Legacy of Wise Words

    1. 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.

  11. 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

  12. 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!

  13. 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.

    1. 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.

  14. 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

      1. 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! ๐Ÿ™‚
        My recent post Click and Chat

      1. 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.

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

  16. 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. ๐Ÿ™‚
    My recent post Winery Marketing, A New Phase: #Wine

  17. 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.

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

      1. 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

        1. 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.

          1. 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 ๐Ÿ™‚
            My recent post Where’s The Justice… Confessions of a Corporate Slut

          2. 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?

  19. 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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  20. 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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  21. 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.

    1. 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?:-)

  22. 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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    1. 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.

  23. 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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  24. 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 ๐Ÿ™
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  25. 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:-)

  26. 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?

  27. 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

    1. 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.:-)

  28. 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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  29. 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! ๐Ÿ™‚

    My recent post Blogging Tips 101 Contest

  30. 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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