Just got a paid internship at Goldman Sachs!

[rhythmic]

I am still shaking, got a call this afternoon from their HR representative. 12 month paid internship (youth development stream) with the opportunity for a full-time placement as a BI after the term. :cheers:

Sorry guys had to share, too excited right now. In total shock and disbelief.
THANK YOU STERN, best damn decision I ever made to enroll into their graduate's program!

[Balla_Status]

My taxes are paying your salary?

[DCL]

My taxes are paying your salary?

:lol

[IcanzIIravor]

[QUOTE=rhythmic

[heyhey]

congrats

but what's BI? u doing investment banking or some rotational program?

get ready for brutal hours, it's tougher than u might think

[IGOTGAME]

[QUOTE=rhythmic

[rhythmic]

congrats

but what's BI? u doing investment banking or some rotational program?

Bank Investor.

[rhythmic]

congrats

but what's BI? u doing investment banking or some rotational program?

get ready for brutal hours, it's tougher than u might think

Yes, for junior positions it is brutal but it gets easier over time as you get senior manager positions. I am interested in international finance though, so I get to travel a lot and see the world. M&E sector will allow me to work from home. This internship won't be brutal because our group of prospects will have mentors who will guide us through the process. We will write tests (academic and practical) etc.

I really enjoy finance and have done very well, so I wouldn't even consider this a job. This and soccer is my passion in life, I absolutely love it.

and thanks guys for the congrats!

[DCL]

well, at least goldman sachs on the resume looks better than burger king if you finally find your soul and go do something else. :lol

[sixerfan82]

congrats

[heyhey]

[QUOTE=rhythmic

[rhythmic]

Congrats. Remember me when you are making millions through legal, but unsafe practices and cause a financial melt down. Hook me up with some stock before hand so I can make a few million too and sell before the crash.

Seriously, though, congrats. :cheers:

Complex and illegal hedging instruments is what caused the major financial melt down; that's why Arthur Anderson went bankrupt. Finance for most part actually grows the economy, the perception that it somehow hurts our economy is a load of crap.

The Oxley Act revamped the guidelines though, so it's a lot safer now.

[BEAST Griffin]

So you're becoming a bankster parasite. Congratulations.

[BEAST Griffin]

[QUOTE=rhythmic

[Jailblazers7]

Congrats and good luck with the great opportunity.

I don't think I'd have the personality or personal interest in finance to cut it at a place like Goldman but if finance is your passion you should do fine.

[The Big Skinny]

Where did you go to school if I may ask?

[BuGzBuNNy]

Congrats. What's your grades/gpa like?

[Nanners]

False. Production grows the economy. Finance is usually all about privileged something for nothing freeloading.


i wonder if goldman makes their interns sell their soul before they are offered a permanent job, or does that come after?

[28renyoy]

Unless you go to Dartmouth and or are a member of Sigma Alpha Epsilon fraternity, I find this hard to believe.

But regardless, congrats on a 70k/year intern job

[Just2McFly]

How hard is it congratulate someone without being backhanded?

To:OP, I'm proud of you son.

[28renyoy]

How hard is it congratulate someone without being backhanded?

To:OP, I'm proud of you son.

How do I put it lightly...an african american with a child that happens to be a Lakers fan while growing up in New York isn't exactly the typical intern that the top investment firm in the world goes after

[BEAST Griffin]

i wonder if goldman makes their interns sell their soul before they are offered a permanent job, or does that come after?

Sometimes the only way to secure one's future is to stop being a productive slave and instead with great effort manage to participate in privileged rent seeking. To a degree it's self preservation for some people, because you're either a privileged rent seeker or a productive slave in our economy.

[The Big Skinny]

Unless you go to Dartmouth and or are a member of Sigma Alpha Epsilon fraternity, I find this hard to believe.

But regardless, congrats on a 70k/year intern job

Pretty Idiotic statement. I know like 3 dudes who currently work for goldman and didn't go to very prestigious universities or are apart of well know fraternities.

[Just2McFly]

How do I put it lightly...an african american with a child that happens to be a Lakers fan while growing up in New York isn't exactly the typical intern that the top investment firm in the world goes after
I'm gonna pretend that this argument surprises me...





Wait.....


























Please Hold


































:biggums:

[heyhey]

Pretty Idiotic statement. I know like 3 dudes who currently work for goldman and didn't go to very prestigious universities or are apart of well know fraternities.

if they work in front office positions then they must have busted their butt, it's hard to get a good goldman gig without coming from a prestigious school. not all jobs at goldman are actually worth applying to

[rhythmic]

How do I put it lightly...an african american with a child that happens to be a Lakers fan while growing up in New York isn't exactly the typical intern that the top investment firm in the world goes after

You have to be the biggest idiot on this forum, and a racist begot.

1) I am not African American, like it even matters.
2) I do have a child and I am married.
3) I worked since I was 11 years old. I am a motivated individual and aspired to becoming a CFA. Besides soccer, this is my passion.
4) I am was born and raised in AH, I moved to New York to get my master's degree from NYU. I took my undergrad in California, for your information.

Goldman's invest in people with character, ambition and passion. Clearly idiots like you would never fit in, so I am not surprised you would take a shot at me.

To the person who was wondering what my qualifications are. Academically I did very well in both my undergrad and master's, especially in finance. I did a lot of volunteer work, was a tutor, worked for a bank during my co-op term, member of a finance club, BGS inductee. Graduated from both programs with first-class standing as well.

I think what got me the gig was my well-rounded resume though. The fact that I had extra-curriculum activities, had work experience and did well at school (plus having a master's degree)...

Like I said, I am still in shock and consider myself very fortunate.
Hopeful I can impress and get a full-time gig.

[IcanzIIravor]

[QUOTE=rhythmic

[BuGzBuNNy]

How do I put it lightly...an african american with a child that happens to be a Lakers fan while growing up in New York isn't exactly the typical intern that the top investment firm in the world goes after
this dude here

[DFish]

This guy's full of shit. "Bank investor?" And there's no area of finance called M&E. He probably meant to lie about mergers and acquisitions (M&A). Also, I'm fairly certain GS doesn't recruit interns in November. Should've waited until spring to make this thread.

I did lol at this part though.

[QUOTE=rhythmic

[LamarOdom]

[QUOTE=rhythmic

[DCL]

this thread is full of insecurities

[DFish]

[QUOTE=rhythmic

[Bucket_Nakedz]

will you have time to play the latest video games?

[rhythmic]

This guy's full of shit. "Bank investor?" And there's no area of finance called M&E. He probably meant to lie about mergers and acquisitions (M&A). Also, I'm fairly certain GS doesn't recruit interns in November. Should've waited until spring to make this thread.

I did lol at this part though.


Yeah, you've chosen the perfect industry if you intend to work from home. You get to wake up around noon as well.

But hey.. in the off-chance you're not lying and just clueless, you should send me an IB (stands for Instant Bloomberg, fyi) once you get all set up.

:roll: At this guy. So you were trying to show me up because you know of Enron? Here's a clue for you, why did Enron & AA collapse? Because of an auditing/accounting fraud? What are you a 1st semester accounting student and think you will somehow "expose" me because I was too generic with my answer.

The reason for the collapse is because AA either colluded or did not proceed with due diligence regarding hedge funds that Enron were literally creating falsely through their fictitious SPE's. :rolleyes: That among other things were the main reasons Enron were able to inflate their pension funds among many other fictitious accounts on their books.

And I did mean mergers and acquisitions, that's your deal breaker? You're basically a dipshit and your reputation points tell me everything I need to know. You do work on your prospectuses for IPO's from home most of the time if you do M&A's. Maybe you're a little insecure and have a shitty job because you're an idiot who didn't accomplish much at school, but don't take your frustrations on me.

IB? Not there yet bud. I am an INTERN and have little experience in trading. I do get the Bloomberg's Business Magz every month through BGS though.

FYI, I applied for the internship in September... because they were hiring, but if you weren't such an insecure dipshit and wanted to talk to me like a normal person, and ask me questions; I would have been more then happy to inform you of my hiring process with GS.

[rhythmic]

No, that's not what happened with Arthur Anderson. :oldlol: You're probably too young to remember the Enron scandal, but that was good old audit/accounting fraud. I'm curious to hear which hedging instruments you think are illegal though.

:oldlol: This kid is so clueless. I'm guessing by how confidant you seem, you do this for a living? What blows my minds is that you never heard of a sub-prime mortgage meltdown and how complex derivatives were used to hide fraud.

Hedge funds mainly avoided the consequences of the financial meltdown they helped create, racking up gains through the '00's that far exceeded the rest of the stock market. AA and Enron were a prime example of a corporation using SPE's and derivatives to overrate billion of dollars in assets and revenues over a span of a decade.

Here jackass:

Before its fall, Enron was lauded for its sophisticated financial risk management tools.[48] Risk management was crucial to Enron not only because of its regulatory environment, but also because of its business plan. Enron established long-term fixed commitments which needed to be hedged to prepare for the inevitable fluctuation of future energy prices.[49] Enron's bankruptcy downfall was attributed to its reckless use of derivatives and special purpose entities. By hedging its risks with special purpose entities which it owned, Enron retained the risks associated with the transactions. This setup had Enron implementing hedges with itself.[50]

Enron's aggressive accounting practices were not hidden from the board of directors, as later learned by a Senate subcommittee. The board was informed on the rationale for using the Whitewing, LJM, and Raptor transactions, and after approving them, received status updates on the entities' operations. Although not all of Enron's widespread improper accounting practices were revealed to the board, the practices were dependent on board decisions.[51] Even though Enron extensively relied on derivatives for its business, the company's Finance Committee and board did not have comprehensive backgrounds in derivatives to grasp what they were being told. The Senate subcommittee argued that had there been a detailed understanding of how the derivatives were organized, the board would have prevented their use.[52]

Basically management were using derivatives to commit fraud and were taking advantage of an uneducated board of directors at Enron. :rolleyes:

In conclusion; not just Enron but there were countless other incidents of investors creating complex derivatives to commit fraud. Read up on the Oxley Act and why it was revamped with strict guidelines about derivatives and hedging.

AA went bankrupt because of Enron. They were either not sophisticated enough to see that Enron was managing risk between their special purpose entities and thus falsifying their losses; or were basically colluding to commit fraud. The way auditing firms operate though, I believe it was collusion. The legal liabilities incurred due to Enron, put AA out of business.

The reason I believe it was collusion was because of the materiality threshold used by AA during the engagement planning stages and there was too much continuity with their periodic fiscal audits. They never proceeded with due diligence and turned a blind eye towards their internal transactions.

[Bucket_Nakedz]

don't waste your time explaining to these aliasses. the fact that they have to log in on multiple accounts to troll shows how much it has had an effect.

my advice is to please remain human. i know the corporate world is cut throat and moving up has its perks. but stay humble, and don't lose your soul in the process. best of luck...

[IGOTGAME]

if they work in front office positions then they must have busted their butt, it's hard to get a good goldman gig without coming from a prestigious school. not all jobs at goldman are actually worth applying to
I also know people at Goldman. One girl graduated near too of Rutgers undergrad and another dude was median at the law school. Both good jobs. Both from non elite school.

[brantonli]

Firstly, congrats on getting Goldman! I'm at the London School of Economics, so everybody would kill to have your position lol. Are you starting as an Associate? I still haven't heard back from my application for summer intern at GIR

[ripthekik]

I applied this year for the analyst entry position.. doubt i'll get it though.. grats :cheers:

[Balla_Status]

Why did you put, "paid" in the title? Is it common for internships to be unpaid? All of mine were paid $15+ an hour.

[rezznor]

don't waste your time explaining to these aliasses. the fact that they have to log in on multiple accounts to troll shows how much it has had an effect.

my advice is to please remain human. i know the corporate world is cut throat and moving up has its perks. but stay humble, and don't lose your soul in the process. best of luck...
listen to this guy. congrats! and please don't turn into a douche.

[Jailblazers7]

Why did you put, "paid" in the title? Is it common for internships to be unpaid? All of mine were paid $15+ an hour.

Yeah, I think the only unpaid internships I've really run into were with govt agencies and stuff. My one buddy did have an unpaid summer internship at Credit Suisse tho so it does happen.

[heyhey]

I also know people at Goldman. One girl graduated near too of Rutgers undergrad and another dude was median at the law school. Both good jobs. Both from non elite school.

they are probably both hard workers and good at networking. I'm not saying people from non elite schools don't make it to goldman. I'm saying you have to be quite exceptional or well connected to make it to the investment banking division, trading group, or their asset management practice, if you don't have a brand name school on ur resume. and I applaud those that do because I know how difficult the process is.

and rhythmic, your unusual acronyms and terminology did throw me off but u seem to know your shit. i don't know what they told u during the interviews but if u want that full time offer in m&a, facetime matters. u will probably be working at home too but that will be in addition to 10-12 hour days u are putting in at the office.

[Lebowsky]

Why did you put, "paid" in the title? Is it common for internships to be unpaid? All of mine were paid $15+ an hour.
I wouldn't say it's common practise, but it's also not uncommon in finance. My first intership in the field was initially unpaid (which I still gladly accepted), but they ended up paying me performance bonuses on a monthly basis out of nowhere.

[DFish]

Tell me more about this "bank investor" position too.

[kuniva_dAMiGhTy]

FWIW, FT recruiting is Fall and SA recruiting is Winter so congrats.


Tell me more about this "bank investor" position too.

Grab a clue...and life.

[Balla_Status]

Yeah, I think the only unpaid internships I've really run into were with govt agencies and stuff. My one buddy did have an unpaid summer internship at Credit Suisse tho so it does happen.

Man that's some bullshit. I bet they expect you to travel to their building (where your college is not) and have to pay for apartment and all that as well.

That's slave labor basically. I understand they want you to "prove" that you're good enough to be paid (i.e. get a full time job) but you can't say that during that internship, you're not contributing at least a little bit to the success of the company. Probably some short term employee BS that gets around the law.

[solar.hands]

This guy's full of shit. "Bank investor?" And there's no area of finance called M&E. He probably meant to lie about mergers and acquisitions (M&A). Also, I'm fairly certain GS doesn't recruit interns in November. Should've waited until spring to make this thread.

I did lol at this part though.


Yeah, you've chosen the perfect industry if you intend to work from home. You get to wake up around noon as well.

But hey.. in the off-chance you're not lying and just clueless, you should send me an IB (stands for Instant Bloomberg, fyi) once you get all set up.
oh the irony.

[DCL]

bank investor is the dyslexic version of investment banker. :lol

[rhythmic]

bank investor is the dyslexic version of investment banker. :lol

I'm still confused as to what the other poster is trying to tell me.
Bank Investor is the "JOB TITLE" I applied for, investment banking is a specific area within finance.

Am I missing something here?

[rhythmic]

Man that's some bullshit. I bet they expect you to travel to their building (where your college is not) and have to pay for apartment and all that as well.

That's slave labor basically. I understand they want you to "prove" that you're good enough to be paid (i.e. get a full time job) but you can't say that during that internship, you're not contributing at least a little bit to the success of the company. Probably some short term employee BS that gets around the law.

From my experience, I have never seen an unpaid internship last longer then 3 months. Most times it's a few weeks, and yes companies expect you to provide for yourself. Those type of apprenticeships are usually offered from prestigious companies though, where any potential candidate will always be willing to sacrifice no pay for a lifetime career opportunity.

Unpaid apprenticeships are usually set up for really lucrative positions within multi-billion dollars corporations. The reason I said "paid" is because when I applied for the position, it didn't state the salary. It only said a contractual terms for potential prospects finishing an undergrad or a graduate program in business. The HR team didn't even tell me about the pay during the interview, and when they asked about what I expect to get paid; I gave them the politically correct answer of "I am just looking to gain valuable work experience with your prestigious firm." And truthfully, I was ready to work for them for nothing, think about the opportunities I would have for the future with GS on my resume?

[Andrei89]

Congratz dude. Make the best of it.


P.S

Dfish ---> claimed he saw Megan Fox sleep at a party.Even posted a picture which was stolen from the internet.

Joyner28 --- > apparently drew Paris for a girl and has a Ferrari on which he photoshopped his name.


you got to understand their status is still higher than yours so they are entitled to call you a liar:lol :lol :lol

[FatComputerNerd]

Does this mean you're in the Illuminati?

:bowdown:

[ihoopallday]

Congrats :cheers: I like seeing people chasing their goals succeed.

[IGOTGAME]

May be joining you here. Got an interview tomorrow at Goldman Tower in Jersey City.

[Snoop_Cat]

Unless you go to Dartmouth and or are a member of Sigma Alpha Epsilon fraternity, I find this hard to believe.

But regardless, congrats on a 70k/year intern job

You're an imbecile.

On a side note to the comment about unpaid internships - they are technically illegal but as you can tell, it's not exactly enforced.

[IGOTGAME]

You're an imbecile.

On a side note to the comment about unpaid internships - they are technically illegal but as you can tell, it's not exactly enforced.
Reread the thread. Joyner is a crazy dude.

[Balla_Status]

Another ISHer supported by my taxes?

[Nanners]

Another ISHer supported by my taxes?


sure, you are supporting ishers with the taxes on your paycheck. of course, your paycheck is provided by a company in an industry that receives billions of dollars every year in taxpayer funded subsidies.

guess that makes you another isher supported by my taxes. yeah you heard me, oil and gas welfare queen.

[Balla_Status]

sure, you are supporting ishers with the taxes on your paycheck. of course, your paycheck is provided by a company in an industry that receives billions of dollars every year in taxpayer funded subsidies.

guess that makes you another isher supported by my taxes. yeah you heard me, oil and gas welfare queen.

Didn't I destroy you in this argument already? O&G companies don't receive tax subsidies.

[IGOTGAME]

Another ISHer supported by my taxes?
Isn't your industry heavily subsidized bro.

[Balla_Status]

Isn't your industry heavily subsidized bro.

Nope. O&G industry has zero subsidies. But if you want to go by that definition...everyone is subsidized.

Either way a subsidy is nowhere near as close as a goddamn bailout.

[Balla_Status]

Isn't your industry heavily subsidized bro.

I'm just giving you shit btw...you're just a guy near the bottom (like me) just trying to make a career/living out of something you enjoy. Really don't make huge company decisions but just tries to perform your job to the best of your ability.

[IGOTGAME]

I'm just giving you shit btw...you're just a guy near the bottom (like me) just trying to make a career/living out of something you enjoy. Really don't make huge company decisions but just tries to perform your job to the best of your ability.
:cheers:

I don't really give a **** about the bailout ish. I'm just searching for a chill job with good upside. Never thought I'd get a shot at Goldman doing exactly what I wanna do.

Honestly, I'd rather have a stem degree. You got me there.

[Nanners]

Didn't I destroy you in this argument already? O&G companies don't receive tax subsidies.

the idea that you destroyed me in an argument is hilarious. what actually happened was you pulled a primetime and argued semantics about the definition of a "subsidy".

you can call it a subsidy, tax break, welfare....whatever. bottom line is that billions of dollars in handouts flow from the US govt to oil and gas companies every year.

[Balla_Status]

the idea that you destroyed me in an argument is hilarious. what actually happened was you pulled a primetime and argued semantics about the definition of a "subsidy".

you can call it a subsidy, tax break, welfare....whatever. bottom line is that billions of dollars in handouts flow from the US govt to oil and gas companies every year.

Then everyone in the USA that receives a deduction is given a handout and should not receive one.

And for something to flow from the US govt to someone, it must be in the US govt hands before then. In this case, it is not.

[Nanners]

Then everyone in the USA that receives a deduction is given a handout and should not receive one.

:biggums: