Author Topic: Can you help me with my Goldman Sachs interview?  (Read 6600 times)

connor

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Can you help me with my Goldman Sachs interview?
« on: January 18, 2016, 01:47:01 PM »
I have an interview with Goldman Sachs for an internship coming up, and I've heard that they expect you to know quite in-depth about the big financial current affairs going on at the moment, as well as how to value a company and some other technicals which I have no idea about.

Seeing as all the 'what we think will happen in 2016' documents are near useless after the start we've had to 2016, I was wondering if anyone could give me a good fairly in-depth overview of the big financial current affairs? Everything I've searched builds upon previous knowledge and I need it from basics.. I figured it'll be China, Oil, Currency; but I don't have a good understanding of whats going on with those topics from fundamentals upwards. Also overviews of any other big talking points would be great.

Also how to value of a company would be good if anyone knows that, along with what other technicals you guys think they might ask.

Thanks in advance!

Easye418

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Re: Can you help me with my Goldman Sachs interview?
« Reply #1 on: January 18, 2016, 03:30:13 PM »
I have an interview with Goldman Sachs for an internship coming up, and I've heard that they expect you to know quite in-depth about the big financial current affairs going on at the moment, as well as how to value a company and some other technicals which I have no idea about.

Seeing as all the 'what we think will happen in 2016' documents are near useless after the start we've had to 2016, I was wondering if anyone could give me a good fairly in-depth overview of the big financial current affairs? Everything I've searched builds upon previous knowledge and I need it from basics.. I figured it'll be China, Oil, Currency; but I don't have a good understanding of whats going on with those topics from fundamentals upwards. Also overviews of any other big talking points would be great.

Also how to value of a company would be good if anyone knows that, along with what other technicals you guys think they might ask.

Thanks in advance!

Enjoy the information you see fit.

This info may help you:

Its been a while since B school but I assume they will ask you at the very minimum the basic technical valuation terms: cash flow, solvency, liquidity, profitability measures, leverage, asset turnover, dividend yield, how you value a company, earnings questions, probably the quick ratios, P/E ratios, Assets to Debt, the greeks, 3 sheets: Bal, Inc, and CF. 

From what I read about these NY internships, these are pretty intense and they will chew up and spit out poor candidates.  I assume it is a highly competitive internship and it is for a reason.  You need to be prepare to bring an actual opinion about a topic and not some pre-canned bullshit you read on Bloomberg or CNN. 

Curious informaiton to know:
If I may ask, do you go to an Ivy league school?    No offense, but I am shocked how you got the interview with GS without knowing "how to value a company and some other technicals which I have no idea about".  I just assumed a world class Financial firm such as GS would have a stronger phone screen. 

Personal Experience/Rant:
My first job out of college was with a F500 company (really like a F100),  I got lucky as shit that the recruiter had a child who attended my mid tier b school so she was biased for me and gave me the job.  My colleague got recruited for the position because he went to Notre Dame.  My first question I asked him "Oh wow, you went to Notre Dame, I heard they have a really good business school".  He goes "oh, I don't have a business degree, I have my degree in Theology".

From there on out, I knew the system is a complete bullshit scam and is run by the good ol boys club because of what school you can afford to go to.  Horseshit philosophy.  I really try to believe that the Ivy League schools really only do select the best and the brightest that this country has to offer, not just daddy's pocketbook or because Johnny can catch a football.

But, good luck.  I hope you get the job because of this insight and you get paid a shit ton of cash for working 100 hours a week.  AND out of the generousity of your heart, you pay me a handsome sum of money for this conversation :-P
« Last Edit: January 18, 2016, 03:45:11 PM by Easye418 »

connor

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Re: Can you help me with my Goldman Sachs interview?
« Reply #2 on: January 18, 2016, 04:05:39 PM »

If I may ask, do you go to an Ivy league school?    No offense, but I am shocked how you got the interview with GS without knowing "how to value a company and some other technicals which I have no idea about".  I just assumed a world class Financial firm such as GS would have a stronger phone screen. 


This made me feel much better about the interview

Easye418

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Re: Can you help me with my Goldman Sachs interview?
« Reply #3 on: January 18, 2016, 04:33:50 PM »

If I may ask, do you go to an Ivy league school?    No offense, but I am shocked how you got the interview with GS without knowing "how to value a company and some other technicals which I have no idea about".  I just assumed a world class Financial firm such as GS would have a stronger phone screen. 


This made me feel much better about the interview

The point wasn't to make you feel better. I didn't post to coddle someone who doesn't know what they got themselves into.

Look, I'm sure you're a young guy and from what I can tell, you don't know a lick about Finance yet you applied for an internship with one of the top investment banks in the world.

Would you expect anything else from someone?

If all you take out of my post is that you think some prick just told you that it's a highly competitive company and you are about to enter the shark tank and you take the time to start preparing as best as you can. Then my advice was worth it.

By the way, find yourself a nice charcoal suit with a portfolio.

I wish someone told me to get my head out of my ass when I was 16. It turned out alright so far.. Sorry if i come off harsh. I just want you to over prepare and crush it.  Im not trying to be an e-bully. Best of luck.
« Last Edit: January 18, 2016, 04:53:26 PM by Easye418 »

Think

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Re: Can you help me with my Goldman Sachs interview?
« Reply #4 on: January 18, 2016, 05:31:18 PM »
You don't have to go to an Ivy League school.  I also interviewed at gs back in the day.  Op - you need to check out a book on investment banking interviews.  When I was interviewing the go to was the vault guide.

For the record, finance isn't rocket science.  It's really not that challenging.  At least I never found it so.  There's no reason why someone who works hard and has a decent IQ can't succeed.  The one caveat is I think it helps if you don't require a lot of sleep.

Are you interviewing for an analyst internship or back office?  There's a huge difference.  If it's back office I can't imagine they would ask you dcf etc. 

When I interviewed I was given a math exam and also random questions like how many marbles are in a jar.  Granted this was quite some time ago. 

MsPeacock

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Re: Can you help me with my Goldman Sachs interview?
« Reply #5 on: January 18, 2016, 05:33:28 PM »
I don't know financial stuff at all. I do know interviewing interns and do it a lot. If you need more in depth as to what the major issues are and details on them you need to start doing some major cramming for this interview. I suggest you approach it like a final exam for which you have not studied. Get online at appropriate websites and start essentially writing a term paper for 4 or 5 major issues once you figure out what they might be. You need to find out quickly about those technicals you don't know anything about. Easye told you it is extremely competitive. That means likely there are people with higher GPAs and better schools than you, so you need to be totally on point, dressed appropriately, and a glowing example of the hard working industrious intelligent intern that they would like to have around.

Honest to god, I have been hiring interns for 20 years. The millennials are going to kill me.  Don't complain if someone tells you that you aren't up to snuff. That means you need to work harder, not complain about the advice you've been given.

mxt0133

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Re: Can you help me with my Goldman Sachs interview?
« Reply #6 on: January 18, 2016, 05:43:00 PM »
I can tell you that they are going to ask questions not because they are interested in the correct answer, well partially, they will mostly be interested in how you handle pressure.  The questions are just going to get harder and harder.  So assuming you get the basics correct, then they will just go deeper into each question until you get stumped.  You have to be mentally prepared to handle high pressure situations.  If you freeze up and can't talk your way out of it the interview will be over.

So prepare as much as you can, speak up for yourself, do not be timid, and if a questions stumps you feel free to ask for clarifications or probe so that the interviewer reveals what kind of answer they are looking for.

okits

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Re: Can you help me with my Goldman Sachs interview?
« Reply #7 on: January 18, 2016, 06:04:06 PM »
The advice you receive may be a bit more tailored if you can provide some details on what your interest is in this internship.  What brings you and GS together?

humbleMouse

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Re: Can you help me with my Goldman Sachs interview?
« Reply #8 on: January 18, 2016, 06:40:52 PM »
I have an interview with Goldman Sachs for an internship coming up, and I've heard that they expect you to know quite in-depth about the big financial current affairs going on at the moment, as well as how to value a company and some other technicals which I have no idea about.

Seeing as all the 'what we think will happen in 2016' documents are near useless after the start we've had to 2016, I was wondering if anyone could give me a good fairly in-depth overview of the big financial current affairs? Everything I've searched builds upon previous knowledge and I need it from basics.. I figured it'll be China, Oil, Currency; but I don't have a good understanding of whats going on with those topics from fundamentals upwards. Also overviews of any other big talking points would be great.

Also how to value of a company would be good if anyone knows that, along with what other technicals you guys think they might ask.

Thanks in advance!


If you are asking these questions - good luck in the interview!  You don't have enough time to fake your way through explaining your current stance on the market.  Do you even have a trading history/track record?  You don't know how to value companies?  Do you know what a p/e ratio is?  Have you been tracking the main indexes for months on end every day?  Do you stay up until 3am every night to check currency markets across the globe? 

If I were you I would ask myself what I want out of GS.  It seems to me you don't understand their core business at all if you are asking questions like this on a forum like this.


connor

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Re: Can you help me with my Goldman Sachs interview?
« Reply #9 on: January 19, 2016, 03:04:24 AM »
I should clarify, I'm a freshman and from the UK. This is the stage before the equivalent to US internships. It's a two week insight to the bank.

Think

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Re: Can you help me with my Goldman Sachs interview?
« Reply #10 on: January 19, 2016, 03:44:31 AM »
I should clarify, I'm a freshman and from the UK. This is the stage before the equivalent to US internships. It's a two week insight to the bank.

Check out the vault guides.  There will be interviewing tips and possible questions.  Good luck

former player

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Re: Can you help me with my Goldman Sachs interview?
« Reply #11 on: January 19, 2016, 04:17:39 AM »
My suggestion would be not to try to pretend knowledge you don't have to people who are experts, and in any case the technicalities of the job can best be taught on the job.   So at this stage your interviewers are not looking for knowledge, they are looking for interest, ability and teachability.  Say what you know and how you know it, admit what you don't.  Be prepared to talk sensibly and interestingly about your university subject, possibly relating it, or the things you learn from it, or the things you are interested in, to the work at GS.  Read more widely than just finance (eg be familiar with the latest two issues of the Economist).  If you can make connections between different concepts and bits of knowledge it will show that you will be able to bring something new to the job. 

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pbkmaine

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Re: Can you help me with my Goldman Sachs interview?
« Reply #13 on: January 19, 2016, 05:15:33 AM »
Also, start reading The Financial Times and The Wall Street Journal, if you don't already.

pbkmaine

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Re: Can you help me with my Goldman Sachs interview?
« Reply #14 on: January 19, 2016, 05:22:27 AM »

pbkmaine

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Re: Can you help me with my Goldman Sachs interview?
« Reply #15 on: January 19, 2016, 05:26:11 AM »
http://www.goldmansachs.com/investor-relations/financials/

And if you have any questions about any of these, ask.

cerat0n1a

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Re: Can you help me with my Goldman Sachs interview?
« Reply #16 on: January 19, 2016, 06:05:43 AM »
I'd suggest having a look on Glassdoor - my experience as an interviewer of hundreds of interns and graduates in recent years is that the exact interview questions often end up being posted on there :-) For a 2 week internship for a first year undergraduare, I wouldn't think they'll be investing a huge amount of effort in asking you tough questions, just making sure that you've done a bit of research on the company,

There are plenty of places you can learn about company valuation, which is obviously an inexact science - just google for articles on P/E Ratio, discounted cash flow valuation. Shouldn't take you too long to be convincing enough for an interview.

I think reading the BBC website business section and looking for the articles which explain what's happening in commodities/oil and China would also be a good idea. 

good luck

arebelspy

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Re: Can you help me with my Goldman Sachs interview?
« Reply #17 on: January 21, 2016, 10:44:35 AM »
I should clarify, I'm a freshman and from the UK. This is the stage before the equivalent to US internships. It's a two week insight to the bank.

That's good info. That's quite different than a graduate of somewhere looking for an internship that turns into a job.

I'm guessing they'll have different expectations of this position, so I'd be honest and let them know your knowledge is limited, but you are eager to learn and soak up as much as possible and willing to work hard.

Read some basics now, but go with that, and hope that's enough.  Good luck!  :)
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