Goldman Sachs is not part of the "Big 4" accounting firms (Deloitte, PwC, EY, KPMG), but rather a premier,{" "Bulge Bracket investment bank. Often, when discussing the most prestigious, top-tier investment banks alongside Goldman Sachs, the group includes Morgan Stanley, JPMorgan Chase, and either Bank of America or Citi.
No, Goldman Sachs is not a Big Four firm; the "Big Four" refers to the four largest accounting and professional services networks (Deloitte, PwC, EY, and KPMG), while Goldman Sachs is a leading bulge bracket investment bank, part of a separate group of elite financial institutions alongside others like JPMorgan, Morgan Stanley, and Bank of America.
If you want to become a VP in Goldman Sachs' investment banking division, you'll typically have to climb the hierarchy and progress through the analyst and associate levels before you make it. If you're an engineer or a quant, it might be a bit quicker.
Which university does Goldman Sachs hire from the most?
A: Goldman Sachs recruits primarily from leading investment banking feeder schools, including Harvard, Stanford, and the University of Pennsylvania. These top universities for investment banking consistently produce graduates with strong analytical and finance backgrounds.
As William D Cohan stated in his book Money and Power: How Goldman Sachs Came to Rule the World: “Goldman Sachs has been both envied and feared for having the best talent, the best clients and the best political connections, and for its ability to alchemize them into extreme profitability and market prowess.”
While ZipRecruiter is seeing annual salaries as high as $138,500 and as low as $54,500, the majority of Goldman Sachs Bank salaries currently range between $81,000 (25th percentile) to $109,500 (75th percentile) with top earners (90th percentile) making $128,000 annually across the United States.
If you want to get a job at Goldman Sachs, good luck. Unfortunately, so do 315,000 other people – so if you're going to go through the gauntlet of applying to work there, you need to know as much as possible first.
Some people find the precision-focused environment stressful. Tight Deadlines & Workload Peaks Month-end closes, audits, and regulatory reporting periods can lead to long hours and heavier workloads.
Your understanding of the Goldman Sachs investment banking hierarchy is largely accurate. The typical progression starts with Analyst, then Associate, followed by Vice President, Executive Director or Senior Vice President, and finally Managing Director.
They requested a cap of 80 hours. In response, Solomon praised the workers' rare step, and said the company's existing 'Saturday rule' that junior bankers are forbidden to work from Friday at 9pm until Sunday morning will be enforced.
Morgan Stanley, which has a $2.3-trillion wealth management unit, has tripled its loans to high-net-worth individuals in the last five years. Musk has also been a client of Morgan Stanley's investment bank, hiring it and Goldman Sachs Group Inc.
The primary "royal family bank" in the UK is Coutts & Co., a prestigious private bank known for serving high-net-worth individuals, including the British Royal Family, for over 300 years, offering exclusive wealth management, lending, and banking services. Another firm with deep royal ties is Rothschild & Co., a global advisory and investment bank that historically served the British nobility and royalty, with former chairman Sir Evelyn de Rothschild being a personal advisor to Queen Elizabeth II.
Getting hired at prestigious investment banks like Goldman Sachs or JP Morgan proves incredibly difficult - their acceptance rates can be as low as 0.8%. Goldman Sachs received 236,000 internship applications in 2022 and selected just 1.5% of candidates. Life doesn't get easier after landing the job.
