Odds at Goldman--very bad

College Majors Business Major
1

<p>"It's still harder to get into Goldman than into Princeton University. The bank offers jobs to about 5 percent of applicants -- about half of the 9.5 percent acceptance rate for the New Jersey school's class of 2011. Some 900 undergraduates at the University of Pennsylvania's Wharton School -- out of a student body of 2,400 -- applied for summer internships at the bank, Raiffa says. Just 70 of them were accepted."</p>

2

<p>Link</p>

<p><a href="http://www.bloomberg.com/apps/news?pid=20601109&sid=aJ5z5JLM4JP8&refer=home%5B/url%5D"&gt;http://www.bloomberg.com/apps/news?pid=20601109&sid=aJ5z5JLM4JP8&refer=home&lt;/a&gt;&lt;/p>

3

<p>That's expected... it's Goldman "freaking" Sachs... and they can't take everyone from Wharton for an internship, they pick and choose from all the target schools... imagine, all the BB banks run by Wharton grads.... (cut-throat anyone, more than usual?)</p>

4

<p>I wonder if that includes all the unsolicited resumes they get?</p>

5

<p>I just read the article... wow... I'm pumped for some reason... I think it definitely includes the "unsolicited resumes," if you just look at the number of people who land interns and full-time from target schools, I'm sure its much higher... (though not too much)</p>

6

<p>who cares. most people apply and drop resumes just for the heck of it.</p>

<p>i honestly think working for mckinsey is more prestigious than goldman.</p>

7

<p>McKinsey is definitely just as hard, if not harder, to get into than GS out of undergrad. I don't even think they have internships. But you can't compare the best apple to the best orange. It's just that some people like apples and others like oranges.</p>

8

<p>btw, the Rentec offer was quite impressive. They probably hire one person every now and then.</p>

9

<p>RenTech was by far the most impressive. Considering DE Shaw hires 1 in 500 (and RenTec is thought to be as selective) thats a good accomplishment. However, we don't know exactly what the job was (probably programming as the really plum research position go to stars in particular areas of science/engineering). </p>

<p>They should have made a distinction between whether this was mostly a programmer job or a quant-trader job. They say "write algos for trading" which essentially means a programming job and would entail putting designs made by others into production. Thats different from a quant-trader/quant type position which entails research and actual system development. However, I have no idea considering they are so vague with the descriptions.</p>

10

<p>Southwest Airlines has more applicants per position than Harvard has for it's freshman class openings. Does that make Southwest Airlines more exclusive than Harvard? Of course not. This Goldman Sachs stat means NOTHING.</p>

11

<p>SWA is not getting many apps from Wharton. The fact that so many Wharton students (say top level quality) get dinged is amazing--probably to them too.</p>

12

<p>^its by default though. why would a company want all whartonites? i think the compant atmosphere wouldnt be as dynamic. dont get me wrong, the people at wharton are great (one of my best friends goes there) but everyone from the same school would suck. 900! do alot of top schools have this many applicants?</p>

13

<p>Nice thread here, just a reminder that none of you guys that are interested in Investment Banking will actually get into it.</p>

14

<p>Speak for yourself.</p>

15

<p>
[quote]
Nice thread here, just a reminder that none of you guys that are interested in Investment Banking will actually get into it.

[/quote]
</p>

<p>For graduates from my school, Goldman is the fourth most common employer(after three other investment banks) and investment banking is, by far, this most common job. I can't say I'll get in to Goldman, but I think I'll be alright. As redsox said, speak for yourself.</p>

16

<p>what school do you go to, jnpn?</p>

17

<p>He goes to UMich but I'm not sure if he's in Ross or LSA though.</p>

18

<p>Yeah I'm in Ross.</p>

19

<p>
[quote]
Yeah I'm in Ross

[/quote]
</p>

<p>Wow that's awesome dude. </p>

<p>
[quote]
what school do you go to, jnpn?

[/quote]
</p>

<p>Credit Suisse, JP Morgan, UBS and Goldman Sachs are the top 4 recruiters at UM Ross.</p>

20

<p>
[quote]
SWA is not getting many apps from Wharton. The fact that so many Wharton students (say top level quality) get dinged is amazing--probably to them too.

[/quote]
</p>

<p>And yet, I know several people previously employed by SWA who now work for Goldman after having gone back for their MBA. Yet none of them are from a top 50 business school. LMAO @ the Wharton comment.</p>