For students hoping to break into investment banking, time is quickly running out to apply for one of the most exclusive gigs on Wall Street — a summer internship at Goldman Sachs.
Applicants should apply for Goldman's 2023 IB summer analyst program by April 10, according to a newly leaked slideshow obtained by Insider. (The company says on its website that it will begin to accept applications for other positions, including internationally, starting on July 1.)
In late March, Goldman's campus recruiters delivered two presentations to undergrads at the Wharton School of the University of Pennsylvania, offering more than two dozen pages teeming with information about the firm's uber-exclusive investment-banking and asset-management summer analyst programs.
Insider reviewed the contents of both presentations. They're chock full of intel that students will need to know before throwing themselves into the intensely competitive process, which rejects 98.5% of applicants. In addition to a mock schedule explaining the day in the life of a Wall Street analyst, the two slideshows offer a host of other details about everything from the inner workings of the bank to what investment bankers and asset managers actually do every day.
The two presentations highlight a series of notable stats about the firm's investment-banking and asset-management divisions. One page, titled "Why IBD at GS?," touts the investment bank's league-table topping positions in mergers and acquisitions and equity capital markets, as well as its strong track record in institutional loans and high-yield debt.
A slide in the asset-management division's presentation points out the group's $2 trillion in assets raised from more than 1,000 institutional investors, nearly 500 wealthy individuals, and 556 "financial intermediaries."
A spokesperson for Goldman Sachs declined to comment on the slideshows. The acceptance rate for the bank's forthcoming 2022 summer analyst class is just 1.5% of all applicants, handpicked from roughly 236,000 candidates globally last year, according to data reported by CNBC this week.
Goldman doesn't have a phone-it-in culture, so applicants should prepare for a jam-packed, fully in-person program. CEO David Solomon has emphasized the benefits of being physically together to help young talent grow. Insider recently reported that the bank has gone as far as counting employee ID swipes to determine who still isn't coming into the office early or often enough.
"Bringing our people together is core to our apprenticeship culture and client-centric business, especially as an employer of choice for young people in the beginning stage of their career," Vicki Tung, the firm's global head of talent acquisition, said in a statement.
This year, Goldman's summer internships will kick off on June 6. Looking ahead to 2023, it's anybody's guess how many students will have applied — but these decks could hold valuable clues to help students stand out.
(Plus, take a look at this list of 22 prep questions developed by Goldman Sachs and Morgan Stanley which show what to expect in pressure-cooker superday interviews, too.)
Check out two exclusive slideshows obtained by Insider detailing Goldman Sachs' investment-banking and asset-management internships, which the firm recently presented to students at Wharton.
Are you a student planning to participate in recruiting for 2023 summer internships on Wall Street? Contact this reporter. Reed Alexander can be reached via email at ralexander@insider.com, or SMS/the encrypted app Signal at (561) 247-5758.
