What it Does: The firm provides advisory services to corporations, financial institutions, and governments internationally. The firm's primary business areas include investment banking, trading, principal investments, asset management, wealth management, and private equity.
Mission: Goldman Sachs is committed to being a great place to work and developing top talent. They seek people who are excited by the challenge of impacting the world's economies and businesses.
Size and Presence: Goldman Sachs has two offices in India, one in Mumbai and the other in New Delhi. Its employee base in India has grown over the years, with over 6,000 people based out of its Mumbai office. This includes employees from all levels — from junior associates to senior vice presidents and managing directors.
Best Known For: Goldman Sachs was one of the few major investment banks that survived the Wall Street crash of 1929 and the Great Depression of the 1930s intact — a testament to its prudent management.
The Good Bits: Goldman Sachs is a great company to work for. It has a very diverse culture, and you get to meet people from all over the world. The values of the organization are aligned with personal values, which makes it easy for employees to go to work every day.
The Not So Good Bits: Goldman Sachs has struggled to stay profitable amid a broad market decline and increasing competition from other banks like JPMorgan Chase and Morgan Stanley.
The history of Goldman Sachs is a long and colourful one that stretches back to 1869 when the firm was founded by Marcus Goldman, a German immigrant who had arrived in America in 1864. Goldman was joined by his son-in-law Samuel Sachs, and together they opened an office on New Street in New York City and began trading stocks.
The company grew quickly as it became known for its willingness to take risks other firms wouldn't. One of their most notable achievements was their role in helping J.P. Morgan rescue the U.S. Treasury from bankruptcy following the Panic of 1893. The firm also helped bring down the price of silver, which was then backed by gold reserves. The firm shorted the metal when many were hoarding it due to fears over its availability (known as the Panic of 1893).
The company's success continued through World War I when it was involved in helping Britain raise money through bond sales on Wall Street. It also emerged from the war with an expanded focus on investment banking services such as underwriting securities issues for corporations and governments globally.
The Goldman Sachs culture is one of hard work, perseverance, and teamwork. The company provides an environment where people can reach their full potential. Goldman Sachs employees are encouraged to take an active role in their professional growth and personal development.
The recruitment process at Goldman Sachs is very selective and challenging. It includes several rounds of interviews, which will test your aptitude, intelligence, and personality. An HR representative from Goldman Sachs will conduct the first round of interviews. If you get through this step, you will be called for further interviews with senior managers from various departments within Goldman Sachs. You will also need to complete an online assessment test before attending any interview sessions with Goldman Sachs representatives.
Goldman Sachs offers career opportunities for those with an entrepreneurial mindset who want to impact the world. The firm is committed to helping its people achieve their full potential by providing them with an environment that supports their growth and development.
The lowest salary reported by employees is INR 3,00,000 per year, while the highest salary reported is INR 1,00,00,000 per annum.
Goldman Sachs has helped over 3 million small businesses worldwide through its 10,000 Women program. This initiative provides entrepreneurs with access to training, education, and financial services. By 2020, Goldman Sachs plans to reach 5 million women by providing them with increased access to capital and opportunities for social mobility through entrepreneurship programs.
The firm faced criticism for its role in helping Greece hide its budget deficit from European Union officials, an operation that led to a criminal investigation by German authorities.