David Solomon, CEO of Goldman Sachs, speaking at the World Economic Forum in Davos, Switzerland, January 23, 2020.
Adam Galacia | CNBC
Internships began this week at Goldman Sachs offices in the United States, according to the global investment bank.
About 3,700 people won a coveted spot in the company’s summer internship program out of a record 236,000 who applied, according to a spokeswoman for the New York-based bank. That’s an acceptance rate of 1.57%.
Goldman says it has recruited students from 607 schools around the world, up 100 from last year, as it relies on software like the HireVue video platform to help it expand its network.
With an unprecedented confluence of geopolitical events and a possible recession on the horizon, this is a particularly difficult time to join the job market. (Successful interns are usually offered two-year analyst positions after graduation.)
On this subject, CEO David Solomon gave some advice to his interns.
Here’s a key excerpt from the email he sent to incoming interns on Thursday:
Year after year, as our articling students begin the summer program, I get asked how you can get the most out of your time at the firm, so I’d like to share some additional tips.
- Take the long term. You are going to have a great summer, but there is no doubt that some days will be difficult. There will be bumps in the road. The important thing is to keep going and enjoy the ride.
- Be an entrepreneur. Be on the lookout for all the ways you can contribute, no matter how small. Regularly asking your team how you can help is often the quickest way to learn more about the company and what we do.
- Embrace evolution. As individuals and as a company, we know we cannot stand still. But, as important as it is to change, it’s also essential to stay true to what makes you, you. For Goldman Sachs, this means living our core values of customer service, excellence, partnership and integrity, as we expand into new cities, develop new businesses and find new and unique ways to serve our customers. and customers.
- Don’t forget to listen. This is how I define a successful meeting: the client speaks, I listen and I ask questions. Try to draw the main takeaways from the conversation. And always end with gratitude for people’s time. Ultimately, your goal is to let this person know that you really heard them.
- Make time for your passions. It’s no secret that I have a hobby outside of work – music requires different mental muscles than I use during the work day. Take the time to do the things you want to do because they stimulate and excite you. Your passions give you the fuel you need to stay motivated.
You will also quickly learn that our employees are eager to hear your ideas because you are the future of our firm – so get involved as much as you can over the next few weeks and actively share your views with your teams. I’ve always said that the best thing about our firm is our people, and that includes the group of talented articling students who join us every summer – all of you. Have a good summer.