2/9 Goldman Sachs Company Night

This past Thursday, we welcomed Goldman Sachs to talk about the company's Private Wealth Management division. We enjoyed getting to learn about potential career opportunities at Goldman and the nature of the job from our guests. Read below for a brief recap of the most notable takeaways from the evening:

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• Student straight out of college would start off as an analyst

  • In order to perform duties of job, you would have to have your SIE, Series 7, and Series 63 licenses

  • You are the “first line of defense” for high net worth clients - you will have a lot of contact with them as they call with questions

  • Another significant aspect is helping the wealth advisor with presentations and other materials for meetings with clients

• Goldman keeps 70% of profits made while you get to keep 30%

  • Goldman charges a fee on assets managed, and then the fee on returns is variable: smaller fee on less risky products (ex. Bonds) versus greater fee on riskier products (ex. Private equity)

• General career progression is from analyst to Business Development Professional (BDP) to Private Wealth Advisor

  • BDP - job is to drum up new business, ex. Cold calling

• Internships are designed for students who have finished their third year of college

  • Applications and recruitment begin during spring of second year of college

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