So for interns, there is a full week of intros to the business and then division specific training to get everyone up to speed on what they absolutely need to know to do the work. After that, there are occasional soft skills trainings with execs and individual teams will give trainings on very specific topics. To be frank, most of the learning you want to do is up to you so take advantage of getting coffee with fulltime people and take online trainings in your free time.
Former Investment Management Summer Analyst at Goldman Sachs
about 2 years ago
The first week of the summer program is all training for new investment banking and merchant banking summer analysts at the office in Jersey City. These training sessions usually started around 7:00am and let out as late as 10:00pm. It includes a full Training The Street course on corporate valuation, financial statement analysis, and M&A & LBO Analysis. (During my internship and the year before, the instructor for this was actually an adjunct professor from Fordham) You'll be divided into groups alphabetically and each group has a company on which to perform the analysis taught in training. At the end of the week, 2 or 3 groups are chosen through a random drawing to present their work to a panel of Partners & Managing Directors in front of the entire intern class. There's also a lot of GS-specific training during this week on how to format pitch books, etc in "G-Style", how to leverage GS' proprietary tech and other resources that you'll use on the job, and how to carry yourself at the firm (email etiquette, "posting" your various deal teams on your workload, what to do if you make a mistake, etc). You usually hit the desk on the Friday afternoon when training ends. From there, you might have more on-the-desk training depending what group you're in. Not sure about classic coverage groups or the more unique ones like Sponsors or M&A Solutions, but for all the groups in Americas Financing Group (AFG) - Equity Capital Markets, Investment Grade Capital Markets, Structured Finance, Real Estate Financing, Leveraged Finance, FIG Financing, Liability Management, Derivatives and EM Latin America Financing, your first week with your group will be all training as well for group-specific things/technical knowledge. There's also an online learning center accessible to all employees that offers online courses and in-person seminars at the office on different finance/banking related topics. These can be helpful if you have some downtime and there's a new area of the firm's business that you'd like to explore. Throughout the summer, you'll also be highly recommended (required) to schedule "coffee chats" with people in different parts of the firm to get to know them and learn more about what they do.