Goldman Sachs reportedly introduces a new initiative aimed at keeping interns on board.
Goldman Sachs, one of the world's leading investment banks, has launched a new career mobility program aimed at retaining top interns and junior bankers within the firm. The initiative offers a structured, alternative career path within Goldman Sachs, providing analysts with a guaranteed transfer opportunity from the investment banking division to the Asset & Wealth Management (AWM) division after two years.
The program is designed to address the growing challenge of junior bankers leaving early for private equity firms, as well as to strengthen Goldman Sachs’ internal talent pipeline. By offering an internal buyside option, Goldman hopes to reduce attrition and keep talented individuals within the firm longer.
The structured career path begins with analysts starting in investment banking and transitioning to the AWM division, which handles private equity and alternative investments, after two years. This pathway provides exposure to buyside work that junior bankers often seek outside of investment banking.
While the transfer to AWM and affiliated units such as Goldman Sachs Asset Management and Private Equity arms offers attractive opportunities, it will be competitive, as the number of available seats is limited. Interns, however, will receive early commitments that provide a clearer career roadmap at Goldman Sachs, assuring them of full-time roles followed by progression opportunities to alternative areas within the firm.
The broader purpose of this program is to create a fairer playing field by offering an attractive internal alternative to external job offers. It also highlights Goldman Sachs' ability to provide diverse and rewarding career paths within its ecosystem. The program is part of a broader effort by Goldman Sachs to reduce junior talent attrition, as the financial sector experiences intense competition for talent, with private equity firms being particularly aggressive in recruitment.
In summary, Goldman Sachs’ new program offers top interns and analysts a guaranteed pathway from investment banking into asset management and private equity within the firm, enhancing retention by delivering more attractive long-term career options internally. However, the competitive nature of these transitions and available seats means it will be a selective process.
- This career mobility program at Goldman Sachs, designed for analysts, aims to keep talented individuals within the firm by providing an attractive internal private equity investment opportunity, thereby reducing attrition and addressing the issue of junior bankers leaving early for outside firms.
- Offering a structured pathway from investment banking to the Asset & Wealth Management division, which includes private equity and alternative investments, Goldman Sachs aims to appeal to junior bankers seeking buyside work experience, thus strengthening its internal talent pipeline and creating a more competitive edge against external firms.
