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Odds at Goldman--very bad

barronsbarrons Registered User Posts: 24,910 Senior Member
edited July 2007 in Business Major
"It's still harder to get into Goldman than into Princeton University. The bank offers jobs to about 5 percent of applicants -- about half of the 9.5 percent acceptance rate for the New Jersey school's class of 2011. Some 900 undergraduates at the University of Pennsylvania's Wharton School -- out of a student body of 2,400 -- applied for summer internships at the bank, Raiffa says. Just 70 of them were accepted."
Post edited by barrons on
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Replies to: Odds at Goldman--very bad

  • sophomore12sophomore12 Registered User Posts: 1,095 Senior Member
    That's expected... it's Goldman "freaking" Sachs... and they can't take everyone from Wharton for an internship, they pick and choose from all the target schools... imagine, all the BB banks run by Wharton grads.... (cut-throat anyone, more than usual?)
  • UCgradmaryUCgradmary - Posts: 487 Member
    I wonder if that includes all the unsolicited resumes they get?
  • sophomore12sophomore12 Registered User Posts: 1,095 Senior Member
    I just read the article... wow... I'm pumped for some reason... I think it definitely includes the "unsolicited resumes," if you just look at the number of people who land interns and full-time from target schools, I'm sure its much higher... (though not too much)
  • the_aspirantthe_aspirant Registered User Posts: 427 Member
    who cares. most people apply and drop resumes just for the heck of it.

    i honestly think working for mckinsey is more prestigious than goldman.
  • redhare317redhare317 Registered User Posts: 1,449 Senior Member
    McKinsey is definitely just as hard, if not harder, to get into than GS out of undergrad. I don't even think they have internships. But you can't compare the best apple to the best orange. It's just that some people like apples and others like oranges.
  • redhare317redhare317 Registered User Posts: 1,449 Senior Member
    btw, the Rentec offer was quite impressive. They probably hire one person every now and then.
  • mahras2mahras2 Registered User Posts: 1,977 Senior Member
    RenTech was by far the most impressive. Considering DE Shaw hires 1 in 500 (and RenTec is thought to be as selective) thats a good accomplishment. However, we don't know exactly what the job was (probably programming as the really plum research position go to stars in particular areas of science/engineering).

    They should have made a distinction between whether this was mostly a programmer job or a quant-trader job. They say "write algos for trading" which essentially means a programming job and would entail putting designs made by others into production. Thats different from a quant-trader/quant type position which entails research and actual system development. However, I have no idea considering they are so vague with the descriptions.
  • VectorWegaVectorWega Registered User Posts: 1,872 Senior Member
    Southwest Airlines has more applicants per position than Harvard has for it's freshman class openings. Does that make Southwest Airlines more exclusive than Harvard? Of course not. This Goldman Sachs stat means NOTHING.
  • barronsbarrons Registered User Posts: 24,910 Senior Member
    SWA is not getting many apps from Wharton. The fact that so many Wharton students (say top level quality) get dinged is amazing--probably to them too.
  • ridewitbd24ridewitbd24 Registered User Posts: 623 Member
    ^its by default though. why would a company want all whartonites? i think the compant atmosphere wouldnt be as dynamic. dont get me wrong, the people at wharton are great (one of my best friends goes there) but everyone from the same school would suck. 900! do alot of top schools have this many applicants?
  • DawgieDawgie Registered User Posts: 1,576 Senior Member
    Nice thread here, just a reminder that none of you guys that are interested in Investment Banking will actually get into it.
  • red sox 7327red sox 7327 Registered User Posts: 765 Member
    Speak for yourself.
  • jnpnjnpn Registered User Posts: 787 Member
    Nice thread here, just a reminder that none of you guys that are interested in Investment Banking will actually get into it.

    For graduates from my school, Goldman is the fourth most common employer(after three other investment banks) and investment banking is, by far, this most common job. I can't say I'll get in to Goldman, but I think I'll be alright. As redsox said, speak for yourself.
  • hotpiece101hotpiece101 Registered User Posts: 4,042 Senior Member
    what school do you go to, jnpn?
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