The room wasn’t large enough to hold all the hopeful candidates for Goldman Sachs summer internship. Standing in doorways and sitting in aisles, students eagerly listened to GS team members present the shiny opportunity.
Last year, three summer interns were chosen from Salt Lake Community College. With 75 to 80 percent of interns going on to full-time employment, it’s easy to see why so many are keen to listen and possibly apply.
The process to obtain the internship is said to be brutal. Shalay, former SLCC student turned intern, said she met with multiple people before being offered the position, and other team members hinted at the possibility of up to 50 interviews. Even though Shalay spoke of 10 to 12 hour workdays, she seemed more than delighted to be part of the GS team, calling it the “best opportunity.” Her advice to any new intern is to ask a lot of questions.
Goldman Sachs is a financial services company ranking number 23 on Fortune 100’s best places to work. Although they have been on the list since its inception in 1998, some think the firm may have seen its brightest days. According to Dealbreaker, 4th quarter earnings fell 52 percent to $2.4 billion. This apparently did not stop them from increasing Chief Executive Officer Lloyd Blankfein’s pay from $600,000 to a cool $2 million. Goldman Sachs’ Chief Financial Officer, Chief Operating Officer and Vice Chairman’s also saw pay raises to $1.85 million each.
Another dark cloud is their recent social networking faux pas. Far removed from accidentally placing a few drunken Christmas party photos – GS lured investors in on hopes of buying in to Facebook’s international venture. According to Internet posts they then “pulled the rug out” when they announced that they could no longer offer it to United States investors. The offering is being made solely to foreign buyers. In an Emerging Media poll of 355 voters, 87 percent of respondents think GS erred in its handling of the Facebook share offering.
When associates were asked about the recent Facebook debacle they would make no comment and instead referred us to their media department.
To combat these gray skies, GS shows itself as a philanthropist in other areas. Their campaign of 10,000 women, where they offer women globally a business and management education, has public appeal. They also boast the “10,000 small businesses” – a massive investment to help create jobs and economic opportunity in the United States.
In addition to these commitments, their innovative website greets users with a flurry of fascinating and encouraging facts about the company. They state commitment to excellence, belief in the power of a team, and creative ideas and solutions from diverse educational backgrounds as the focus for recruitment.
Community bridge events like the one held at the Salt Lake Community College also help to smooth the GS image.
The Salt Lake City office with over 1000 employees “continues to grow” according to Vice President Leonard O’Mara. Anyone interested in applying for the Goldman Sachs internship should do so online at goldmansachs.com. Although they do deal mainly with finances, they are open to students from many different fields, including those with an arts emphasis. They are mainly looking for SLCC students who are in their final year and who are planning on transferring to obtain four-year degrees.
Goldman Sachs will also be holding a workshop for resume and interview assistance in the Student Resource Center, Room 223. Those planning on attending the workshop may want to arrive early to be sure to get a seat.