Use this guide to review sample interview questions & answers used at Goldman Sachs and other financial institutions. 8 minute read.
Many people who apply for Goldman’s summer internship will have to go through a set of interviews before they are offered a job at the bank.
Business Insider says that Goldman Sachs got a record 263,000 applications for its summer analyst program this year alone. With that in mind, companies like Goldman typically cut a majority of candidates during the resume screening process.
To learn how to sharpen up your resume, check out the article âMy Goldman Sachs Investment Banking Resumeâ.
If your resume makes it past the first round of screening, you may be asked to do a video interview, also called a Hirevue, where you can talk about yourself and why you’d be a good fit for the job.
In case you haven’t heard of Hirevues or video interviews, this is the type of platform that most investment banks use for candidates to answer pre-recorded video questions.
In the hirevue, Goldman Sachs usually only asks behavioral questions. However, some banks may add one or two technical questions from time to time. To best prepare for this section, see the behavioral questions and answers section in this article.
Landing an interview with Goldman Sachs as an analyst is a coveted opportunity. As one of the most prestigious investment banking firms worldwide, Goldman Sachs receives thousands of applications annually for its highly competitive analyst program.
The interview process is notoriously rigorous designed to thoroughly assess your technical skills financial knowledge, communication abilities and problem-solving aptitude. You’ll likely face multiple rounds of intense questioning aimed at determining your potential to thrive in the firm’s intellectually demanding environment.
To boost your chances of success, it’s essential to enter each interview prepared to showcase your qualifications and analytical thinking. This article provides insider tips and sample responses to the top 25 most common Goldman Sachs analyst interview questions. Mastering these will help you highlight your strengths, address potential weaknesses and demonstrate why you’re an ideal candidate.
1. Walk me through your understanding of the analyst role at Goldman Sachs. What are the key responsibilities?
This question tests your knowledge of the analyst function and how it contributes to Goldman Sachs’ success It determines whether you’ve researched the nitty-gritty of the job beyond its prestige.
Sample Response As a Goldman Sachs analyst, my core responsibilities would be supporting business operations through in-depth financial modeling, valuation analysis, due diligence and investment decision support I would work closely with sales, trading and other departments to create materials that inform strategic recommendations to clients. This requires keeping abreast of market trends, regulatory issues and industry developments that may impact investments Attention to detail is critical, as my work will directly influence multimillion-dollar decisions. I’m also expected to help monitor risk and ensure activities adhere to compliance standards. Above all, I must execute responsibilities with the utmost integrity, protecting the firm’s reputation.
2. How have your past experiences prepared you for this role?
Here, discuss specific examples that highlight skills aligned with an analyst’s core functions – technical expertise, analytical thinking, communication, relationship management and business ethics.
Sample Response: Throughout my internships at [Firm X], I developed advanced valuation modeling skills and honed my ability to interpret financial data. For instance, I built a dynamic M&A model from scratch to assess potential acquisition targets, demonstrating strong technical expertise. In my role at [Firm Y], I spearheaded a project to revamp client reporting procedures. This involved liaising with department heads to understand pain points, identifying solutions and gaining executive buy-in. We reduced reporting turnaround time by 15% – showcasing my relationship management, communication and problem-solving capabilities. Across experiences, integrity has underpinned my actions, ensuring diligent regulatory compliance. These examples exhibit strengths directly translatable to a Goldman Sachs analyst role.
3. Goldman Sachs deals with highly complex products and transactions. How would you handle ambiguity and think through problems?
This behavioral question tests your critical thinking and perseverance when tackling complicated scenarios with unclear solutions. It reveals your analytical capabilities even with imperfect information.
Sample Response: Throughout my academic and professional projects, I’ve frequently dealt with multifaceted problems requiring creative problem-solving without obvious answers. For instance, when auditing client financials, I noticed irregularities that didn’t breach guidelines but merited further scrutiny. I traced transaction flows to uncover process gaps enabling those inconsistencies. Identifying the root cause enabled us to revamp protocols, enhancing compliance. In situations with limited clarity, I leverage my financial knowledge to make informed assumptions when necessary, then remain flexible as new data emerges. At Goldman Sachs, I’m excited to tap my perseverance and analytical approach to navigate ambiguity and drive solutions, even on novel, complex issues.
4. Walk me through your valuation methodology for a potential acquisition.
This technical question tests your financial modeling prowess and valuation capabilities relevant to Goldman’s M&A advisory services. Outline your step-by-step methodology clearly and avoid generic theoretical concepts.
Sample Response: My valuation methodology would begin with gathering extensive data on the target including historical financials, capital structure, projected performance, industry benchmarks, macroeconomic factors and competitive intel. Next, I would build a flexible financial model incorporating sensitivity analysis to value the target under both optimistic and pessimistic scenarios. Valuation methods would include DCF, comparables and precedent transactions. I would analyze outputs to determine a fair value range and identify potential risks, growth opportunities and synergies. My report would communicate assumptions and methodologies transparently, enabling clients to make informed bid decisions. I’m confident this rigorous, customized approach suited to the specific target and client needs aligns with Goldman Sachs’ valuation standards and practices.
5. A key client needs a recommendation on their equity portfolio within 24 hours. How would you approach this?
This situational question reveals your ability to operate under tight deadlines without compromising analytical rigour or attention to detail. It tests your prioritization and client service skills.
Sample Response: Given the urgent deadline, my first step would be to request a call with the client to clarify their goals, risk appetite and any constraints. I would then use available resources to swiftly gather relevant data on their current portfolio, macroenvironment, sectors and potential new investments. Identifying relationships between data points would enable insightful analysis. I would leverage financial models to stress test and value opportunities rapidly. Finding the optimal recommendation balancing risk, return potential and the client’s needs within 24 hours would require relentless focus. Maintaining constant dialogue to align on the solution approach would also be crucial. With preparation, time management and client collaboration, I’m confident I could deliver a recommendation exceeding expectations even under such tight timelines.
6. How would you respond if a senior manager disagrees with your financial analysis?
This question reveals your communication skills, confidence and composure when your work is challenged, especially by those in authority. It demonstrates your professional maturity.
Sample Response: If a senior manager disagreed with my analysis, I would first aim to understand their perspective and any flaws they perceive in my work. I would walk through my methodology and assumptions transparently, asking questions to identify discrepancies between our views. If my work contained errors, I would acknowledge them, learn from insights provided and aim to avoid repeating mistakes. However, if I believed my analysis was accurate, I would stand by my work while remaining open-minded. I would present additional supporting evidence and respectfully discuss differences. My goal would be reaching an outcome where the manager and I both feel aligned on the optimal path forward, without compromising the integrity of my work.
7. Tell me about a time you proactively improved productivity in your team.
Goldman Sachs expects analysts to demonstrate leadership qualities and own processes. Share an example that highlights your problem-solving, creativity and initiative even early in your career.
Sample Response: In a previous role, our team struggled with cumbersome data collection processes that delayed analysis. I spearheaded an effort to streamline this by creating automated dashboards pulling real-time data. This involved understanding pain points through team discussions, researching dashboard best practices and self-learning relevant technology skills. My proactive approach reduced data collection time by 20%, enabling quicker insights. It also strengthened team engagement. This showcases how I drive impact beyond my core responsibilities. At Goldman Sachs, I’m excited to leverage this solution-oriented, collaborative mindset to contribute process innovations that maximize team performance.
8. Why are you interested in this role, and how does it fit your long-term goals?
With this question, interviewers look for evidence this role is the right step for you based on your interests, values and aspirations – not just the firm’s prestige.
Sample Response: I’m deeply interested in this role because it aligns with my passion for capital markets and desire to advise clients on strategic financial decisions. As an analyst, I would have the opportunity to develop specialized expertise and hone my valuation and analytical skills on complex deals. The fast-paced, intellectually stimulating environment also strongly appeals to me. Longer-term, my goal is to leverage this foundational experience to advance into an investment banking leadership position guiding major M&A and equity transactions. I’m confident Goldman Sachs’ rigorous training, deal exposure and merit-based culture will enable my growth as a finance professional. Above all, the firm’s principles and dedication to clients resonate with my own values.
9. Give me an example of how you explained a complex financial concept to a non-finance executive or client.
This behavioral question tests your ability to translate complex technical information into concepts and narratives digestible to those with limited financial literacy. Strong communication skills are vital for an analyst.
Sample Response: While working on an IPO, our team needed to explain capital structure alternatives and impacts to the founder, who had a non-finance background. I tailored our presentation to focus on key concepts without overloading on jargon. Using simple analogies and visuals, I explained principles like optimal debt-to-equity ratios in relatable terms. The founder later provided positive feedback that this approach enabled him to have informed discussions with our team. At Goldman Sachs, I would leverage similar communication techniques to ensure all stakeholders, regardless of background, understand important financial information enough to make decisions aligned to their goals.
10. Tell me about a time you faced a challenging situation with a client. How did you handle it?
This question reveals your client management skills when navigating difficult circumstances. Share an example highlighting your professionalism, problem-solving and adaptability.
Sample Response: During a valuation analysis, a client strongly opposed some
Technical Questions & Brainteasers:
Be sure to have a fundamental understanding of finance and accounting. You should know how to talk about the three main financial statements, the three main valuation methods, and other common financial terms used in the field. To best prepare, check out our Complete Finance & Valuation course.
Banks and other financial institutions also like to use brainteasers to see how creative you are and how quickly you can solve tough problems.
To review sample technical and brainteaser questions, check out this guide on Must Know Finance Interview Questions.
Check out our Complete Finance course if you want to get better at technical finance so you can get a competitive internship or full-time job in the field.
Superday (Final Round Interview)
If you make it past HireVue, you’re in the final round of interviews! The superday at Goldman Sachs and similar banks typically consists of 3-4 back-to-back interviews.
These interviews will likely contain a mix of behavioral and technical finance questions. Goldman Sachs is known to ask a lot of behavioral questions, but it depends on the interviewer and the candidate’s previous work experience in finance.
Youâll be able to prepare for most behavioral interview questions with the breakdown below.
- Understand the position. Interviewers can test this with a number of different questions. It’s important to know about the job you’re applying for and how it will help the company.
- Your motivations for applying. The industry is known for its high employee turnover. You should be able to explain why you want the job besides money or fame.
- Financial news. People who are really interested in finance will know about the latest financial news. Common sources include the Wall Street Journal, Financial Times, etc.
- Situational questions. Banks like to see how tough a person is and how well they can handle tough situations. Are you ready to answer “What would you do?” and “Tell me about a time?”
See sample questions and answers below.
Q: Why Goldman Sachs and why the division you are applying to?
A: I’m interested in the investment banking division because it helps shape the strategic future of the industries these companies compete in by facilitating deals that greatly affect the biggest companies in the world today. Goldman is particularly well known for its leadership and strength in investment banking, exemplified by its #1 position in worldwide announced and completed M&A and IPOs for 2021. This kind of experience, especially at the junior level, would be very helpful to not only understand how the industry works but also make a difference in it. Â.
Having talked to people from all over IBD at school information sessions, I feel that Goldman’s culture is also very similar to mine. I like how the lean deal team structure puts an emphasis on ownership and teamwork, with each member being able to serve as a cog and adapt to different situations throughout the deal process. These are qualities I look for in a perfect workplace. Â.
Q: Describe a current event or recent transaction that you find interesting.
A: One recent transaction that I find interesting is JetBlueâs proposed all-cash acquisition of Spirit for $3. 8bn. The interesting thing to me about this deal is how it might affect the airline business and how antitrust laws might change the outcome. I believe the acquisition makes sense from a business point of view because it will 1) increase JetBlue’s route network to compete with the Big Four airlines; 2) provide immediate fleet expansion for an industry dealing with wider supply chain problems and accidents for manufacturers like Boeing; and 3) broaden the company’s offerings to include ultra-low cost flights. However, I still see some possible risks. People are talking a lot about how JetBlue and Frontier are competing to see who can bid the highest on Spirit’s assets. This makes people wonder if Spirit’s fundamentals really justify the price. Also, even though the four biggest airlines control most of the market, the DOJ and FTC are becoming more and more against big company acquisitions, which could make execution harder. Goldmanâs work as JetBlue’s financial advisor shows how the company can lead some of the most important deals for consumers around the world. Â.
Q: Why have you applied for IBD Classics (coverage groups)?
A: I’m interested in IBD Classics because the group covers a wide range of financial products and transactions. There aren’t many big competitors like Goldman Sachs whose coverage teams have M The fact that Goldman has been #1 in global completed M&A for 22 of the past 23 years speaks to the types of transactions I may have the opportunity to oversee. The group is strong in stocks and is becoming more present in debt, so I’ll also be able to see how other transformative deal processes work. Â.
Q: Why have you applied for IBD Financing (product groups)?
A: Debt has always been one of the most interesting products to me because it is so complicated and nuanced. I want to work in a debt group at Goldman Sachs. In Lloyd Blankfein’s last letter to shareholders, which was written in 2017, he said that the bank had made debt underwriting one of its top strategic priorities five years before. By 2017, Goldman made almost $3 billion in net income from underwriting debt, which was more than twice the company’s average from 2009 to 2011. The group is now ranked third in the league tables for debt, even though its balance sheet isn’t as strong as that of investment banks with commercial banking arms. Because of this, I can tell that Goldman’s underwriting skills are different because they come with strategic advice. I think that learning in this setting would be a great chance for a career. Â.
Q: How does your experience make you a strong candidate for the job?
A: What I learned as an FP before This experience, which involved turning data into predictions of income and expenses, will help me make the kind of well-thought-out business decisions that clients and companies value.
Q: Where do you see yourself in 5 years?
A: Since I’m still pretty new to my job, it’s hard for me to say where I want to be in 5 years. A rough idea of what I want to do with my early years is to learn all the little operational details that make the company run every day. Then, after 5 years, I hope to be able to take on a bigger leadership role that will allow me to make better business decisions based on more thought and insight.
Q: Tell me about a time you didnât get along with a coworker.
As I worked on a group project for one of my classes, I had a disagreement with another group member at first because we both wanted to do a certain part of the project. So that we could both share some of the responsibility for that part of the project, we decided to break it up into smaller sub-deliverables. Because of this, everyone was happy with their duties, and we were even able to make better use of our own strengths. This was reflected in our final work product, which exceeded expectations for the assignment. Â.
Q: Tell me about a time when you were part of a failed project.
A: I was working on a group project for a sister team within the company. I wanted to make a good first impression by saying the project would be done in two weeks, even though it was a big job. 5 weeks. The project ended up taking 4 weeks, which reflected poorly on our planning, organization, and ability to execute. I learned to be more thoughtful about project milestones and how I talk to people on my team after this. Since then, Iâve given out more conservative estimates on deliverables, as its always better to âunder-promise and over-deliver. â.
Q: Give us an understanding of the job you applied for.
A: From what I understand, the equity research department’s job is to give institutional investors opinions on a company’s worth based on its financials and business drivers, both big-picture and specific to the company. These points of view are put together in research reports, which are then used to decide whether a bank should buy, sell, or hold shares of a certain company. Equity research analysts usually focus on a group of companies within a certain part of an industry. For example, Chemicals is a part of Industrials as a whole.
Q: What do you like to do outside of school or work?
A: I enjoy playing basketball with my recreational campus team. It’s fun to play in tournaments where everyone is trying to beat each other, and many of the skills you need to do well on a basketball team are also useful at work. I also find the strategic part of the game to be very interesting. When you use different strategies that work best for different players in different game situations, you can get the most out of your team.
Q: What is a weakness that you have and how are you working to improve it?
A: Sure, I learned how to do financial modeling over the summer, but I think I could get better at using technical software like SQL and Python. I think it will become more and more important to know SQL and other data-oriented software skills as technology keeps getting better and businesses use more data. The SQL class I’m taking at school is really interesting, and I can’t wait to use some of what I learn in my next job. Â Â.
How to Answer Goldman Sachs’ HireVue Interview Questions
FAQ
Are Goldman Sachs interviews hard?
How hard is it to get an analyst job at Goldman Sachs?
How much does an analyst at Goldman Sachs earn?
What questions does Goldman Sachs ask?
Goldman Sachs is known to ask mostly behavioral questions, but experiences will vary depending on the interviewer and the candidate’s previous finance experience. You’ll be able to prepare for most behavioral interview questions with the breakdown below. Understand the position. Interviewers can test this with a number of different questions.
Why should you interview at Goldman Sachs?
Goldman Sachs is known for its rigorous standards and commitment to efficiency. By asking this question, the interviewers are aiming to understand how you can bring value to their operations.
How difficult is Goldman Sachs interview?
I interviewed at Goldman Sachs (New York, NY) It is virtual via a zoom link received three days before the interview. There will be an analyst asking questions about both behavioral and technical. Not very difficult but needs some business sense. What is your strength and weakness? I interviewed at Goldman Sachs (New York, NY)
What does Goldman Sachs expect from analysts?
Goldman Sachs, being a leader in this field, expects its analysts to have this capability. This question is designed to gauge your ability to stay calm, think strategically, and make sound decisions when the stakes are high. Your response will provide insight into your problem-solving abilities and your capacity to perform under stress.
