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rumour is that Goldman Sachs didn’t handle intern recruiting very well this year. “It seemed like Goldman just sent out the offers and waited for the acceptances to roll in,” we hear from a future intern who rejected Goldman’s offer.
He says that the word among this year’s incoming summer interns (they start in June) is that Goldman’s acceptances didn’t roll in as the firm expected, and worse, that 80% of the class it accepted turned Goldman down. And when the firm asked the students for feedback, it came back quite negative.
“People from JPMorgan and Morgan Stanley called me [4 or 5 times after I was accepted to check in and ask, ‘do you have any questions, what are your thoughts, etc’ but no one from Goldman did],” says our source.
Even at the recruitment session (firms hold sessions that function like “meet and greets” at colleges they recruit from), our source says, the people from JPMorgan were active and engaged. By contrast, those from Goldman were blase; they almost “ignored” the kids.
The would-be Goldman interns are juniors in colleges like Harvard, Wharton, Princeton, and the like – the best schools with arguably, the best candidates for Wall Street firms to hire after the juniors graduate from college in 2012.
Our source says it seemed like Goldman Sachs thought it would be the natural first choice. He says Goldman was “shocked” after hearing the negative feedback. And now, presumably to get them on their good side before “all of the good ones” (our source’s words) get and accept offers for employment at the firms they’re interning at this summer, all of the interns who rejected Goldman have been invited to an event in June.
When we told someone at Goldman Sachs about the rumour that 80% rejected them, they responded: “Well, Goldman is a tough place to work. A lot of people can’t handle it.”
A Goldman Sachs spokeswoman had no comment.