Applying for an internship at a prestigious institution like Goldman Sachs is a dream for countless students worldwide. It's a stepping stone that can launch careers into the stratosphere, offering unparalleled experience, networking opportunities, and a significant boost to one's resume. But with such immense allure comes an equally immense level of competition. So, just how many people apply to a Goldman Sachs internship? Let's dive deep into the numbers and explore what it takes to stand out in such a crowded field.
The Staggering Numbers: A Glimpse into the Competition
You might be wondering, "Is it really that competitive?" The answer, unequivocally, is yes. The application numbers for Goldman Sachs internships are truly eye-opening, highlighting the fierce battle for a coveted spot.
In recent years, the number of applications has surged dramatically:
2022: Approximately 236,000 people applied for a Goldman Sachs internship.
2023: This number rose to 260,000 applications.
2024: Goldman Sachs received over 315,000 applications for its summer internship roles.
2025: A record-breaking 360,000 students applied for a Goldman Sachs internship. This marks a 15% increase from the 2024 cycle and a staggering 300% jump since 2018.
Consider this: For the 2024 cycle, only 2,600 interns were accepted out of 315,000 applicants, leading to an astonishingly low acceptance rate of 0.8%. For the 2025 cycle, with 360,000 applicants, the acceptance rate was even lower at 0.7%. To put this into perspective, getting into a Goldman Sachs internship is now significantly more selective than gaining admission to an Ivy League university like Harvard, which accepted 2.58% of applicants for its Class of 2025.
These figures underscore the extraordinary level of demand for these internships and the rigorous selection process Goldman Sachs employs.
Your Step-by-Step Guide to Navigating the Goldman Sachs Internship Application
So, you're still interested, despite the daunting statistics? Excellent! That resilience is precisely the kind of quality Goldman Sachs looks for. Let's break down the application process into actionable steps to maximize your chances.
Step 1: Discover Your Fit – What Program is Right for YOU?
Ready to begin your journey? Before you even think about crafting a resume, take a deep breath and explore the vast array of internship programs Goldman Sachs offers. They aren't a one-size-fits-all firm. Understanding their diverse offerings is the first crucial step to tailoring your application effectively.
Summer Analyst Program: This is their flagship program for undergraduate and postgraduate students, typically lasting 8-10 weeks. It offers immersion into day-to-day activities across various divisions.
Summer Associate Program: Designed for MBA students, offering a similar immersive experience at a more senior level.
Off-Cycle Internships: These are available in various regions and can be a great option for students who cannot participate in the traditional summer programs.
Specific Divisional Programs: Goldman Sachs has internships tailored to specific divisions like:
Investment Banking
Global Markets (Sales & Trading)
Asset Management
Engineering
Global Investment Research
Operations
Human Capital Management
And many more!
Action Point: Visit the official Goldman Sachs Careers website (https://www.google.com/search?q=careers.goldmansachs.com) and meticulously research each program. Consider your academic background, career aspirations, and what truly excites you. Don't just apply to everything; target programs where your skills and interests genuinely align.
Step 2: Ace the Application – Crafting Your Narrative
Once you've identified your target programs, it's time to build a compelling application. This is where you tell your story and demonstrate why you're a perfect fit.
Resume/CV – Your Professional Snapshot:
Tailor it ruthlessly: Every bullet point should be relevant to the role you're applying for. Use keywords from the job description.
Quantify your achievements: Instead of saying "managed projects," say "Managed 3 projects simultaneously, leading to a 15% increase in efficiency." Numbers speak volumes.
Highlight relevant coursework and skills: Even if you don't have direct work experience, showcase academic projects, relevant courses, and technical skills (e.g., Python, R, financial modeling).
Keep it concise: Typically, one page is sufficient for undergraduates. Quality over quantity is key. As Vicki Tung, Goldman Sachs' Head of Recruiting, advises, "Don't pad your resume — date ranges make a difference." They look for long-term commitment and tangible impact.
Cover Letter – Your Story in Words:
Personalize it: Address it to the specific team or program you're interested in. Avoid generic templates.
Express genuine interest: Articulate why Goldman Sachs, why this specific division, and why this internship. Connect your passion to their mission.
Showcase your understanding of the firm: Reference recent news, their values, or specific deals they've been involved in. This demonstrates your research and commitment.
Highlight key experiences: Briefly connect your past experiences (academic, extracurricular, part-time jobs) to the skills required for the internship.
Online Application Form – The Formalities:
Be meticulous: Double-check every detail for accuracy. Any discrepancies can be a red flag.
Answer all questions thoroughly: Don't leave anything blank if it's applicable.
Adhere to deadlines: This is non-negotiable. Goldman Sachs often has rolling applications, so applying early can be advantageous.
Step 3: Conquer the Assessments – Showcasing Your Aptitude
Many competitive internships, including those at Goldman Sachs, utilize online assessments to filter candidates. These tests gauge various skills crucial for success at the firm.
Situational Judgment Tests (SJTs): These present you with hypothetical workplace scenarios and ask you to choose the most appropriate response. They assess your judgment, problem-solving, and alignment with Goldman Sachs' culture and values.
Numerical Reasoning Tests: Expect questions involving data interpretation, percentages, ratios, and financial calculations. Practice makes perfect here.
Verbal Reasoning Tests: These evaluate your ability to understand and interpret written information.
Logical Reasoning Tests: These assess your abstract thinking and pattern recognition.
Pro Tip: Many online platforms offer free practice tests for these types of assessments. Utilize them extensively to familiarize yourself with the format and time constraints.
Step 4: Master the Interview – Your Chance to Shine
If you clear the initial hurdles, you'll be invited for interviews. This is your opportunity to articulate your skills, experiences, and enthusiasm directly.
Behavioral Interviews – The "Tell Me About a Time When..." Questions:
STAR Method: Prepare your answers using the STAR method (Situation, Task, Action, Result). This provides a structured and comprehensive response.
Goldman Sachs' Core Values: Be prepared to discuss how your experiences align with their principles (e.g., client focus, teamwork, integrity, excellence).
Integrity and Ethics: As Vicki Tung noted, "We will ask students how they handle various scenarios where integrity may be in question. And dependi
ng on their answer, that's where we determine whether or not somebody's going to move forward in our process or not." Be authentic and demonstrate strong ethical reasoning.
Technical Interviews – Show What You Know:
Brush up on fundamentals: Depending on the division, be ready for questions on accounting, finance, valuation, market knowledge, or coding (for engineering roles).
Market awareness: Stay updated on current economic trends, market news, and geopolitical events. Being able to discuss these intelligently shows engagement.
Asking Thoughtful Questions – Your Curiosity Counts:
Prepare a list of insightful questions: This demonstrates your genuine interest and engagement. As Tung advises, "That's the best way to prove that you've done your research."
Focus on learning and culture: Ask about the team, the day-to-day responsibilities, mentorship opportunities, or the firm's culture. Avoid questions easily found on their website.
Step 5: Network Strategically – Building Connections
While not a formal step in the application process, networking can significantly enhance your chances.
Informational Interviews: Reach out to Goldman Sachs professionals (alumni from your university, connections on LinkedIn) for informational interviews. Learn about their roles, experiences, and advice.
University Career Fairs & Events: Attend Goldman Sachs recruiting events on your campus or virtually. These are excellent opportunities to meet recruiters and employees.
LinkedIn – Your Professional Platform: Optimize your LinkedIn profile, connect with relevant professionals, and engage with industry content.
Important Note: Networking should be about genuine curiosity and building relationships, not just asking for a referral. Authenticity is key.
FAQs: Your Quick Answers to Common Queries
Here are 10 frequently asked questions about Goldman Sachs internships, with quick answers to guide you:
How to stand out in the Goldman Sachs internship application process?
Focus on tailoring your resume with quantifiable achievements, write a highly personalized cover letter, prepare thoroughly for online assessments, and practice behavioral and technical interview questions using the STAR method.
How to improve my chances of getting an interview at Goldman Sachs?
Strong academic performance, relevant extracurricular activities, leadership roles, and demonstrating a genuine interest in finance and Goldman Sachs through your application materials are crucial. Networking can also help.
How to prepare for Goldman Sachs online assessments?
Utilize online platforms to practice numerical, verbal, and logical reasoning tests, as well as situational judgment tests. Familiarize yourself with the typical question formats and time limits.
How to answer behavioral questions in a Goldman Sachs interview?
Employ the STAR method (Situation, Task, Action, Result) to structure your answers. Focus on demonstrating transferable skills like teamwork, problem-solving, leadership, and resilience, aligning them with Goldman Sachs' values.
How to prepare for technical questions in a Goldman Sachs interview?
Review fundamental concepts in finance, accounting, valuation, and market knowledge. For engineering roles, brush up on data structures, algorithms, and relevant programming languages. Stay updated on current market trends.
How to network effectively for a Goldman Sachs internship?
Attend university career events, connect with Goldman Sachs employees on LinkedIn for informational interviews, and demonstrate genuine curiosity about their roles and the firm. Focus on building authentic relationships rather than just seeking referrals.
How to tailor my resume for a Goldman Sachs internship?
Highlight relevant coursework, projects, and experiences that align with the specific program you're applying for. Use action verbs and quantify your achievements whenever possible. Keep it concise and professional.
How to write a compelling cover letter for Goldman Sachs?
Personalize it by addressing it to the specific team/program, clearly articulate why Goldman Sachs and why that specific role, and connect your experiences and skills to the firm's values and the internship's requirements.
How to know when Goldman Sachs internship applications open?
Application periods vary by region and program, but generally, summer internship applications for the following year open in the late summer/early fall (e.g., July/August for the next year's summer program). Check the official Goldman Sachs careers website regularly.
How to demonstrate a strong interest in finance if I don't have much experience?
Highlight relevant academic projects, participation in finance clubs or investment competitions, self-study of financial concepts, reading industry news, and taking online courses related to finance or the specific division you're interested in.
