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If you thought nailing down a summer internship or associate position was hard, you have no idea how hard it is for Millennials with their sights set on Goldman Sachs. After living through the Great Recession and being burdened with the highest amount of student loan debt in history, broke Millennials all said screw it and applied for jobs in investment banking. We’re not talking just a handful of applications either – Goldman Sachs received 250,000 applications for summer or entry-level analyst positions, which is 40% higher than the number of applications they received last year.
To every Gen-X’er out there complaining about unemployed Millennial liberal arts majors with no motivation or skills, I’m sorry, but I didn’t hear about a quarter of a million of you applying for jobs with the most prestigious bank in the United States. So sure, some of us are lazy and some are baristas, but that certainly isn’t the defining stereotype of our generation – we’re saddled down with tens of thousands of dollars of student loans and trying to get out from them the only way we know how, which sure as hell isn’t drawing foam leaves in lattes. Instead, you can find us at your investment banks, changing the world, and making a shit ton of money while we’re doing it..
[via Business Insider]
Image via Shutterstock
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Steph W.
Steph W. is a new Master's degree graduate with an intern's salary and six-figure taste. She realizes her expectations far exceed reality, so she spends her days pinning away Loubs she pretends are in her physical closet instead of her virtual one. Her hobbies include attempting to trapping her boyfriend into marriage before he finds out how insane she is and pretending that Black Box wine tastes as good as the kind she could afford when she was gainfully employed. Send her tips for getting out of student debt at recruitchairtsm@gmail.com
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Goldman has a pretty solid track record of changing the world for the worse. Also, the word barista is an Italian word for there is no manufacturing base in this country anymore.
Yeah in Italian, “barista” literally translates to “gender studies major.” Isn’t learning fun?
I think there’s also a Webster’s Dictionary third definition that states “listener of Arcade Fire and wearer of scarves in the summer.”
Also, looking at their Glassdoor, reported salaries for entry-level positions are WAY lower than I thought they’d be. Unless promotions run rampant among Analysts, I don’t know that it’d be worth it other than to have it on the resume.
I’m sure bonuses are nice
I got a job offer from GS last year that would put me in Salt Lake City and the salary is not what you would expect but the bonus still puts you well above average.
Yeah, I guess that wouldn’t account for bonuses. That would explain some things.
also 90 percent of banks are back office roles which distort the glass door numbers. Actual bankers are making close to 150k right out of undergrad and 250k out of MBA. you work alot, but still its gross.
For IB first year analyst base pay is $85k and bonus would probably put you in the ~$130k all in range
Automotive manufacturing – direct and tier one. The line between “foreign” and “domestic” practically doesn’t exist anymore. And the only reason I know this is the large scale spray and pray I did with my resume last summer.
I have huge respect for people who abandon the status quo of going to a 4 year college in order to study a trade. Plumbers, mechanics, roofers. These people make up the backbone of our society and provide a real service. My best friend is an electrician and he makes a damn good living crawling around in other people’s attics and underneath their porches.
Especially welding, robotics, and PLC maintenance. Study these in a vocational school, be willing to travel and get on with a good company, and you’ll make six figures before you’re 30. It’s not unusual to see technicians making more money than engineers in some companies.
PLC’s and sensing are the future in the tech industry. The PLC guy at my company gets sent out all over the country to test and calibrate/fix the units and he makes more than I’d like to know because I pretty much want to throw up.
Don’t feel bad one bit. Try graduating in 2008 when the economy literally imploded. Figure it out.
Fuck, I have a degree in finance and accounting I don’t feel qualified to even apply to GS. Gotta respect their hustle though.
I mean shit, I busted my ass doing engineering in college and even with that a lot of jobs are tied to manufacturing and thus susceptible to all sorts of fun things. Pretty much el fucko’ed no matter what you get a degree in