Back office jobs are seemingly hated around here, but would that still be true at a firm such as Goldman? Would having GS on your resume help lead to moving out of the back office in a year or two?
No. Plus, if I recall correctly, you would have to work in Jersey too…
back office = back office, unfortunately. GS has a rep as being the best at alot of things, but who really says “man GS has a sweet back office team, I wish one of those guys could join my PM team…” It would probably give you a good career path within the back office though if that’s your thing… managers in that business do not have a bad life.
Front office anywhere is better than the back office at a top firm (if your goal is front office). That said, if you can’t break through to the front office now, taking a back office job at a top firm is not career suicide. I jumped from the back office at a very reputable firm to the sell side. Even though I was in the back office, I think the firm name gave me a certain level of credibility to get in front of the right people and ultimately land the front office job.
Back office at GS is better than back office anywhere else. Plus it gets your into GS, which is never a bad thing.
Rambozo Wrote: ------------------------------------------------------- > Back office jobs are seemingly hated around here, > but would that still be true at a firm such as > Goldman? Would having GS on your resume help lead > to moving out of the back office in a year or two? where is it located btw?? …
HoldSideAnalyst Wrote: ------------------------------------------------------- > Back office at GS is better than back office > anywhere else. Plus it gets your into GS, which > is never a bad thing. Agreed, and even more important, it get’s the prestigious name on your resume. I’m not a fan of the back office but I’d take having GS on my resume over any other firm. If you work hard in other areas- networking, CFA, etc., the company name can help you move into the front office of another firm. Now I know most of your are saying, people don’t care about a name…it’s what you do. Yeah but being able to use the name is to your benefit. When you add phrases such as, “my tenure at Goldman Sachs” or “while working at Goldman Sachs” to your cover letter it sparks the recruiter’s interest and makes them immediately look at your resume to see what you’re all about and to check out your experience. The moral of the story: the job duties won’t get you to the front office, but the name will help. With that being said, don’t take the back office job at GS over a front office job at a less prestigious firm.
Is this the option desk back office job at GS?
Listen, there is nothing wrong with having a career in the back office. You can make decent money and work 40 hour weeks. BUT, if you wish to eventually transition to the FRONT OFFICE, it will be EXTREMELY challenging. Not impossible, but very very tough. There are zero skills that you learn in the back office that will help you in the front office. Moreover, you won’t have any advantage since you are “already in the company”. This subject has been beaten to death, but I’m just stating the truth. If you want more insight into this, go onto ibankingoasis and search for “back office”
yea…it is possible to move from BO to FO but remember that you are also competing with lots of FO people in the bank that also want to move to your particular division. getting into a BO position is one way to get into the company but the transition is probably harder than you think. it has as much to do with your performance in the back office as it does with your tenacity, networking skills, and luck.
Thoughts on Goldman Sachs - Private Wealth Management as a Financial Analyst? Would this allow a move to FO? see posting: The Private Wealth Management Group of Goldman Sachs develops and manages relationships with wealthy individuals and families, advising them on ways in which to build and protect their financial assets through equity, fixed income and alternative investments. Financial Analysts provide support to the client teams in executing trades, monitoring portfolio holdings, prospecting for new relationships and servicing clients. Principal Responsibilities: Execute equity, derivative, fixed income and fund trades Monitor equity and fixed income markets to provide market color to client and team members Relay GS research to clients and Private Wealth Advisors Indicate clients’ interest for syndicate deals Prepare client review and prospect pitch books Assist in asset allocation process for clients and prospects Prospect for new client opportunities Assist clients with various inquiries Experience/Skills: Ability to work in fast paced environment and think clearly under pressure Excellent communication skills Strong organizational skills Team player Detail-oriented Knowledge of Windows technology (Outlook, Excel and Word) College degree Series 7 and 63 required (must be obtained within first six months of employment)
newsmaker Wrote: ------------------------------------------------------- > back office = back office, unfortunately. GS has > a rep as being the best at alot of things, but who > really says “man GS has a sweet back office team, > I wish one of those guys could join my PM > team…” > Funny 
Fratboy_4Life Wrote: ------------------------------------------------------- > Thoughts on Goldman Sachs - Private Wealth > Management as a Financial Analyst? Would this > allow a move to FO? > > see posting: > > The Private Wealth Management Group of Goldman > Sachs develops and manages relationships with > wealthy individuals and families, advising them on > ways in which to build and protect their financial > assets through equity, fixed income and > alternative investments. Financial Analysts > provide support to the client teams in executing > trades, monitoring portfolio holdings, prospecting > for new relationships and servicing clients. > > Principal Responsibilities: > Execute equity, derivative, fixed income and fund > trades > Monitor equity and fixed income markets to provide > market color to client and team members > Relay GS research to clients and Private Wealth > Advisors > Indicate clients’ interest for syndicate deals > Prepare client review and prospect pitch books > Assist in asset allocation process for clients and > prospects > Prospect for new client opportunities > Assist clients with various inquiries > > Experience/Skills: > Ability to work in fast paced environment and > think clearly under pressure > Excellent communication skills > Strong organizational skills > Team player > Detail-oriented > Knowledge of Windows technology (Outlook, Excel > and Word) > College degree > Series 7 and 63 required (must be obtained within > first six months of employment) Didn’t you get this from Craigslist? I just saw this listing a little while ago and am planning to apply for it.
ruhi22 Wrote: ------------------------------------------------------- > Didn’t you get this from Craigslist? I just saw > this listing a little while ago and am planning to > apply for it. Yes, craigslist and monster in Boston.
I’m a recent finance grad so you can take what I say w/ a grain of salt, but I don’t like this job. I don’t see you gaining much finance knowlege (besides earning your licenses). This is much more an admin/secretary job, then servicing the actual financial instruments or processes. In college I interned for a financial consultant and these duties sound exactly like what I did (everything except executing trades). Sounds like pretty much a middleman between Financial Advisors and clients. I’m not bashing the job, it might make sense for where you are in your career and where you want to go? Can you explain a little more? (ie- not just move into the front office but move into a specific role/department)
I apologize, I did not mean to imply anything about a specific job posting (although it appears there is one floating around out there). I was more curious about what it would take for a back office job to be “worth” taking, if your plan was to move into the FO at some point, sooner rather than later, of course.
In the past 5 years at my company not a single person got a front office job straight out of college. At least in large buy side shops those types of positions are “destination” jobs, after one has had 4-8 years in the industry + CFA or MBA or whatever. If you are in a firm with a good culture there is enough respect to go around, even to the BO. It is understood that the smartest people in those jobs (i.e. pass a couple CFA exams) are going to get interesting opportunities.
yep agree with above… I know of at least 5 Derivatives traders who started off in the BO. It’s tough but you can do it. One had been in the BO for 8 years and had another job offer. The trading desk realised they could have a few issues if the guy left so they gave him a gig on their desk. The others joined after university and had lucky breaks.
TPain88 Wrote: ------------------------------------------------------- > I’m not bashing the job, it might make sense for > where you are in your career and where you want to > go? Can you explain a little more? (ie- not just > move into the front office but move into a > specific role/department) I’m a few years removed from college. I can get into a top 20 MBA program based on gmat, grades, work experience. However, due to other obligations, I will apply to part-time MBA programs in the Boston area within the year. So, work experience is a major factor in my career path. I work in a sales support role at a major bank. I support Financial Advisors in sales strategies, positioning, etc. I have the 7 and 66. The above posted position would be considered a move in the right direction for someone in my department. (if you want to remain in Financial Planning) However, I am attracted to the listing because it seems to be a departure from straight sales to a bit of analysis (market color, asset allocation.) Goldman also carries bit better name cache than my current firm. Took Level I in June, did well in many areas, but will retake in Dec. I really enjoyed the Fixed Income readings and probably would excel in FI roles. Ultimately, I am asking what will FO people find attractive about the role?