When Jill Borst was a Goldman Sachs intern in 1999, the firm didn’t have an office in Salt Lake City. Now, Borst leads the office of more than 3,000 employees.
She’s in good company as a senior leader who started as an intern — around 40% of the firm’s partners started as campus hires.
Goldman’s newest class of interns in the Americas begins their program today as Wall Street expectations are being reshaped by AI. Landing a summer spot at the firm is no easy feat, and Goldman accepted less than 1% of intern applicants last year. Those who do make it in might be kick-starting more than their careers, as Borst knows: she met her husband at an event to fix fences in Brooklyn’s Prospect Park when they were both interns.
Jacqueline Arthur, the global head of human capital management, said this summer’s interns are well-positioned to use AI to their advantage, and to teach full-time employees new skills while learning themselves.
“Pairing AI fluency with judgment, communication, and critical thinking will help an intern stand out,” Arthur said in a statement. Doing so, she added, ensures an intern is using the tool responsibly and can articulate their thought process.
Business Insider gathered advice from six senior leaders, four of whom started as interns themselves.
What’s one thing you wish you knew about Goldman’s culture before starting?
Anthony Arnold, partner in private equity: Over-communicating, sharing ideas, and speaking up is so important. Good news, bad news, networking — all feed into the culture that is built on information, collaboration, teamwork, and diversity of perspectives.
Joseph Persky, cohead of Americas Prime Financing: Early in my career, I had the mindset that if I worked hard, kept relatively quiet, and became an expert in my space, good things would come. Expertise and technical knowledge are certainly major factors, but I underestimated how important it was to be able to communicate with peers and senior leaders.
What makes Goldman’s culture truly unique is the firm’s ability to bring those people together to solve problems and create value. That collaborative instinct has been a clear defining characteristic of anyone who succeeds in a summer program or a longer career at the firm.
Fill in the blank: My intern will impress me if they ___________ ?
Arnold: Didsomething they weren’t asked to do. Being proactive and entrepreneurial is key. Raising your hand and bringing ideas to the table is helpful and will get noticed.
Aasem Khalil, head of the Dallas office, global head of investment banking client services and the cross-markets group: Don’t hesitate to ask a lot of questions. Curiosity is key!!! The interns who stand out are the ones who take advantage of every opportunity to grow.
Kerry Blum, global head of the equity structuring group in private wealth management: Listen and focus on the quality of their interactions with people, not just the quantity of time they spend with them.
Christiane Macedo, chief operating officer for engineering: Specifically for our Engineering interns, their ability to connect their technical task both to the engineering strategy and to the broader commercial impact it will have. It is one thing to write clean code; it is another to understand how that code helps us progress on technical and functional objectives, manage risk, or provide liquidity to a market.
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What’s one essential item you wouldn’t think you need? And one item you’d think you need, but actually never use?
Macedo: Essential: A running log of impact. In a high-performance culture like ours, visibility is earned through sustainable results. As an Engineering intern, you won’t remember the specific bug you squashed in week two when you reach your final review in week 10. Keep a daily digital log of the problems you solved, the stakeholders you engaged, and the commercial footprint of your work.
Arnold: As an intern, one thing you rarely need is experience. The people around you aren’t expecting you to walk in with all the answers; they’re expecting you to walk in curious. Sit in on the call, shadow the meeting, ask why something was done a certain way.
Khalil: It’s helpful to have a genuine interest in what’s going on in the world, the industry, and the market. Access to market data, news flow, and industry insights gives you a stronger understanding of your work and allows you to contribute more thoughtful questions, analysis, and perspectives.
Something you don’t need is a degree in economics or finance. As a political science major, I’m living proof.
What’s your advice for an intern about asking for help when confused on the job?
Macedo: Follow the 15 Minute Rule. If you are stuck, spend at least 15 minutes trying to solve it yourself— document what you tried, what failed, and what you searched for. That way, when you do ask for help, you can say, “I’ve tried X and Y, and I think the issue is Z. Can you point me in the right direction?” This shows respect for your manager/mentor’s time and demonstrates your problem-solving skills.
Blum: Take a moment to process and assess the situation first. That small pause often makes your question sharper and the answer you get back more useful, while also showing consideration for your colleagues’ time.
Borst: The Goldman Sachs AI Assistant is certainly a great first stop, but there is no substitute for turning to the person sitting next to you.
Persky: I’d also encourage you to reframe how you think about asking for help: it doesn’t signal confusion or lack of understanding. It’s a good way to solicit feedback from others and give you a more diverse perspective. It should be part of your daily routine, not a last resort.
What’s an experience in your city that interns shouldn’t miss this summer?
Arnold: Jet-skiing on the Hudson River around NYC!
Borst: Gather some friends and visit the Utah Olympic Park in Park City on a Friday or Saturday Night. You can watch local Olympians and US National Team skiers fly 60 feet in the air before landing in the training pool at the Flying Aces Freestyle Show. If you feel inspired by their high-flying adventures, then you can stay and enjoy the zipline, alpine slides, and extreme tubing, or take in an outdoor concert as the sun sets.
Khalil: In Dallas, head to the Perot Museum, Bishop Arts for dining and shopping, or catch a Texas Rangers game. In NYC, go see a show, walk the High Line, visit The Met or the MOMA, or watch a game at Yankee Stadium or Citi Field.
Persky: The World Cup starts in June, and New York is an amazing place to be. It’s a unique opportunity to explore different neighborhoods and boroughs and experience how different cultures watch and celebrate the games. During the day, you can also find some of the large televisions on the trading floors showing the games, which adds to a fun work experience.
Interning on Wall Street this summer or have a tip? Contact this reporter via email at [email protected] or Signal at alicetecotzky.05. Use a personal email address, a nonwork WiFi network, and a nonwork device; here’s our guide to sharing information securely.
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