Financial Analyst, Investment Banking Division
A first-year TMT analyst seat at Goldman is a two-year commitment that pays back for the next twenty years, provided you go in with a clear exit thesis rather than the drift into private equity that half the class defaults to. The listed base is the class-wide base; the range that matters is the bonus, which historically clusters tightly around eighty to one hundred and ten percent of base for full-year TMT analysts in good deal years, and it is directly correlated with staffing luck. Our members who have landed here in the last three cycles came from three archetypes: a target-school undergraduate with a strong bulge-bracket summer, a lateral from a middle-market bank with a live TMT reputation, or a non-traditional candidate with a differentiated technology background (former engineer, former founder). The last is where Marqee's edge is largest — Goldman TMT is quietly aggressive about hiring one or two lateral analysts a year from operating backgrounds because it gives the team industry credibility on client calls. If you are that candidate, the narrative that works is not "I want to learn finance"; it is "I ran the P&L for X product and want to run the transaction that creates ten of them." Your strategist will help you rebuild your résumé so that operating experience reads as deal-adjacent. The interview loop is technical heavy — expect three modeling rounds, one accounting round, and two behavioral rounds — and the modeling test is timed and graded.
About the role
Goldman Sachs is hiring a Financial Analyst, Investment Banking Division on the Investment Banking — TMT Coverage team, reporting to Vice President, TMT Coverage. This is a full-time role based on-site in New York, NY, with base compensation between $110,000–$125,000 plus equity (Year-end bonus (target 80–110% of base)).
TMT (Technology, Media & Telecom) coverage is one of the three largest revenue-producing coverage groups inside GS IBD. The team advises technology CEOs and boards on M&A, IPOs, follow-on offerings, and PIPE transactions. First-year analysts are staffed across live processes rather than a single sector — you will touch semiconductors, software, digital media, and gaming in your first eight months. Deal team structures are the traditional VP → Associate → Analyst pyramid, with a senior banker (MD) as the client relationship owner.
Culture is in-office five days a week at 200 West Street. The hours match the reputation — expect 80–100 hour weeks during live processes and 55–70 in quiet stretches. Analyst class rotations do not exist inside TMT; you are placed in the group and stay for the two-year program. The staffer allocates weekly, and the ‘good staffing’ game is real: your bonus tracks the deals you were on more than the reviews you got.
Day-to-day: Excel modeling (three-statement, LBO, merger, DCF), PowerPoint pitch decks, FactSet and CapIQ for comps, Bloomberg for market context, and the internal GS deal database (Marquee). The two-year program includes formal training weeks in September/October and mid-year, plus mandatory Series 79/63 licensing paid for by the firm.
What we need
Required
- Bachelor's degree from an accredited institution, graduating May/June 2026 or already graduated with 0–2 years of banking/finance experience.
- Demonstrated quantitative aptitude — a strong GPA (3.5+) with coursework in finance, accounting, economics, or a quantitative discipline.
- Modeling fluency: three-statement, DCF, LBO, and merger models built from a blank sheet without a template.
- The ability to work 80+ hour weeks during live processes while producing accurate work under real deadline pressure.
- Series 79 and Series 63 eligibility (unlicensed candidates enter a firm-paid licensing program in the first 90 days).
Preferred
- Prior summer internship at a bulge-bracket or elite-boutique investment bank, ideally in a coverage or M&A group.
- A technology-adjacent background — CS coursework, engineering internship, or operating experience at a technology company.
- Public equities or private-markets exposure (equity research, PE, growth equity, corp dev).
What actually filters candidates: the modeling test is timed and graded on formula transparency and accuracy, not speed. Candidates who use hardcoded numbers or opaque named ranges bounce even if the answer is right. Your strategist will run you through two live-timed model builds before the on-cycle round.
Compensation
Marqee's compensation team benchmarks every listing against private offer data from our placed-candidate network. Here is how the offer breaks down and where the real negotiation levers sit.
| Component | Range | Marqee read |
|---|---|---|
| Base salary | $110,000–$125,000 | Class-wide, non-negotiable. GS matches the market band to the dollar; any offer outside this range is unusual and worth flagging to a strategist. |
| Year-end bonus | 80–110% of base ($90K–$140K) | Discretionary but tightly banded by deal-flow year. Ranking is 1–5 quartile; top-bucket analysts get the ceiling, bottom-bucket get 60%. Directly correlated with staffing luck and staffer relationships. |
| Signing bonus | $10K–$15K (returning intern) $25K–$50K (lateral / competing offer) | Returning-intern signing is fixed. Lateral signing is real if you have a competing full-time offer in hand — GS will match or beat. |
| Series 79 / 63 licensing | Firm-paid ($3–5K value) | Firm covers study materials, exam fees, and paid study time. Do not treat this as a lever — it is standard. |
| Meal + transport stipend | Dinner allowance after 8pm, car home after 9pm | Real quality-of-life factor at the hours you will work. Track it — the tax-adjusted value is $8K–$12K/year. |
| Benefits | Full medical, 25 PTO days (unused in practice), 401k with 4% match | PTO is technically 25 days; TMT analysts historically take 8–12. Model the effective vacation, not the stated policy. |
Interview process
Based on Marqee-network placements at Goldman Sachs in the last twelve months, expect a loop with the following shape. The exact order can vary but the round types are stable.
Online application + HireVue (async)
Standard GS application plus a one-way video interview. Three behavioral questions with 30 seconds prep and 2 minutes answer time. Rehearse aloud on camera — screen tone and pacing get scored.
First-round Superday screen (30 min)
Two back-to-back interviews with associates or VPs. One behavioral ("why banking, why GS, why TMT") and one technical (accounting, valuation basics, walk through a DCF). Wrong technical answers do not disqualify; unstructured answers do.
Modeling test (2 hrs, timed)
Blank Excel workbook, one company case with financials. Build a three-statement model with an integrated DCF or LBO. Graded on formula transparency, error-checking, and print-ready formatting — not just the final answer.
Superday — 3 to 5 interviews (half day, on-site)
Rotating pairs of VPs, MDs, and one Analyst. Mix of technical (accounting, LBO paper, merger math) and behavioral (deal walkthrough, why-TMT). Each interviewer submits a ‘yes/no/strong yes/strong no’ card to the staffer.
MD final round (30 min)
Single conversation with a senior MD in the TMT group. Scored on maturity, client-presence, and whether they can see you in front of a CEO in 18 months. Bring one sharp point of view on a recent tech transaction.
Offer + on-cycle sign (24–72 hr window)
Offers move fast in on-cycle. GS expects verbal accept within 24–72 hours; competing-offer negotiation happens in that window or not at all. Your strategist stays on-call for that conversation.
Marqee editorial for this role
If you are looking at this listing and asking whether the IBD Analyst — TMT track is the right next step, here is the same set of resources your strategist would send you on a first call.
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Frequently asked questions
Is this Goldman Sachs Financial Analyst listing still open?
As of 2026-06-20, yes. Marqee refreshes listings weekly and pulls any role that closes. The stated validThrough date is 2026-08-05; roles at this level occasionally close earlier if a strong candidate signs.
What does Goldman Sachs actually pay for this role?
The public band is $110,000–$125,000 base plus equity (Year-end bonus (target 80–110% of base)). Our strategists benchmark against private offer data in our network; if you are prepping for the loop with Marqee, we share the private comp benchmark on our first call.
Can Marqee help me apply to this specific role?
Yes. Members get a strategist-tailored resume and cover letter for this listing, a recruiter-outreach plan for the specific team, and interview preparation for the Goldman Sachs loop. We have relationships with recruiters at Goldman Sachs.
How competitive is the Goldman Sachs interview loop?
The loop is among the more rigorous at this level of the market. Marqee members prepare with mock interviews from people who have placed candidates at Goldman Sachs in the last two years — see the Interview Process section above for the specific rounds.
What if I do not have all the listed qualifications?
Job listings are wish lists. If you have most of the technical requirements and a strong narrative around the gap, apply. Our strategist team can help you decide whether this is a stretch worth chasing or a role to skip in favor of a closer fit.
Does Marqee take a commission from Goldman Sachs?
No. Marqee is paid by our members, not employers. We do not receive placement fees from Goldman Sachs or any other company; there is no incentive conflict.