Internship in an Investment Bank Essay

Internship is a system of on-the-job training for professional jobs. It is a utilization related attainment experience for individuals who wish to develop detention on work experience in a certain occupational field. more or less detainship is temporary assignments. As much(prenominal) my medical intern too was temporary for a termination of angiotensin converting enzyme month. My association with Goldman Sachs was during my semester vacation.To me internship is to combine possible action with matter-of-fact work experience. As such my intern period was of great assistant in that sense. Gener totallyy the objectives of internships argon* set ab turn up skills in the application of theory to practical work situation.* Aptitude test for a particular c ber.* Develop and pursue air ethics.* Increase on the sense of responsibility.* prospect to understand informal organizational interrelationships.* heighten employment opportunities* Develop skills and techniques directl y applicable to their careers.* Provides inside exposure to the structure, operations and last process within the organization without a commitment to a permanent employer. close to of the obvious advantages an internship offers allow in strengthening create verbally and oral skills, helping to make contacts to happen upon future employment, to enhance and strengthen the interns resume. Gain an increased ken of skills, attri yetes, personal qualities and values. Guides a student to queue up out what it is to identical to work in a disdain environment.However duties which arent structured either non profuse to do or random stake work or nothing to do with the supposed internship whitethorn result in just a waste of condemnation and valuable resources. Some sequences the intern whitethorn not have enough time to learn the nuances of the industry and no prudish guide or a learn to guide the individual through the process. It may overly result as a burden financially and mentally. About Goldman Sachs history18691930Goldman Sachs was founded in New York in 1869 by the German-born Marcus Goldman. The company made a advert for itself pi starering the use of commercial paper for entrepreneurs and was invited to essence the New York Stock Ex win over (NYSE) in 1896. In the early 20th century, On December 4, 1928, it launched the Goldman Sachs Trading Corp. a closed-end fund. 19301980In 1930, Sidney Weinberg assumed the role of senior partner and shifted Goldmans focus away from work and towards enthronement affirming. It was Weinbergs actions that helped to restore or so of Goldmans tarnished reputation. On the back of Weinberg, Goldman was tercet advisor on the Ford ride Companys IPO in 1956, which at the time was a study(ip) coup on Wall Street. chthonian Weinbergs reign the libertine besides started an investment funds research fragment and a municipal bond department. It also was at this time that the unbendable became an early trai lblazer in risk arbitrage. 19801999On November 16, 1981, the bulletproof made a move by acquiring J. Aron & Company, a commodities calling slopped which merged with the indomitable Income division to cause cognise as Fixed Income, Currencies, and Commodities. J. Aron was a player in the coffee and princely markets, and the current CEO of Goldman, Lloyd Blankfein, joined the incorruptible as a result of this merger. In 1986, the tight formed Goldman Sachs appendage focus, which manages the majority of its mutual specie and hedge funds today. Since 1999One of the largest make upts in the crockeds history was its own IPO in 1999. The decision to go public was one that the partners debated for decades. In the end, Goldman decided to offer a small portion of the company to the public, with somewhat 48% still held by the coalition pool 22% of the company was held by non-partner employees, and 18% was held by retired Goldman partners. Goldman Sachs OverviewThe Goldman Sac hs Group, Inc. is an Ameri corporation multinational bulge bracket investment banking and securities household that engages in global investment banking, securities, investment perplexity, and other financial services in general with institutional invitees. Goldman Sachs was founded in 1869 and is headquartered at two hundred West Street in the let down Manhattan area of New York City, with add-onal offices in international financial centers. The inviolable provides mergers and acquisitions advice, underwriting services, addition centering, and prime brokerage to its clients, which include corporations, governments and individuals. The satisfying also engages in market making and occult equity deals, and is a original dealer in the United States exchequer security market. It is recognized as one of the most prestigious investment banks in the world.As of 2009, Goldman Sachs employed 31,701 people worldwide.Goldman Sachs is shared into three stockes units* coronation B anking* Trading and tip coronations* addition Management and Securities go investiture bankingInvestment banking is divide into two divisions and includes financial Advisory (mergers and acquisitions, investitures, corporate defense activities, restructuring and spin-offs) and Underwriting (public offerings and private placements of equity, equity-related and debt instruments). Goldman Sachs is one of the leading M&A advisory firms, oftentimes topping the union tables in terms of movement size. The firm gained a reputation as a white knight in the mergers and acquisitions domain by advising clients on how to avoid bitter takeovers, moves generally viewed as unfriendly to shareholders of targeted companies. Goldman Sachs, for a long time during the 1980s, was the only major investment bank with a unmitigated policy against helping to initiate a hostile takeover, which increased the firms reputation immensely among sitting management teams at the time. The investment banki ng segment accounts for close to 17 percent of Goldman Sachs revenues. The firm has been snarled in brokering deals to privatize major highways by selling them to foreign investors, in addition to advising state and local governments including Indiana, Texas, and Chicago on privatization projects.Trading and principal investmentsTrading and point Investments is the largest of the three segments, and is the companys goodish center. The segment is divided into four divisions and includes * Fixed Income The occupation of beguile rate and realization products, mortgage-backed securities, insurance-linked securities and structured and derivative products * Currency and Commodities The trading of currencies and commodities * Equities The trading of equities, equity derivatives, structured products, options, and futures contracts * star Investments merchant banking investments and funds This segment consists of the revenues and turn a profit gained from the Banks trading ac tivities, twain on behalf of its clients known as period trading and for its own account known as proprietary trading. Most trading done by Goldman is not speculative, just rather an attempt to profit from bid-ask spreads in the process of acting as a market maker. On average, around 68 percent of Goldmans revenues and profits are derived from trading.Asset Management and Securities ServicesAs the name suggests, the firms Asset Management and Securities Services segment is divided into two components Asset Management and Securities Services. The Asset Management division provides investment advisory and financial planning services and offers investment products ( mainly through separately managed accounts and commingled vehicles) across all major asset classes to a different group of institutions and individuals worldwide. The unit primarily generates revenues in the form of management and incentive fees. The Securities Services division provides clearing, financing, custody, s ecurities lending, and reporting services to institutional clients, including hedge funds, mutual funds, and pension funds. The division generates revenues primarily in the form of interest rate spreads or fees.About operations segmentoperations is at the nucleus of Goldman Sachs. For each trade agreed, e actually parvenue product launched or market entered, every relations completed, it is operations that enables business to flow. trading operations is a dynamic, multi-faceted division that partners with all areas of the firm to deliver banking, sales and trading and asset management capabilities to clients around the world. In addition, operations provides infixed risk management and control, preserving and enhancing the firms assets and its reputation. The operations division represents almost 14% of the firm, with more than 4,500 employees across the globe.Operations spans across all product lines and markets where business is conducted. Each area of business offers diff erent opportunities that leverage a common centre skill set. While at that place may be a group that interests you, it is not necessary to identify the group you would like to join when applying.Clearing Operations provides clearing, accomplishment and custody services for all major trading products across 75 exchanges. Our intention is to deliver superior client service, liberal product offering and scalable engineering science to our global client base and liberty trading businesses, while minimizing useable risk. Our clients include hedge funds, asset managers, governments, corporates, broker dealers, Goldman Sachs prerogative traders, other professional investors and market markers.Derivatives Operations is accountable for ensuring efficient and accurate transaction processing across a large range of products. Generally, the products supported are interlacing instruments that require close alignment with the business. A key focus for the organization is establishing toilsome risk management procedures and controls to ensure the firm and our clients are properly protected. Derivatives Operations is at the forefront of shaping and driving change in the industry with the ultimate tug of delivering greater accuracy, control and efficiency for our clients and our business.Investment Management Operations delivers asset management and wealth management capabilities to clients around the world. We are a multi-faceted group that partners with all areas of the Investment Management Division to support evolving markets and business requirements. Alongside that vital service lecture role, Investment Management Operations provides essential risk management and control.Liquidity & substantiating Operations (LCO) manages the operational elements for daily bread and butter and liquidity of the firm, oversees the firms hire strategy and overall cash flows and positions, and also performs key functions related to counterparty risk management, client trans parency, and product and pricing information. In addition to the traditional line functions, LCO is home to Operations Technology Strategy and Reference data Strategy, both of which focus on strategic process and technology solutions for the division and often the broader firm.Regulatory & Tax Operations is responsible for over 500 non-financial reporting and observe functions to over 400 regulators and exchanges. The group enhances the firms regulatory and tax transaction and position data and operational controls and develops outperform practices and standards for processing, infrastructure, and change management. The group aims to leverage expertness consistently across regions and entities in localize to demonstrate supervision to regulators and provide efficiency, data accuracy, and transparency around controls.Risk & understand Operations supports the firm by ensuring the honor of books and records, assessing regulatory requirements, and interfacing with regulators freq uently. In addition, the group provides the firm with critical control indicators that assess economic, regulatory, and operational risks, while providing oversight of the Operations Division Risk Framework.Securities Operations supports the Securities, Investment Management and Investment Banking Divisions of the firm. This group manages key relationships for the bank and infrastructure providers, on boarding of institutional and prime brokerage clients, and assists in the coordination of outlet of new financial product.Work do and ExperienceI did my summer internship in the Operations Division of Goldman Sachs. My project was primarily based on corporate visiting card reconciliation process. Being an intern to the office, there was a helping to be learnt and a lot more to be implemented, but the people at GS were really accommodative and instinctive to give the interns the required topographic point and time.Goldman Sachs has, a completely flat organizational structure and everyone is very helpful and you can reach out to almost anyone and he/she will be more than willing to help. The Program is very efficiently carried out and theres a lot to learn. The firm has its own In-House University where there are innumerable courses on fiscal Markets, corporate Finance, Investment Banking that we needed to learn from. Everything you do and suggest mostly goes into Production i.e. merry so obviously you will be having a hands-on experience on things which are actually going to be implemented. All things said, there is deadline within which the work needs to be done.Goldman Sachs was a good shot to achieve out of this internship change Problem Solving, Industrial Exposure, Understanding of Financial Markets. At Goldman Sachs, everyone is encouraged to take on more responsibility and stretch themselves. lot are very professional and are always there to help when needed. This makes it a fun place to work even though the nature of work is very challenging.