Goldman Sachs Hired 3% of 313,000 Job Applicants in 2015

Updated on
  • Percentage hired is same as in 2014, web presentation says
  • Number of employees at Goldman Sachs is up 11% since 2012

Goldman Sachs Group Inc. hired 3 percent of the 313,000 people who applied for a job at the firm last year, the same percentage as in 2014.

The figure includes summer internships, the New York-based bank said Tuesday in a presentation at a Credit Suisse Group AG conference in Miami. The number of employees has increased 11 percent since 2012, Chief Executive Officer Lloyd Blankfein said at the conference.

“I pay a lot of attention to this, not just to ensure that we get the best people but it’s also kind of a warning system to how well we are doing as a firm,” Blankfein said. “Do people still want to come to Goldman Sachs?”

The figures suggest Goldman Sachs is still seen as an attractive place to work even as the Wall Street firm has been cited as a symbol of corporate greed in the U.S. presidential campaigns. Democratic candidate Bernie Sanders ran a television ad that singled out Goldman Sachs for its role in the 2008 financial crisis, and he’s mentioned Blankfein personally as an example of greed.

Of those offered a job at Goldman Sachs in 2015, 82 percent accepted, Blankfein said. That’s down from almost 90 percent a year earlier, when the firm accepted 3 percent of 267,000 applicants. The firm employed 36,800 people at the end of December.

Blankfein said he’s changed the makeup of the firm’s employees, adding younger staff in part to save on costs. The number of analysts, associates and vice presidents increased 17 percent since the beginning of 2012, while the number of partners and managing directors fell 2 percent, he said.

In the firm’s fixed-income trading business, headcount has declined 10 percent from 2012, according to thepresentation accompanying his remarks.

(Updates with Blankfein's comment in third paragraph.)
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