HireQuest Inc., President and CEO Rick Hermanns analyzes the state of America’s workforce and divulges the place there’s excessive demand for open-to-work staff.
Goldman Sachs internships are among the many most troublesome to safe within the finance sector, with lower than 1% of candidates getting accepted for the coveted summer season place.
Nonetheless, that did not cease over 360,000 individuals from around the globe from making use of. Solely 2,600 of them, or 0.7%, had been accepted into the 2025 internship class.
Although not inconceivable, the percentages have turn into more and more stacked in opposition to candidates because the applicant pool continues to develop underneath CEO David Solomon’s management.
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Whereas the variety of candidates has grown 15% in comparison with a yr in the past, it has surged greater than 300% since Solomon took the helm in 2018, in keeping with Solomon.
Workplace employees stroll towards the Goldman Sachs headquarters in New York on July 22, 2021. (Michael Nagle/Bloomberg by way of / Getty Pictures)
Final week, the incoming group of interns was welcomed to Goldman Sachs workplaces around the globe, the place they are going to “spend the summer season studying from the agency’s leaders, engaged on essentially the most consequential challenges in finance, and rising as professionals,” in keeping with the agency’s LinkedIn Put up.
Nevertheless, the 2026 class is already being picked. The corporate began the ultimate rounds for candidates, sometimes of their sophomore yr of faculty, making use of to its 2026 class earlier this yr.
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It is not unusual within the monetary sector for interns to face steep odds. As an example, greater than 490,000 candidates utilized for JPMorgan’s 2024 internship, and solely 4,000 had been accepted, which was a lower than 1% acceptance fee, in keeping with a number of stories.
David Solomon, CEO of Goldman Sachs, throughout an interview for “The David Rubenstein Present: Peer-to-Peer Conversations” in New York, on Aug. 6, 2024. (Jeenah Moon/Bloomberg by way of / Getty Pictures)
Citadel, a hedge fund based by Kenneth Griffin, accepted solely 0.4% of candidates for its 2025 summer season intern program, in keeping with Enterprise Insider.
The chances of getting a spot at considered one of these monetary establishments are just like acceptance to be a NASA astronaut. NASA has an extremely rigorous choice course of and an exhaustive listing of necessities. It additionally solely opens its utility cycle each 4 years.
The Goldman Sachs headquarters in New York on July 22, 2021. (Michael Nagle/Bloomberg by way of / Getty Pictures)
In 2020, greater than 12,000 individuals submitted functions to turn into astronauts, solely 10 of whom had been chosen, equating to an acceptance fee of 0.083%, in keeping with The Seattle Instances.
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To be thought of, candidates must already have a grasp’s diploma in a STEM subject, together with engineering, organic science, bodily science, laptop science or arithmetic, from an accredited establishment, have a minimal of three years of associated skilled expertise obtained after diploma completion, or 1,000 Pilot-in-Command hours with not less than 850 of these hours in excessive efficiency jet plane for pilots.
For medical docs, time in residency can depend towards expertise. All candidates should additionally efficiently full the NASA long-duration flight astronaut bodily.
