Goldman Sachs replaces campus interviews with video

June 23, 2016 10:24 pm Published by

Goldman Sachs replaces campus interviews with video

  • 23 June 2016
  • From the section Business

Goldman Sachs signImage copyright
Reuters

Goldman Sachs is scrapping face-to-face interviews on university campuses in a bid to attract a wider range of talent.

The US investment bank will switch to video interviews with first-round undergraduate candidates from next month.

Each year the bank hires about 2,500 students as both summer and full-time analysts.

Goldman hoped the move will allow it to find students who do not attend top-tier US universities.

Edith Cooper, a Goldman spokesperson, said: “We want to hire not just the economics or business undergraduate but there is that pure liberal arts or history major that could be the next Lloyd Blankfein.”

Mr Blankfein, the bank’s chief executive, went to Rutgers, an institution that is not part of the elite group of US universities known as the Ivy League.

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Getty Images

Image caption

Goldman Sachs chief executive Lloyd Blankfein did not attend an Ivy League university

Chief operating officer Gary Cohn went to the American University, also outside the Ivy League.

Goldman recruits from 400 colleges and universities globally and 225 in the US.

The bank will still have a presence on college campuses, but planned to use it promote other opportunities. It will still conduct second-round interviews in person.

Better candidates

The shift will not affect business schools or professional hires, but is part of a broader move by Goldman to use technology in the hiring process.

The new method will include structured interviews, which the bank said will allow for greater comparisons between candidates and “more objective and informed hiring decisions”.

Goldman is also experimenting with personality questionnaires, which it feels may help to predict how successful a person will be at the firm.

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