Updated April 2026 · 15 min read · Investment Banking · 45,000+ employees worldwide
| Company | The Goldman Sachs Group, Inc. |
|---|---|
| Headquarters | New York, USA |
| Divisions | Investment Banking, Global Markets, Asset Management, Consumer & Wealth, Engineering |
| Assessment provider | SHL (cognitive), HireVue (video interview), HackerRank (technical roles) |
| Estimated cutoff | 80th-85th percentile (finance graduate norm group — very competitive) |
| Applicants | 250,000+ annually for analyst and summer analyst roles |
Goldman Sachs is one of the most prestigious and competitive employers in financial services. The firm receives over 250,000 applications annually for its analyst and summer analyst programmes, making the selection process extraordinarily rigorous. Understanding each stage — and the specific cutoffs and formats — is essential for progressing.
Stage 1: Online application. CV, education details, and a "Motivations for Applying" letter. Goldman specifically asks for motivations, not a cover letter — focus on why Goldman Sachs specifically, not generic banking interest. Reference specific divisions, recent deals, or Goldman programmes that attract you.
Stage 2: SHL cognitive tests. Full SHL battery — Numerical Reasoning, Verbal Reasoning, and Inductive Reasoning — administered via SHL TalentCentral. The test is proctored and typically must be completed within a 48-hour window. The norm group is calibrated to finance graduates — a very competitive reference population. Based on candidate reports, the estimated cutoff is around the 80th-85th percentile. This is higher than most Big Four firms because the applicant pool is already highly numerate. The SHL numerical reasoning section is critical for Goldman — expect heavy data interpretation from financial tables, percentage calculations, and currency conversions.
Stage 3: HireVue video interview. Pre-recorded video interview: typically 4-6 questions with 30 seconds to prepare and 2-3 minutes to respond per question. Reviewed asynchronously by Goldman recruiters. Questions combine motivational ("Why Goldman Sachs?"), competency-based ("Describe a time you led a team"), and situational scenarios. Some divisions include basic finance or market knowledge questions — have data-supported views on 2-3 current macro themes (interest rates, FX, equity markets).
Stage 4: Phone screen (some divisions). Not all Goldman processes include this — some go directly from HireVue to Superday. Where it exists, it's typically a 30-minute call with an analyst or associate to assess technical knowledge and cultural fit.
Stage 5: Superday. Goldman's final round is a single day of 5-8 back-to-back interviews with bankers, analysts, and senior leaders from across the division. For Global Markets, expect brain teasers, probability puzzles, market-making scenarios (bid/ask quotes), and options basics. For Investment Banking, expect technical questions (DCF, LBO, merger models) alongside behavioural questions. The Superday is where most selections are made.
Numerical reasoning: Goldman's proprietary numerical test consists of 20 questions in approximately 20 minutes. The test focuses on financial data — profit margins, revenue growth, currency conversions, and chart interpretation. No calculator is provided in some versions (paper and pen only), making mental arithmetic speed critical. Topics: percentages, fractions, ratios, data tables, and graph reading.
Verbal reasoning: 10 questions in approximately 20 minutes. True/False/Cannot Say format based on business and financial passages. The passages are dense and time pressure is significant.
Inductive/logical reasoning: Pattern recognition with shapes and sequences. Standard SHL format.
Investment Banking: DCF, LBO, merger model technicals. Market awareness. Recent M&A deals.
Global Markets (Sales & Trading): Brain teasers, probability, expected value. Market views with data support. Options payoff basics.
Asset Management: Portfolio theory, stock pitch, valuation frameworks.
Engineering: HackerRank coding assessment (2 questions, 1 hour 20 minutes). Data structures, algorithms. C++, Java, Python.
Investment banking at Goldman Sachs has the most competitive process in the market — analyst class sizes of 100–300 pulled from 10,000+ applications, so every stage is a hard cut.
Compared to Big 4, Goldman Sachs's aptitude-test bar is higher:
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Providers Goldman Sachs commonly uses during their aptitude and assessment stages.