Tressa Schroth is a Finance major with a Global Business Minor set to graduate in May 2020. This summer she interned for Goldman Sachs as a Operations Summer Analyst in Salt Lake City, Utah.
How did you get this internship?
To get this internship I used the leverage of the Eller career coaches as well as other alumni to connect with a recruiter.
What was a typical day like?
My typical day started out around 7am when I checked my emails and caught up on the daily news. After that, a couple hours of my day were spend running 5 reports regarding the days security settlements that were send out to other Goldman offices around the world. After that, I spent a couple of my hours working with 3 other interns on two projects throughout the summer to optimize the firms savings. Towards the end of the day, my team would meet for a huddle to go over what we did that day and what problems came up. The last couple hours of the day were spend sending end of day reports to our other teams around the world updating them on what securities have been opened, closed, pending, etc. My day ended around 5pm.
What was your favorite part of the experience?
My favorite part of my experience was the immense amount of networking that Goldman allowed me to do. Goldman promotes interns to speak with VP’s and managers from any division to learn more about their current job and previous experience. I met with at least 2 people per week to connect and learn about what they did in the office. Even though I was in the Operations division, I was able to meet with individuals in the Finance, Private Wealth, Investment Banking, and Risk divisions. The willingness from these employees to add time in their schedule to talk to interns really shows a lot about the company.
If you worked on a big project, please describe it below:
The big project I worked on this summer was to begin creating a collateral optimizer with 3 other interns. Collateral is when something (cash, bonds, etc) is pledged for a security in repayment of a loan. I researched the acceptable collateral for each exchange used within the Goldman Sachs Securities Division. Once this was done, I entered the information into a data base that we could extract information from. This data base created profiles for each exchange which will ultimately optimize what the best option for the firm. I passed over my work to the rest of my team to send to tech to finish up. When this optimizer is finished, it has expected savings of $24 million for the firm.
What advice do you have for other students looking for a similar internship?
Apply for everything even if you don’t think you are qualified, you never know what will happen. You definitely don’t have to be a finance major to apply to Goldman. I applied on a limb and it ended up working out for me.
How did Eller prepare you for your internship?
The career coaches played a big part in my recruitment process. Once I informed the career coaches I got the interview I was given interview expectations as well as in depth interview prep. Once I started my job, the excel I learned in my Eller classes prepared me for my daily tasks. Everyday I worked with excel to make pivot tables, vlookups and macros to perform further data analysis on my projects.
Anything else you would like to share about your internship experience?
I had a great experience and would be willing to speak with any student looking into applying to Goldman.