CEO of Goldman Sachs reveals what the bank looks for when hiring

While the frightening statistics may seem daunting to potential new employees, Solomon explained some commonalities among successful applicants.

While he listed more classic desirable qualities – people who are hardworking, smart and “believe in excellence,” Solomon emphasized want to see Toughness.

“People want to win. People have shown they have grit and determination,” he said. “The ability to succeed, but also when they fail, to get back up, dust themselves off and keep going.”

While the investment giant often recruits from top schools, Solomon said intelligence isn't the only trait that gets you a spot at the prestigious Wall Street bank. In a letter to her 2024 summer intern cohort, Solomon advised them to “leverage your unique skills and experiences.”

“Of course, intellect is part of it,” Solomon told Rubenstein. “But there are also other, softer things that make people really successful in the long run.”

Solomon said the firm is looking for a “skills package” for its broad range of jobs, noting that Goldman Sachs' 46,000 employees cover roles other than coveted investment banking positions, such as traders, and have 10,000 engineers.

“We have a very diverse group of people coming through here, and people are going in different directions,” he said. “Some people are outstanding, and others are doing different things.”

And how can you be successful once you're accepted? Some of Goldman's summer interns recently spoke to BI about this and shared that building and maintaining a strong network within the firm is an important key to success.

“If you want to be the next best trader on the street, you have to learn from the best,” says Robbie Stankard, a student and athlete at Colombia University who interned in Goldman's sales and trading department for two summers.

The investment bank received a record 315,126 applications for its 2024 internship program, but only awarded 2,700 places – just under 0.9%.

Stankard told BI that Goldman’s global co-head of banks and markets, Daniel Deesgave his colleagues some advice that they took to heart: “He said, 'The people to your left and right will be the most powerful network available to you as you progress through your career.'”