2023 Goldman Sachs Market Madness: HBCU Possibilities Program Recap
In its third year, the Goldman Sachs Market Madness: HBCU Possibilities Program honored our five-year, $25 million commitment to invest in Historically Black Colleges and Universities (HBCUs) and their students by hosting 150 students from 12 select HBCUs to participate in the immersive, four-month program that culminated in a case study competition. The students, spanning 31 different teams, engaged in weekly educational sessions with 80 Goldman Sachs coaches, who introduced them to the businesses, people and culture of the firm.
“This competition brings the best of Goldman Sachs together, marrying our intellectual capital with our financial capital to really make an impact. We started this program in 2021 as an endeavor to build off of our long-standing relationships with HBCUs. For the last 20 years, Goldman Sachs has had boots on the ground at HBCUs across the country, but we wanted to take our investment to the next level by building stronger relationships with students and thoughtfully paying it forward to the next generation of talent.” – Megan Hogan, Chief Diversity Officer and Global Head of Talent, Goldman Sachs
On April 24, the winning team from Spelman College and four other finalist teams from Texas Southern University, Florida A&M University, Howard University, and Morgan State University joined us at Goldman Sachs headquarters in New York to present a strategic business solution and a plan for how the market may react to their proposed solution to a panel of Goldman Sachs judges as well as Rahquel Purcell, L’Oréal North America’s Chief Transformation Officer, who participated as the client for this year’s case study.
As a result of this program over the last three years, we will welcome 25 Goldman Sachs Market Madness: HBCU Possibilities Program alumni to the firm this summer. We’re proud to have been able to deliver over $15M in funding through direct grants and scholarships for students attending HBCUs as a result of this program.
This year, we had the opportunity to sit down with a few of our past program participants from Spelman College. Keep reading to hear about their experiences and what they’re looking forward to most when they join the firm this summer!
How did you learn about the program and why did it sound like a good opportunity to you?
Anisah: I learned about the program through a flyer that someone sent in the Honors Program GroupMe at Spelman. I decided to apply to explore different applications of my math major. I love problem-solving and wanted to learn more about finance (especially since my focus before this was engineering), and Goldman Sachs was a very reputable company. Additionally, I was impressed at the firm’s initiative to recruit and support HBCUs.
Imani: I learned about the program through our Career Center during COVID. I really enjoy solving problems, so a Case-Study Competition, regardless of the industry, would be a fun change of pace from my classwork. Additionally, I wanted to try something new, and wanted to see if I could apply my way of thinking in the world of finance.
What did this program mean for you and your HBCU?
Anisah: This program was fantastic for me, my teammates and our HBCU! We were able to win $1 million to support financial aid for our fellow Spelman sisters; it helped to create a connection between Goldman Sachs and Spelman, and it allowed us to be able to bring more representatives from Goldman Sachs to support us at not only Spelman but also our fellow Atlanta University Center (AUC) schools including Morehouse College and Clark Atlanta University. Because we were helped and supported, it inspired me to try to help and support my classmates. During the school year, I helped host and plan four events that brought Goldman Sachs employees of all levels, from analysts to vice presidents, to our institutions. Overall, the extent of this could not have been possible if it was not for the Goldman Sachs Market Madness: HBCU Possibilities Program and our win. I plan to continue this partnership and return to my HBCU to help other underclassmen come to Goldman Sachs.
As a program participant, how do you think the program prepared you the future?
Imani: Participating in this program definitely prepared me for the future. My role in the project consisted of financial projections for our solution, which entailed many models I had no idea how to build. Thanks to our Coach, Nina, she walked us through Income Statements and Cash Flows, which made the process less intimidating. Now, I understand where to look to evaluate the health of businesses, but also problem-solve when given a task I lack the context for.
Anisah: The program taught me some of the background knowledge I needed for Goldman Sachs and helped me improve my networking skills. Throughout this program, our coach Nicole helped us improve our presentation skills, be more comfortable in interviews, and introduce us to several leaders at the firm. This program helped improve both my technical and soft skills.
Any advice for students considering applying for this program and/or an internship at GS?
Imani: My advice for students considering applying to either this program or an internship is to remain flexible and open-minded. Goldman Sachs is a very big firm with so many routes, avenues, and people to meet! I am not a traditional major in this field, yet I applied my processes for breaking down huge research assignments to complete pitches or projects during my internship. Over the summer, or during the Goldman Sachs Market Madness: HCBU Possibilities Program, show them what you know and how you think, the jargon and concepts will come soon after.
Anisah: I recommend both. The Goldman Sachs Market Madness: HBCU Possibilities Program was a great introduction to Goldman Sachs and provided a seamless transition into the internship. During the training, it was good preparation for what to expect when working full-time. The internship allowed me to shadow people and learn more about what a day in life looks like in different roles. The internship also introduced me to the culture of Goldman Sachs, which is very mentorship based and relies on a solid network.
What are you excited to make possible at Goldman Sachs this summer?
Anisah: I am very excited to meet the rest of my analyst class! I look forward to learning more about the business and my team as I switch from shadowing to doing the work. When I return, I can’t wait to see the community I made during the internship again. Most importantly, I look forward to helping continue bridging the gap between HBCUs and Goldman Sachs to allow more people to make this possible!
Imani: This summer, not only do I look forward to growing as a young professional at the firm, but also getting involved with more DEI and community service projects at the firm!
Be sure to visit our careers site for information on when applications to next year’s Goldman Sachs Market Madness: HBCU Possibilities Program will open.