The Real Scoop on Video Interviews with Goldman Sachs
The advancement of technology is impacting every industry, and the area of finding and recruiting the best talent is no exception.
As such, Goldman Sachs is constantly looking for new and innovative ways to leverage technology to widen the funnel of potential recruits and make the candidate experience more effective. Pre-recorded video interviewing is one example. It’s worth taking a look at how and why pre-recorded video interviews are used by candidates and the firm.
As part of the application process, selected candidates are invited to participate in a pre-recorded video interview. These can be completed at a time which is convenient for candidates. It gives Goldman Sachs the opportunity to meet more students from a greater number of schools than ever before. Interview questions have been thoughtfully crafted by our Goldman Sachs Human Capital Management team to address core competencies that are associated with long-term success at our firm.
“With video interviews, we are not limited to a set group of schools that we can physically travel to,” says Vicki Tung, Head of Campus Recruiting. “We have found that it helps us tap into a wider and more diverse talent pool, and that many candidates find it a more convenient way to communicate their interest in Goldman Sachs.”
“Contrary to popular myth, all of our video interviews are reviewed by trained human recruiters and colleagues across our firm, and not through an algorithm,” says Vicki.
Susanna, who was hired by Goldman Sachs in 2018 as a summer analyst in the Investment Banking Division, participated in one of the earliest video interviews conducted by the firm. “I thought it was great that I could do my interview from my dorm room. I was able to rehearse a few times which helped ease my nerves,” says Susanna.
“I use video chat all the time to communicate with my family and friends back home in California,” says Conor, who also interviewed by video with Goldman Sachs before joining the firm on the Emerging Markets Sales desk in 2019. “Honestly, it was a pretty easy thing to do—the instructions and online help were clear and the technology was very simple.”
In 2015, the year before the firm rolled out HireVue, our video interview platform, we interviewed students from 643 schools around the world, compared with 1,250 for our most recent incoming class—which is nearly double. Back then, we interviewed fewer than one in five of all our summer analyst applicants by video, while in 2019 we interviewed about one in three.
“We think it’s a win-win for us and candidates,” says Vicki. “We look forward to continuing to evolve our recruiting practices to find the best talent.”