What to Expect

When it comes to careers on Wall Street, Goldman Sachs is one of the most prominent names in investment banking and financial services. As an international firm with offices around the world, Goldman Sachs also sponsors a significant number of H1B visa applications each year to fill specialized jobs requiring higher education. If you’re considering applying for an H1B sponsorship position at Goldman Sachs in 2024, this comprehensive guide will help you understand the process and what to expect.

Goldman Sachs H1B Sponsorship Overview

The H1B visa program allows US employers to temporarily employ foreign workers with specialized knowledge requiring theoretical or technical experience in fields like science, engineering, and information technology. Goldman Sachs regularly sponsors hundreds of H1B visa applications each year to fill roles across various teams and business units.

Some key points about Goldman Sachs’ H1B sponsorship program:

• Specialty Occupations: Most roles sponsored involve highly complex work like software development, quantitative analysis, engineering, and specialized finance functions. Academic credentials are required.
• Cap Subject: Like all employers, Goldman Sachs is subject to the annual H1B visa cap set by USCIS. They typically apply for the maximum allowable number each fiscal year.
• Job Locations: H1B jobs at Goldman Sachs span major office hubs like New York, London, Bangalore and Tokyo. Telecommuting is rarely permitted on H1B status.
• Multi-Year Transfers: Once sponsored, employees may be transferred between Goldman Sachs offices internationally on the same H1B visa, subject to portability rules.
• Diversity of Candidates: Goldman Sachs recruits H1B talent globally from countries like India, China, Canada, and Western Europe to fill open positions.
• Strong Sponsor: As a large, well-established firm, Goldman Sachs has a strong track record of H1B sponsorship and compliance with immigration regulations.

This overview provides a high-level understanding of Goldman Sachs’ general H1B practices. Let’s explore the process and requirements in more detail.

The H1B Application Process at Goldman Sachs

Overall, the H1B application process at Goldman Sachs follows standard procedures but has some unique aspects due to its size and global footprint. Here are the typical steps:

Submit Resume through Career Portal

Goldman Sachs accepts H1B candidate resumes through their online career portal year-round. No agents or third parties are involved in the direct application process.

Screening and Interview Rounds

If your background matches open roles, expect initial phone screens followed by one or more rounds of virtual or in-person interviews with hiring managers. Technical assessments may also be part of the process.

H1B Requirements Evaluation

If an offer is extended, Goldman Sachs will conduct due diligence to ensure the position and candidate meet H1B requirements relating to education, specialty occupation duties, and necessary credentials before proceeding further.

H1B Case Filing

Upon a successful hire decision, Goldman Sachs assigns dedicated immigration counsel to handle the H1B petition process, including PERM labor certification if required. They aim to file during the initial filing period for the desired start date.

USCIS Adjudication

Once submitted, the H1B petition goes through standard USCIS processing times before approval or denial. Goldman Sachs monitors case status and responds promptly to any USCIS Requests for Evidence (RFE).

H1B Work Start

If approved, the employee can begin work on the validated H1B start date once they have the approval notice (I-797) in hand, usually no later than October 1st each year.

Overall, the H1B process takes 6-8 months from initial application to possible work start. Thorough preparation is needed to meet the stringent eligibility criteria. Next, we’ll look at key requirements in more detail.

H1B Requirements and Eligibility for Goldman Sachs Roles

Understanding H1B eligibility requirements is crucial when pursuing sponsorship from a company the size of Goldman Sachs. Candidates generally need to demonstrate the following:

1. Educational Requirements

A US Bachelor’s degree or higher (or foreign equivalent) is normally required for H1B-dependent specialty occupations at Goldman Sachs. Advanced STEM degrees are preferred in engineering and technical fields.

2. Specialty Occupation Duties

The job duties must involve work requiring theoretical and practical application of a body of highly specialized knowledge in fields like finance, computer science, architecture, engineering, or mathematics.

3. One Year Training or Experience

Candidates should have at least one continuous year of progressive experience or specialized training directly related to the proffered position. A Cap-Gap extension may be needed if you are still enrolled as a full-time student.

4. English Proficiency

Strong English comprehension, reading, and writing ability is assessed based on education background and resume. IELTS, TOEFL, or WES evaluations are sometimes required.

5. US Labor Market Test

Roles designated as H1B-dependent require additional Labor Condition Application (LCA) and PERM labor certification to prove there were no qualified, available US workers for the job when the decision to sponsor the foreign national was made.

6. Validation Period

Most Goldman Sachs H1B applications will target the earliest Oct. 1 start date allowable by USCIS each fiscal year to maximize the six-year total H1B maximum period per individual. Extension or changes to status may be sponsored after that point.

Eligibility is strictly assessed on a case-by-case basis. Meeting all education and experience criteria upfront is crucial when going through the rigorous Goldman Sachs hiring and H1B application process. Let’s review it in more detail.

The Goldman Sachs Onboarding Process

If your background aligns with open roles and you pass all eligibility screens, here is a closer look at typical next steps once sponsored by Goldman Sachs for an H1B transfer or change of status:

Background Checks

Standard pre-employment criminal and credit background screening is conducted by a separate company on Goldman Sachs’ behalf.

H1B Case Management

A dedicated in-house immigration counsel will prepare and submit all necessary Labor Condition Applications (LCAs), PERM filings, and I-129 H1B petitions.

Consular Processing

For employees outside the US, processing at a US Embassy or Consulate for an H1B visa stamp appointment may be required before traveling to start work in the US.

I-9 Employment Verification

Once documentation is in place, you’ll complete Section 1 of the I-9 Employment Eligibility Verification on the first day within three business days of starting.

Benefits Enrollment

Goldman Sachs provides comprehensive health, dental, vision, and other insurance benefits. New hires attend benefits enrollment activities.

Compliance Training

Mandatory training covers the Code of Conduct, Anti-Money Laundering policies, CCPA/GDPR privacy guidelines, and other regulatory topics.

IT Setup and Security

You’ll receive a laptop, login credentials, device security protocols, and complete training on Goldman Sachs systems and infrastructure.

Department Onboarding

Site visits, team introductions, and project onboarding occur under the guidance of your manager and team leads.

Immigration Case Management

Your counsel remains the main point of contact to monitor immigration status and address any issues like extensions or amendments.

The onboarding period normally lasts 4-6 weeks. Thorough preparation and strict adherence to documentation requirements ease the transition. Now let’s cover some common questions.

FAQ about Goldman Sachs H1B Sponsorship

Here are answers to five of the most frequently asked questions:

1. What are the chances of getting picked in the H1B lottery by Goldman Sachs?

As a top sponsor that files more premium cases, Goldman Sachs typically sees a 75-80% selection rate in the random lottery. Having an advanced STEM degree and being currently enrolled in CPT/OPT increases your odds.

2. How long does it take for an H1B transfer at Goldman Sachs?

The full process takes 6-8 months on average: 3 months for the hiring process, 2-3 months for H1B petition preparation/filing by early April, and 1-2 months for USCIS adjudication. July-Sept. is the target start window if selected.

3. What locations are most common for Goldman Sachs H1B roles?

New York City and London have the most openings across various teams. Smaller numbers also exist in Bangalore, Tokyo, and other major Goldman Sachs offices worldwide, subject to immigration portability rules.

4. Can I work remotely on H1B for Goldman Sachs?

No, Goldman Sachs does not sponsor or approve telecommuting arrangements for H1B employees due to compliance requirements that the work location matches what is stated on Labor Condition Applications. You must work from the approved location.

5. Does Goldman Sachs sponsor Green Cards?

Yes, long-term high performers eligible for permanent residency sponsorship may be referred to the internal Green Card process. This is highly competitive and involves PERM labor certification and an I-140 immigrant visa petition filed by Goldman Sachs. Employees need to have worked for at least two years in the role, received strong performance reviews annually, and met any minimum salary requirements set by the firm. Sponsorship timelines can take 2-3 years from PERM certification to permanent residency approval due to current processing delays. Not all H1B transfers will ultimately receive Green Card sponsorship, but it is an option for top contributors who wish to permanently relocate long-term.