What you need to work for Goldman Sachs

Just being able to yell out “buy!” or “sell!” will not cut it at any investment bank. In fact, the evolution of trading has made skills in science, technology, engineering, and mathematics (STEM) just as important as an understanding of economics if you want a job in a financial services firm on Wall Street. That said Paul Russo, global co-COO of the equities franchise in the securities division at Goldman Sachs, the world's best-known investment bank. 

Picture: Goldman Sachs

In the most recent episode of “Exchanges at Goldman Sachs”  – a series of podcasts where people from across the firm share their insights on developments shaping markets, industries and the global economy – Russo said that people coming into the firm these days need to be rather tech savvy.

"That doesn’t mean having a good economic framework isn’t valuable," Russo said. "That doesn’t mean econ majors aren’t valued, but I think everybody coming in now just is a little more technology enabled and a little more thoughtful." In fact, a recent report by CB Insights, which dissects the investment bank's strategy, said 46 per cent of the bank's recent job listings were in technology. The reason for that lies in trading: Today, this sector relies increasingly on the use of technology. In some cases, according to Russo, since a trader has 20 to 30 algorithms to deal with.

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