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This sounds like marketing baloney. I would bet most of that "engineering" headcount is actually just analytical headcount. not a bad thing, but it's not what
by tryitnow 9y ago
This sounds like marketing baloney. I would bet most of that "engineering" headcount is actually just analytical headcount. not a bad thing, but it's not what we used to call engineering.
This is part of an ongoing trend to describe everything as some form of "engineering."
Honestly, if I'm going to Goldman for M&A - I want a human relationship. That relationship may be buttressed by research and analysis using "big data" and "machine learning" - but that's not engineering, that's just good research using the latest useful tools.
I'm only addressing the actual investment banking component of GS. Sure, the consumer banking stuff requires technology and "engineering" but there's absolutely nothing new about this, it's just that consumer banking has lagged horribly behind in consumer-friendly technology.
Not much to see here.
- xkjkls 9y agoGoldman makes about half its revenue from market execution, which is basically an entirely engineering driven business. Only about 20% of it's revenue come from the "investment banking" sort of equity and debt underwriting type of activity.
- bboreham 9y agoInvestment banking is not just advice. They also finance deals (i.e. come up with a few billion to make it happen) and execute - buy all the outstanding shares, or sell new ones in your IPO. And since those kinds of deals don’t come along every day, they maintain the capability by executing as broker and dealer all the rest of the time. (I know, I’m simplifying a lot. Hope it helps get the idea across)
- dgellow 9y agoTo be honest Software Engineering looks like child play when compared to actual engineering work. Imagine the left-pad incident in a different engineering domain.