Team: FICC and Equities (Sales and Trading). Global Banking & Markets (Public) / FICC and Equities (Sales and Trading) enables our clients to buy and sell financial products, raise funding and manage risk (source)
This is Goldman's 2027 EMEA off-cycle internship in London in FICC & Equities, inside the Global Banking & Markets division, corporate title 'Seasonal'. The firm says the Off-Cycle Program varies in length depending on the programme and the university, is for undergraduate students, and gives you training and real responsibilities alongside its people. Source
The firm labels the business 'Global Banking & Markets (Public) / FICC and Equities (Sales and Trading)' and says it enables clients to buy and sell financial products, raise funding and manage risk, making markets and facilitating client transactions in fixed income, equity, currency and commodity products. Source
FICC is fixed income, currencies and commodities - the rates, credit, FX and commodity desks. Equities is cash equities, equity derivatives and the financing around them. Sales owns the client: you cover a set of funds or corporates, bring them ideas and take their orders. Trading owns the risk: you quote a price, you hold the position, and the P&L is settled by the close. It is a job with a scoreboard, which is why the people who like it really like it.
The '(Public)' in Goldman's own label for the division is the wall. Markets works from public information and is kept away from the deal information Investment Banking holds, so this is not a route into banking by another door. It also decides the interview: a trade you can argue with a number on it, mental arithmetic and market awareness, rather than a valuation model.
The team
The firm says it makes markets in and clears client transactions on major stock, options and futures exchanges worldwide, and that through its global sales force it maintains relationships with clients, receives orders and distributes investment research, trading ideas, market information and analysis. Source
28 people have held London roles in Goldman Sachs' FICC division since 2018 - one half of the business this seat sits in.
29 people have held London roles in Goldman Sachs' Equities division since 2018, the other half, and the larger of the two.
An off-cycle intern goes onto one desk, because there is no cohort programme to rotate you through - the page promises training and real responsibilities and mentions no orientation, no class and no rotations. Which desk you land on is therefore the whole job, and it is decided before you start rather than at the end of a summer. Ask what it is before you accept: a seat on FX cash and a seat on credit derivatives share a division and nothing else.
The firm
779 people have held London roles at Goldman Sachs as a whole since 2018, across banking, markets, research and asset management.
What this posting signals
This is the 2027 off-cycle, not the 2027 summer class. The start sits outside the summer window and the length is set by your course, which makes it the natural route for a placement-year student, anyone on a four-year degree with a year in industry, or a student whose term dates never fitted a June-to-August block. Fewer people can take it, so fewer people apply.
No deadline is stated. Markets off-cycle seats are filled when a desk needs cover and a suitable person is in front of them, so the posting being live is the only signal available. Apply now and treat it as open until it disappears.
Are you eligible?
The Off-Cycle Program is for undergraduate students. You may apply to up to four separate business and location combinations in any given recruiting year; any additional application is automatically withdrawn, and to add one you must first withdraw a current application that has not been turned down. Creating multiple email addresses to apply to more opportunities is not permitted. Source
The page says undergraduate students and nothing else - no degree subject, no graduation window, no right-to-work line - so every one of those filters is applied in the form rather than on the page. Sort out the sponsorship question first: four applications is the entire year across every Goldman business and city, and a wasted one is expensive.
Ready to apply?
No deadline given, so it closes when the places fill.
Most junior seats are filled by someone writing to the right person before a portal
fills up. Here is one of the people Goldman Sachs publishes, in full.
1 person. Their role, the page the firm names them on, and how to reach them
The route that always works, and the one they are most likely to read.
The firm publishes this person, and publishes no address we could read for anyone here, so there is no pattern to show you either. Search their name and firm on LinkedIn and write from your own account.