Goldman Sachs To Hire 30 percent More Engineers In FY-18
The investment bank visits eight IITs, three IIMs and four NITs; and plans to add three to seven IITs within its bounds this year
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Global finance company Goldman Sachs is relying heavily on engineers to play an important role in the road ahead, as data analytics and automation dramatically transform the way the financial industry does business.
Goldman's Bengaluru office is its second best employer of engineers after its New York headquarters and plans to increase campus hiring by 25-30 per cent this year with the company vying to make a larger push into technology.
Gunjan Samtani, co-chief operating officer, Goldman Sachs, told ET, "Hiring engineers is a top priority for us in India. We are leading the push into innovative technologies like machine learning and data analytics through this talent pool."
Goldman's hiring of engineers from Indian campuses has increased from 120 in 2014 to 250 in 2017. The investment bank visits eight IITs, three IIMs and four NITs; and plans to add three to seven IITs within its bounds this year.
The firm has been engaging actively on campus at IITs through its GS Quantify engineering challenge. Into its fifth year, the programme has seen more than 2,700 students participating till date.
The company has around 9,000 engineers and programmers out of the 33,000 employees globally. The engineers hired at Bengaluru will be taken as specialists with backgrounds in maths, statistics, computers science and engineering. They build financial models, algorithms and other quant solutions like those being built for electronic trading systems, models for risk management as well as those for compliance.
Samtani added, "Within the software development umbrella, we will hire engineers to do core engineering work. This involves software and infrastructure engineering for data, communications, collaboration, as well as client-facing businesses and also for managing our software."