Goldman Sachs Opening Tech Jobs in Cheaper Cities

There was some bad news for Goldman Sachs technologists (‘engineers’) in the firm’s last set of quarterly results. Alongside Goldman’s plan to keep on investing in the Marquee platform that allows clients to interface directly with its systems, its (related) promise to automate sales and trading, and its intention of shifting 7,500 technology and operations jobs into the “business,” Goldman wants to get more of its tech staff out of New York and London.

“We’re… migrating more of our efforts to locations like Bengaluru, Warsaw, Dallas and Salt Lake City,” said CFO Stephen Scherr in the firm’s first quarter investor call.

Goldman wants to use ‘shared platforms’ across the business, he added. Like JPMorgan, GS is trying to get a handle on its huge communications and technology budget ($286 million in the first quarter), and one way to do this is to cut duplication.

There are signs that a de-duping strategy is already underway. And, guess what? The de-duping process is creating jobs at Goldman’s huge campus in Bangalore, India.

Goldman is currently advertising six Bangalore roles in a team known as the “Foundational Technology Group,” which develops common solutions for managing the firm’s infrastructure. This overlaps with an “Enterprise Technology Operations” unit, which uses “Big Data processing, machine learning, real-time streaming analytics” to create “scalable production services” to help eliminate surplus human input from the bank’s systems.

Goldman Sachs didn’t respond to a request for clarification on the location and relocation of its technology jobs, but the chart below suggests there’s no need to panic just yet. Compared to when we last looked in 2017, the firm is actually advertising a greater proportion of its engineering jobs in London and New York; it’s Warsaw and Bengalaru that have missed out. Although Scherr’s statement suggests this may not last.

What kinds of technology jobs is Goldman hiring for in each of its locations? What would it take to land an engineering job in New York right now (for example)? In part, it’s about being in the right place at the right time for the right price; it looks like Goldman advertises the same job in multiple locations and sees what turns up. There are also some trends, though, with some cities attracting more of a certain type of job than others.

Dallas: Technology Risk and Vendor Engagement 

Dallas was where Goldman started building out its technology team for Marcus, its consumer bank. However, most of the new Marcus roles seem to have migrated to India, leaving Dallas with technology risk roles and something called the Technology Vendor Engagement Team (TVET), which deals with external tech vendors. 

London: Web Applications, Data Roles

The Goldman Sachs London office has its share of tedious-sounding tech jobs working on things like ‘controllers engineering’ in the finance function, but there are also some gems to be found. The firm is hiring for a Structured Finance Investment and Lending (SFIL) technology team, which is building the technology for the next generation of external web-based applications (such as Marquee), using the open-source Python framework Dash. It’s also looking for a Linux engineer to work on its electronic trading platform, and for people to work in its new ‘Data Intelligence organization.’

New York: Research and Development

The most exciting technology jobs at Goldman Sachs’s New York office are in the firm’s R&D team. Reminiscent of JPMorgan’s ‘research scientist’ jobs under Manuela Veloso, these are pseudo-academic roles whose occupants will get to, ‘push the boundaries in FinTech’ using artificial intelligence. Goldman is also hiring for a project-focused ‘Accelerate’ tech team in New York, which sounds ever so slightly like Google’s moonshot division, and is focused on innovating and ‘building brand new business ideas for GS.’

New Jersey and Salt Lake City: Data and Goldman Sachs Wealth Management

Salt Lake City has Goldman Sachs private wealth management tech jobs, plus roles on projects such as the “digital experience team,” which enables interaction at conferences. New Jersey has several data roles, including one on the ‘data lake’ beloved of Marty Chavez.

This article originally appeared in eFinancialCareers.

2 Responses to “Goldman Sachs Opening Tech Jobs in Cheaper Cities”

  1. Carla Ross

    I would love to work for Goldman Sachs in Chicago! I have some tech skills and would just enjoy the opportunity to work, coding in python, sas use sql, doing statistical analysis. I would work cheap too…