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Overview
 
About Us
Overview
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OVERVIEW

The Goldman Sachs Group, Inc. is a leading global financial institution that
delivers a broad range of financial services across investment banking,
securities, investment management and consumer banking to a large and
diversified client base that includes corporations, financial institutions,
governments and individuals. Founded in 1869, the firm is headquartered in New
York and maintains offices in all major financial centers around the world.


OUR PURPOSE AND VALUES

We advance sustainable economic growth and financial opportunity. Our purpose
comes to life through our four core values: Client Service, Excellence,
Integrity, and Partnership.


PEOPLE AND LEADERSHIP

Our people are our greatest asset – we say it often and with good reason. It is
only with the determination and dedication of our people that we can serve our
clients, generate long-term value for our shareholders and contribute to the
broader public. Learn more about Our People, Diversity and Inclusion, and our
Business Principles and Standards.


COMMITMENT TO CLIENT SERVICE

For more than 150 years, a culture of teamwork and client service has defined
our firm. Today, nearly 40,000 Goldman Sachs colleagues work together to serve
our clients and communities around the world, building upon a rich history of
innovative ideas from extraordinary people.


CULTURE OF INNOVATION

Today, nearly 40,000 Goldman Sachs colleagues work together to serve our clients
and communities around the world, building upon a rich history of innovative
ideas from extraordinary people.

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What We Do
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OVERVIEW

We deliver a broad range of financial services across investment banking,
securities, investment management and consumer banking to a large and
diversified client base that includes corporations, financial institutions,
governments and individuals.


OUR PRODUCTS AND SERVICES

Across our divisions, digital platforms, and services, our clients and customers
have access to the resources and reach of a unified global firm to help them
achieve their goals.


INVESTMENT BANKING

Provides advice and services to help organizations with mergers and
acquisitions, financing and other transactions.


CONSUMER & WEALTH MANAGEMENT

We work with clients to achieve investment goals and financial well-being and
bring an innovative approach to traditional consumer banking activities.


ASSET MANAGEMENT

We provide investment management solutions across all major asset classes to a
diverse set of institutional and individual clients.


GLOBAL MARKETS

Providing clients with insight, risk management and execution.


RESEARCH

Our Global Investment Research division provides original, fundamental insights
and analysis for clients in the equity, fixed income, currency and commodities
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DIVERSITY & INCLUSION

Our people are our greatest asset – we say it often and with good reason. It is
only with the determination and dedication of our people that we can serve our
clients, generate long-term value for our shareholders and contribute to the
broader public.


COMMUNITY ENGAGEMENT

Learn how we put our people and capital to work helping women build businesses,
entrepreneurs create jobs, volunteers improve their communities and help solve
environmental issues.


SUSTAINABILITY

The firm’s approach to sustainability is founded on two intersecting areas of
impact: helping to accelerate the climate transition and helping to advance
inclusive growth. These are the areas where we can have the most material
impact.

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Explore by Topic


OVERVIEW

Goldman Sachs economists and experts share insights on macro trends shaping the
global economy.


TALKS AT GS

Goldman Sachs convenes leading thinkers to share insights and ideas shaping the
world.


EXCHANGES AT GOLDMAN SACHS

Exchanges at Goldman Sachs is a podcast where experts from around the firm
discuss developments shaping industries, markets and the global economy.


TOP OF MIND

Allison Nathan of Goldman Sachs Research dives into macro developments that are
top of mind for investors, executives and policymakers.


ARTICLES

Our articles provide an in-depth exploration of markets, sustainability,
technology disruption and economics, with experts inside and outside of Goldman
Sachs.


GOLDMAN SACHS RESEARCH

Goldman Sachs Research features original insights on the economy, markets and
industries, drawn from research teams around the world.


EXPLORE BY TOPIC

See all our topics that may interest you.

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OVERVIEW

At Goldman Sachs, we think who you are makes you better at what you do.


POSSIBILITIES STORIES

See how we are making things possible for our people, clients and communities.


OUR PEOPLE

Meet our people and learn more about our commitment to diversity.


DIVISIONS

Goldman Sachs provides a range of investment banking, investment management and
securities services for our clients. These services are delivered by teams
working across multiple divisions.


STUDENTS

At Goldman Sachs we turn ideas into reality for our clients and communities
around the world.


PROFESSIONALS

We look for experienced professionals with a passion for excellence who believe
in the power of the team, integrity and leadership.


CAREERS BLOG

Stay on top of what’s happening, get information, and learn about our people and
career opportunities.

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GOLDMAN SACHS 2021 SUSTAINABILITY REPORT: PROGRESS THROUGH PERFORMANCE

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COULD IMMIGRATION SOLVE THE US WORKER SHORTAGE?

31 MAY 2022

The biggest gap between job openings and available workers in postwar history is
one of the key reasons that inflation is soaring in the U.S. A drop in
immigration has helped push the gap wider, suggesting an increase in
foreign-born workers could help contain the rise in wages and prices, according
to Goldman Sachs Research.

As pandemic restrictions were lifted, labor demand recovered much more quickly
than the labor force itself. As a result, wages jumped 5.5% during the past
year, according to Goldman Sachs’ Wage Tracker. If this pace continues, the
Federal Reserve would have a difficult time achieving its longer-run inflation
goal of 2%. Labor participation is expected to pick up in the U.S., adding as
many as 1.5 million workers over the coming year, but economists at Goldman
Sachs predict that will leave a sizable jobs-workers gap of around 1 million.



Fed Chair Jerome Powell recently noted that the drop in foreign-born workers
coming to the U.S. has rippled through the employment market. Immigration slowed
in the U.S. between 2019 and 2021 amid the spread of COVID-19 and policy
changes, leaving the labor force about 1.6 million workers smaller than it would
have been if it had stayed on its pre-pandemic trend. And while green card
issuance and temporary work visas have rebounded recently to roughly their
previous levels, immigration rates would need to increase even more to make up
for the shortfall, Goldman Sachs Research shows.

The COVID health crisis was part of the reason for the decline in immigration,
but Trump administration policies, from visa bans to lower caps on refugees,
also played a part. Under the new administration, the pace of immigration into
the U.S. appears to have returned to what it was before the pandemic, according
to Goldman Sachs Research, as temporary visas and green card issuance have
rebounded, and the cap on refugees has been lifted. But even so, the population
of foreign-born workers is smaller than it would have been without policy
changes and the pandemic, and Congressional Budget Office estimates indicate the
shortfall could increase.

It’s difficult to catch up because U.S. immigration law has numerical limits on
many categories of visas. Broad bipartisan immigration reform appears out of
reach, but smaller changes may have a chance, such as a bill for farm workers or
other temporary jobs.



The Biden administration has some options that could increase immigration
without approval from Congress, such as clearing the administrative backlog of
interviews for visas (by waiving those interviews, for example), redeploying
unused visas from previous years and allowing family members of certain types of
visa holders to work.

Immigration is a top political concern in the U.S., but so is inflation. To get
price increases back to the Fed’s 2% target, the jobs-workers gap in the U.S.
needs to narrow by around 2.5 million, according to Goldman Sachs Research, and
the expected increase in labor-force participation is well short of what appears
to be required. It may be realistic to boost annual immigration by a few hundred
thousand people — making a modest dent in the shortfall — but not by enough to
close it.

When it comes to cooling the labor market, this suggests the Federal Reserve
will have to do the heavy lifting by raising interest rates enough to slow the
economy.


EXPLORE MORE INSIGHTS

23 JUN 2022

HOW THE ECB PLANS TO AVOID FRAGMENTATION AND CONTAIN INFLATION

The euro area economy is starting to look more like the picture in the U.S. and
the U.K. – wage growth is accelerating and inflation seems to be getting
stickier. Those concerns are pushing the European Central Bank to act faster to
tighten monetary policy.

TOPIC: Europe
22 JUN 2022

BATTERIES: THE GREENFLATION CHALLENGE II

In this report, Goldman Sachs Research analysts discuss six key topics about
greenflation that are relevant to investors and increase their battery pack
price forecasts.

TOPICS: Carbonomics | Clean Tech and Renewables | Technology Driving Innovation
21 JUN 2022

EQUITY BEAR MARKET: A PARADIGM SHIFT?

Against a challenging backdrop of sky-high inflation, rising rates and growing
recession concerns, the S&P 500 has had an undeniably grim start to the year,
with the tech-heavy Nasdaq and unprofitable growth companies performing even
more dismally. In this episode of `Exchanges at Goldman Sachs`, host Allison
Nathan turns to three equity market heavyweights — Cathie Wood, founder, CEO,
and CIO of ARK Invest; Cliff Asness, founder and CIO of AQR Capital Management;
and David Kostin, Goldman Sachs chief U.S. Equity Strategist — for their
thoughts on where equities are heading from here and what that means for
investors. This episode is based on Allison Nathan’s `Top of Mind` research
report.

TOPIC: Markets

Explore All Insights


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