Hello! I'm Yusuke, a career advisor at Alpha Advisors!

Recently, there has been a surge in university students consulting me about careers in global asset management firms and hedge funds. Among these companies, Goldman Sachs Asset Management (GSAM), the industry leader, continues to maintain strong popularity.

GSAM is a massive asset management company with one of the world's largest assets under management. It attracts talented candidates because it offers opportunities to work across diverse investment areas beyond just stocks and bonds, including real estate, private equity, and hedge funds.

The global financial market is currently seeing significant capital inflows from overseas investors targeting undervalued Japanese equities, alongside rising interest rates, a weaker yen, and expectations of structural reforms. This creates tremendous opportunities for global asset managers like GSAM! Riding this favorable trend, GSAM and other international asset management firms are strengthening their recruitment efforts. We anticipate expansion of their Japanese offices and increased hiring quotas.

In this environment, GSAM will be hosting recruitment events for 2027 graduates! Many students at Alpha have already begun preparing, making this an excellent opportunity for those who want to "gain an early advantage!"

<GSAM Recruitment Events for 2027 Graduates>

・Virtual Company Information Session (All Departments): April 9th (Wed) 16:00-16:50
　Application Deadline: April 2nd (Wed) 23:59

・Goldman Sachs Asset Management Virtual Insight Day: April 15th (Tue) 18:00-19:00
　Application Deadline: April 9th (Wed) 23:59

・GSAM Virtual Insight Day (For Student Athletes): April 25th (Fri) 18:00-19:00
　Application Deadline: April 20th (Sun) 23:59

GSAM, which has produced many successful candidates through Alpha in the past, is well-known for its extremely challenging interview questions. Students are struggling significantly as the questions have become much more difficult compared to when I was a student. In fact, many candidates come to us for professional guidance after being rejected by GSAM...

To help candidates secure positions at these highly competitive firms, Alpha offers specialized financial preparation programs such as our Investor Development Program and Asset Management/Hedge Fund Advisory services. These comprehensive programs cover everything from macroeconomic analysis to capital market report analysis/writing, DCF modeling, financial modeling construction, and fundamental analysis!

Through these preparation strategies, we've helped candidates secure positions not only at GSAM but also at BlackRock, Fidelity, Point72, and other top firms!

In this article, we provide a comprehensive guide to GSAM's company profile, characteristics, recruitment information for both new graduates and experienced hires, common interview questions, and salary details! If you're interested in joining a global asset management firm, working at GSAM, or exploring the investment management industry, please read through to the end!

Overview of Goldman Sachs Asset Management Japan

Company Profile and Strengths

Goldman Sachs Asset Management (GSAM) is the asset management division of the Goldman Sachs Group, operating in Japan as Goldman Sachs Asset Management Co., Ltd.

The Japanese entity was established in 2002 through the merger of an investment advisory office founded in 1990 and an investment trust management company established in 1996. In July 2023, it expanded its business by absorbing NN Investment Partners Japan. Currently headquartered in Tokyo (Toranomon Hills), it provides asset management services to clients in Japan.

GSAM's strengths lie in its global network and diverse investment services. With key offices in New York, London, Tokyo, and Singapore, it leverages its network spanning over 30 countries worldwide to deliver research, investment management, and client services on a global scale.

The company manages a wide range of asset classes, including both traditional and alternative assets:
・Equities
・Fixed income
・Currencies
・Money markets
・Hedge funds
・Private equity
・Real estate

This broad range of investment solutions and global expertise allows GSAM to offer Japanese clients diverse investment opportunities both domestically and internationally.

In terms of assets under management (AUM), GSAM ranks among the industry leaders. As of June 2020, it managed approximately 203.6 trillion yen, and following the acquisition of NN Investment Partners in 2022, it became one of the world's largest asset managers with about $2.8 trillion (approximately 300 trillion yen) in assets under management. By the end of 2024, its global AUM reached approximately $3.14 trillion, maintaining its position among the top five largest asset managers worldwide.

This scale advantage allows GSAM to deploy highly specialized teams across each asset class, giving it a competitive edge in areas such as access to portfolio companies and product development capabilities. While the Japanese entity is legally separated from other divisions of the group, it works closely with global resources to deliver services based on a client-first business approach.

Business Characteristics in Japan

GSAM Japan primarily manages funds for domestic institutional and individual investors, investing in both Japanese and global assets.

The company focuses on two core business areas:
(1) Investment trust management providing mutual fund products to individuals through securities companies and banks
(2) Investment advisory services offering discretionary investment management and advisory services to institutional investors such as pension funds and insurance companies

With substantial domestic capital (individual financial assets exceeding 1,800 trillion yen) and increasing demand for asset management solutions amid ultra-low interest rates and an aging population, GSAM views Japan as a growth market. The firm differentiates itself through long-term investment propositions and access to global investment platforms.

For institutional investors, GSAM delivers value through alternative investments and global asset allocation proposals which have traditionally been less available in Japan. For individual investors, it aims to expand its Japanese client base by offering reliable investment products.

①New Graduate Recruitment

Available Positions

New graduate recruitment is conducted on a department-by-department basis, with the Goldman Sachs Asset Management division being one of the recruiting departments. Potential job positions include:

(1) Sales (Client Service): Sales and marketing for institutional investors and distributors
(2) Asset Management (Investment): Supporting fund managers and analysts, developing investment products
(3) Operations: Back-office roles supporting sales and investment functions

New employees typically rotate through multiple departments within the Asset Management division before being formally assigned based on their aptitude. This system allows them to develop a broad range of skills while determining their area of specialization.

However, GSAM's new graduate hiring primarily focuses on sales and client service positions. The investment team operates with a small, elite group of experienced professionals, making it rare (though not impossible) for new graduates to be immediately assigned to investment roles. This also depends on the company's staffing needs at the time.

Additionally, the Japan office functions as a branch of the global organization, with investment management often conducted in Hong Kong or Singapore. Therefore, the main function in Japan is "gathering assets from Japanese investors," which explains the emphasis on hiring for sales positions.

Desired Candidate Profile

Beyond the basic requirements of strong analytical ability, initiative (leadership), and global communication skills (including English proficiency), Goldman Sachs consistently values diverse talent with teamwork capabilities and an entrepreneurial spirit.

The firm does not focus on specific academic backgrounds or majors, instead embracing a diversity-oriented hiring approach that welcomes talented individuals regardless of gender or nationality. Given the company's team-oriented culture, the ability to collaborate effectively and achieve results through cooperation is highly valued.

Selection Process

The new graduate selection process typically follows this sequence:

(1) Online entry and submission of application forms
　・Candidates may apply to up to three divisions. Application forms may be shared across divisions.
(2) Written examination (SPI or other aptitude tests)
　・To be completed online within a designated period.
(3) Recorded web interview (HireVue)
　・Includes self-introduction, motivation for applying, and division-specific questions requiring responses within 2 minutes. Questions change annually.
(4) In-person or online interviews (approximately 10-20 rounds)
　・Sequential interviews with division staff (from junior to executive levels). A distinctive feature of GSAM's process is the high number of interviews, as candidates must meet with everyone in the division and receive unanimous approval for an offer.
※Internship participants may receive preferential treatment in certain selection stages.
※Group discussions may sometimes be included in the process.

Potential Interview Questions

(1) Behavioral Interview Questions
Behavioral questions assess your actions and judgment through past experiences. Using the STAR method (Situation, Task, Action, Result) is effective when answering these questions.

・"What was your most challenging experience and how did you overcome it?"
・"Tell me about a time when you achieved a goal as part of a team."
・"Describe a situation where you had to learn a new skill in a short period."
・"What have you learned from failure?"
・"How did you handle a situation with tight deadlines?"
・"Tell me about a time when you collaborated with someone who had different opinions."
・"What are your long-term career goals? Why is GSAM the best place to achieve them?"

(2) Technical (Financial Knowledge) Interview Questions
Technical questions for new graduates focus on basic financial and economic knowledge, logical thinking, and data analysis aptitude. Despite having no professional experience, candidates face challenging questions, making preparation essential.

・"What market trends are you currently following?"
・"Explain methods for equity valuation."
・"What are the advantages and disadvantages for Rakuten if interest rates rise?"
・"What recent financial news has caught your attention and what impact has it had?"
・"Explain the difference between bonds and stocks in a way a third-grader would understand."
・"How would you handle a transaction that benefits our company but isn't beneficial for the client in the long term?"
・"List as many causes of yen depreciation as you can think of."
・"What's your opinion on ESG investing?"

Salary and Benefits Guide

While the compensation structure may differ somewhat from the Investment Banking or Trading divisions, it remains highly competitive within the financial industry. Annual compensation typically includes base salary plus bonuses and stock compensation, with significant variation based on performance.

・Analyst: Base salary of approximately 6-10 million yen, total compensation of 8-15 million yen including bonuses.
・Associate: Base salary of 10-15 million yen, total compensation of 15-25 million yen.
・Vice President: Total annual compensation of approximately 25-40 million yen.
・Managing Director: Total annual compensation of 50 million yen or more, potentially higher depending on performance.

Compared to the investment banking division, the asset management division is said to offer a better work-life balance, though both share the expectation of high performance from early career stages.

Mid-Career Recruitment

Current Job Openings and Positions

Goldman Sachs Asset Management Japan is recruiting for various mid-career positions as part of its business expansion. The main job categories include:

・Portfolio Manager/Fund Manager (managing domestic and international equities, fixed income, etc.)
・Analyst (supporting the managers above)
・Sales (Relationship Manager/Sales VP) (handling institutional investors and financial institution channels)
・Product Strategist/Product Planning (investment trust product design and marketing)

In recent years, GSAM has strengthened recruitment of specialized talent in alternative investment areas such as real estate and private equity. With the expansion of their client base, they are also actively hiring Client Service (Coverage) Representatives responsible for maintaining and deepening relationships with existing clients.

Overall, investment management, sales (client relations), and product development form the core of mid-career recruitment efforts.

Required Skills and Experience

Mid-career recruitment places strong emphasis on immediate contribution, requiring specialized skills and practical experience for each position.

For example:
・Investment roles: Investment experience and track record in the relevant asset class
・Sales roles: Client negotiation experience in the financial industry and networks with institutional investors

Common requirements across positions:
・Advanced English proficiency (reading, writing, conversation): Study abroad experience or communication with foreigners is essential
・Deep knowledge of asset management and market understanding: Checked through past experience and interviews, making career changes without relevant experience generally difficult
・Problem-solving abilities and project management skills: Alignment with GSAM's desired candidate profile

Expected Compensation and Benefits

Compensation for mid-career hires varies significantly by position and level but ranks among the highest in the industry.

・Associate level (4-6 years of experience): Annual income of approximately 14-30 million yen
・Vice President (VP) level: Annual income exceeding 20 million yen
・Managing Director (MD) level: Annual income of 50 million yen or more (potentially exceeding 100 million yen depending on performance)

It's important to note that while extremely high compensation can be expected, this comes with commensurate accountability for results and stringent performance evaluation systems. This is a professional environment demanding high expertise and consistent delivery of results.

How to Join GSAM Without Prior Experience?

MBA programs offer an effective pathway to transition into global asset management firms like GSAM without prior experience.

Alpha has several success cases of individuals who transitioned into global asset management firms and hedge funds via MBA programs, and recently we've seen an increase in candidates pursuing specialized graduate programs in financial engineering and other finance-tech disciplines.

There are several reasons why an MBA can help secure positions at top global asset managers like GSAM. Here's a detailed explanation of these reasons:

(1) Financial Knowledge and Skills Development
・Reason: Companies like GSAM require deep knowledge of asset management (portfolio management, risk analysis, market trends). For those without experience, MBAs provide a structured way to quickly acquire comprehensive financial knowledge.
・Example: MBA programs (especially finance concentrations) offer courses in investment theory, corporate finance, and data analysis that directly translate to practical skills needed for GSAM roles.

(2) Network Building
・Reason: During an MBA, you build connections with talented students, professors, and alumni from around the world. Global financial institutions value professional networks, and at companies like GSAM, opportunities often emerge through alumni connections.
・Example: Top MBA programs (Harvard, Wharton, Stanford, etc.) have Goldman Sachs alumni and financial professionals involved, whose recommendations can create entry points for career changers.

(3) Career Change Justification
・Reason: Transitioning into finance without experience requires strong justification of your motivation and aptitude. Obtaining an MBA demonstrates commitment to learning finance and changing careers, which is persuasive at competitive firms like GSAM.
・Example: Highlighting your MBA specialization and relevant internships (e.g., asset management projects) on your resume shows you're "prepared" despite lacking prior experience.

(4) Global Perspective and English Proficiency
・Reason: GSAM is a global company requiring strong English communication skills and international market awareness. MBA programs (especially international ones) enhance these skills through English-language discussions and presentations.
・Example: International MBA programs feature multinational team case studies and debates that develop the adaptability and cross-cultural understanding required in GSAM's global investment teams.

(5) Educational Credentials
・Reason: Premier firms like GSAM prioritize candidate "quality" in hiring. A top MBA degree serves as a signal of academic achievement and competitiveness, indicating reliability and capability.
・Example: MBAs from INSEAD, London Business School, Columbia, and similar institutions are highly regarded in the financial industry, creating positive impressions with hiring managers.

(6) Practical Experience Opportunities (Internships)
・Reason: Many MBA programs include internships in their curriculum, offering chances to gain practical experience at financial institutions. For newcomers, this provides valuable "stepping stones" to enhance employability at GSAM.
・Example: Completing summer internships at asset management firms or investment banks during your MBA adds credentials to your resume and provides talking points in interviews. With luck, these can lead directly to recruitment opportunities.

(7) Enhanced Logical Thinking and Presentation Skills
・Reason: GSAM work involves client presentations and data-driven decision-making. MBAs strengthen logical thinking and persuasiveness through case studies and group work, which benefits both interviewing and job performance.
・Example: MBA training exercises like simulating investment strategy explanations to clients directly relate to GSAM's business requirements.

In summary, MBA programs effectively help those without experience transition to GSAM by providing comprehensive knowledge acquisition, network building, career change validation, global skills development, prestigious credentials, practical experience opportunities, and enhanced soft skills.

Particularly at firms like GSAM that seek top talent while requiring "preparation and motivation" from career changers, an MBA serves as a powerful tool to bridge this gap.

For Your GSAM Job Offer, Consult Alpha!

For the past 17 years, Alpha Advisors has successfully guided over 50,000 job seekers to secure positions at world-leading companies including Mitsubishi Corporation, Mitsui & Co., Goldman Sachs, Morgan Stanley, McKinsey, BCG, Google, Microsoft, Amazon, P&G, MUFG Bank, Mizuho Bank, Toyota, and many others.

We currently offer "Alpha Individual Coaching," "Alpha Intensive Training," and "Alpha Job Hunting Success Community" for third and fourth-year university students, graduate students studying abroad, and job seekers participating in the Boston Career Forum. For first and second-year university students, we provide comprehensive support through "Alpha Career Strategy" and "Exchange Program/International University Transfer Support" to prepare you for future positions at global firms and trading companies. We offer powerful support for your job search through Alpha's unique individual coaching and our selection community, utilizing expertise developed over 17 years.

Our company provides consistent support ranging from career strategy for first and second-year students to self-analysis, resume creation, motivation development, industry research, interview preparation, and alumni networking strategies for third-year students and beyond. If you have any concerns or questions about job hunting, please feel free to contact us anytime via chat. If you're aiming for positions at top companies such as global asset management firms, investment banks, trading companies, or other global enterprises, consult with Alpha to find the shortest path to your goal!

We recommend starting with Alpha Advisors' "Job Hunting Strategy Advisory" (only ¥48,000—extremely affordable with discounts available!) for a discussion with Alpha Advisors' representative TJ (formerly with Sumitomo Corporation, University of Chicago MBA, Goldman Sachs Investment Banking Division) to develop your career strategy. Let's work together toward your success and an annual income of over ¥50 million!

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