No recession blues: Goldman Sachs still attracts MBAs

No recession blues: Goldman Sachs still attracts MBAs
New York: Despite facing criticisms around the globe for its role in the economic slowdown, Goldman Sachs continues to attract MBA graduates and is ranked as the fourth most desirable place to work for MBAs. Shareholders are suing Goldman Sachs over its bonuses, and various publications have criticized the company for selling securities backed by subprime mortgages and trading in financial instruments that helped trigger the U.S. government bailout of American Insurance Group (AIG), reports Bloomberg. Goldman Sachs, which was rated third the previous five years, is ranked fourth now according to a survey by marketing firm Universum Group of 6,207 MBA candidates at 67 business schools from December 2008 through March 2009. The company had set aside $16.7 billion (around 76,000 crore) for pay and bonuses after receiving $10 billion from the U.S. Treasury. In the survey, Goldman Sachs trailed search giant Google and the consulting firms McKinsey and Bain and Co. Goldman Sachs hasn't seen any decline in job enquiries from MBA students since last year, Sandra Hurse, Vice-President for Global Recruiting, wrote in an email. "Our applications numbers remain on par with previous years, and attendance at our recruiting events on campus this year were high," Sandra said. Business school students, especially those interested in investment banking, said in interviews they want to work at Goldman Sachs because of its financial success, its influence on Wall Street and its high-energy, lucrative workplace. Goldman Sachs is scheduled to report fourth quarter financial results on 21 January. The bank is expected to post earnings of $5.38 a share, the most in two years, according to the average estimate of 22 analysts surveyed by Bloomberg.