The move underscores the trend among banks to lure and retain top talent who may not have been privy to Ivy League education.
As per a senior Goldman executive, the Goldman Sachs Group plans on using a “personality test” as part of its hiring process for positions in its banking, finance, trading and risk divisions.
The pilot project will begin on U.S. interns this summer who would be starting in 2018, said Matt Jahansouz, Goldman’s global head of recruiting, in an interview.
He went on to add, candidates will be subjected to the test before their second round of interviews and their answers will be compared with those of current Goldman employees, who have already been identified as exhibiting traits that mark high performance such as analytical thinking, teamwork and judgment, said Jahansouz.
He went on to add, the result of this test will be just one factor in the final hiring decision.
It isn’t immediately clear as to how this personality test would be administered or the types of questions that would be asked.
Many banks, including Goldman, are now turning to non-traditional ways of evaluating new employees. The move comes at a time when they are coming under increasing pressure to hire and retain top talent.
“We’re shifting from a world where you just used to look at a GPA and resume and walk out with a feeling about an individual that you might want to hire. We can now capture characteristics and data that might not be as obvious to make smarter hiring decisions,” said Jahansouz.
In 2016, Goldman amongst its other moves, to help identify strong candidates who may not have attend Ivy League schools, Goldman scrapped first round interviews on college campuses in favour of a video platform.