Goldman Sachs is moving more tech jobs to cheap locations. So, what if you want to work in New York or London?

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Goldman Sachs is moving more tech jobs to cheap locations. So, what if you want to work in New York or London?

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 out of 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, said Scherr. - Like JPMorgan, GS is trying to get a handle on its huge communications and technology budget ($286m 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 (AKA Bengalaru) 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 - and which is also creating roles for people in Bangalore.

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. 

So, what kinds of technology jobs is Goldman hiring for in each of its locations? And how can you be assured of getting an engineering job at GS in London or New York now? Partly 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. 

Goldman Sachs' engineering jobs in Bengalaru - consumer and commercial banking, IBD development

Goldman's Bengalaru engineering jobs are heavy on its consumer and commercial banking division. India-based developers are also busy with the automation of Goldman's investment banking division (IBD). There are the Foundational Technology jobs mentioned above. And there are some interesting front office jobs working on Goldman's SecDB risk and pricing system and on cloud development for Marquee. 

Goldman Sachs' engineering jobs in 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. 

Goldman Sachs' engineering jobs in London - new web-based applications, exciting data roles

Goldman's 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 (like 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.'

Goldman Sachs' engineering jobs in New York - go for the research and development team or for Accelerate

The most exciting technology jobs at Goldman'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.'

Goldman Sachs' engineering jobs in New Jersey and Salt Lake City - data and private wealth management 

Salt Lake City has got Goldman's private wealth management tech jobs, plus roles on things like its 'digital experience team' which enables interaction at conferences. New Jersey has several data roles, including one on the 'data lake' beloved of Marty Chavez.

Goldman Sachs' engineering jobs in Warsaw - More front office tech roles than might be expected

Lastly, Goldman Sachs was clearly not lying when it said it said Warsaw is a good source of technology talent and that more tech jobs working with the front office would be moving there. Among other things, the firm is currently looking for a Warsaw-based VP to help automate its equity derivatives pricing and for a front line engineer to work on its fixed income systematic trading business. 

Have a confidential story, tip, or comment you’d like to share? Contact: sbutcher@efinancialcareers.com in the first instance. Whatsapp/Signal/Telegram also available.

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