Hey! Welcome back to another issue of ‘Career Guides Weekly’ by Career Guides.

Lots of you loved this issue of our newsletter and so we’re back with another topic to help you get one step closer to your dream career.

The plan going forward will be as follows:

Mondays: Commercial Awareness Newsletter (here’s an example)

Thursdays: Career Tips & Advice Newsletter (here’s an example)

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With that, let’s get straight into it!

The Cover Letter Structure I Used To Get Into Goldman Sachs

Your cover letter is just as important as your CV (résumé). However, most applicants think about cover letters as an afterthought once they’ve spent hours, days and even weeks perfecting their CVs (résumés).

If this sounds like you, chances are you’re shooting yourself in the foot.

What if I told you there’s a better way?

A simple 3 step structure that will increase the likelihood of your spring week, internship and/or grad-scheme applications standing out from the crowd and thus securing more interviews.

Leveraging this cover letter structure has helped me, and thousands of others secure interviews at some of the worlds most prestigious institutions across the world of financial services, consulting and beyond.

Here’s how to do it.

All you have to do is answer the following 3 questions across 3 paragraphs (plus an introductory and concluding sentence or two at the beginning and end of the cover letter, respectively) and keep it all less than 1 page long (anywhere between 300-450 words should be sufficient). The 3 questions are:

1. Why do you want to work for this company?

2. Why do you want to work for this division?

3. Why should we hire you?

Let’s go through each question in detail.

Introduction

Begin by introducing yourself. Depending on your circumstances you might want to mention what you’re currently studying and at which university.

If you’re employed you can mention what your current position is and add something along the lines of “I’m exploring opportunities in search of a new challenge”.

No need to go into too much detail here as it’s only an introductory sentence or two.

Paragraph 1 - Why The Company?

Always remember, the application process to securing a job is a pitch. You have to sell yourself to the reader of your application. They’re an employee of the company, so it’s a good idea to say things that they’d like to ‘hear’ and mention things that’ll impress them.

You essentially need your cover letter to pitch your interest and desire to work for the given company in as few words as possible. Too many words, and they’ll be put off which risks your cover letter being passed on, or worse, thrown in the bin.

For this paragraph, you want to explain why you’re interested in the given organisation. What specifically makes them stand out to you? Why are you applying to that organisation as opposed to [insert competitor]?

Examples you can include can range from the investments and/or deals the firm has worked on, or specialises in, any new initiatives that stand out, the responsibility analysts are given, the work they do, their social impact projects, the organisation’s senior leadership and its reputation, the companies brand, proven track record, etc. This paragraph should indicate to the reader that you’ve done your research and understand what separates their organisation from the rest. The more detailed, the better.

Ask yourself, “if I was an employee at Goldman Sachs interviewing a student or graduate, what would they need to do to really impress me?” and then do ‘that’ thing.

It’s important to include relevant stats or data about the company where possible. It could be related to investments, quarterly performance, transactions, deals, acquisitions, profits, revenues, etc.

Doing so shows that you’ve gone one step further than most candidates. You can see how I did this here in my cover letter that got me into Goldman Sachs.

Ask yourself “is what I’m writing in this paragraph ‘surface’ level knowledge (easy to find online) or ‘deep’ knowledge (requires more extensive digging and research online)?“. Aim for the latter.

Paragraph 2 - Why The Division?

This paragraph allows you to show-off. It’s your chance to flex what you know about the division you’re applying to. If this paragraph is well written, you’re likely getting an interview. Why? Because everybody likes a candidate who knows exactly what they want or has a strong idea of what they’re getting themselves into. Also, most candidates don’t have a clue what most divisions do and so it’s an easy way to stand out.

If you really want to stand out, and learn more about a division than 99% of other candidates you should consider purchasing one of our premium career guides. They’re the guides I wish existed when I was in your shoes.

Just as you explained why you’re interested in the company specifically, now it’s time to explain why you’re interested in the role or division that you are applying to and why a career in that role or division is right for you.

Here, the reader is keen on understanding whether you have a strong idea of what it is you’re actually applying for. Thus, you need to demonstrate an understanding of the role, the division and the nature of the work by touching on specifics that are relevant for the company too.

For example, does the firm specialise in this area? Have you heard positive things from current employees about this division? Do you have previous experience in this role or division?

Using specific examples where the division in question has experienced positive news or press coverage is always an easy win. Touch on any relevant networking events that you’ve attended or people at the organisation that you’ve met.

Name-dropping a current employee is a great way to stand out, but it will require you to go out and network and meet people in the industry.

When writing this paragraph of your cover letter always keep in mind the importance of displaying a strong understanding of the division you’re applying to.

If you’re applying to the investment banking division than it might be worth mentioning specific details on a recent merger, acquisition or interesting deal. If you’re applying to sales and trading you might want to mention something specific to the asset class you’re most interested in. Or if you’re applying to asset management you might want to mention ESG investing or why you’re interested in sales or portfolio management (depending on your preference).

Candidates who poorly answer the question “why do you want to work in this division?” very rarely move to the next stage of the application process. Check out these videos for interview help.

A few more pointers:

• Understand the role of the division - What do they actually do? How do they make money aka ‘generate revenue’? What’s their purpose? How do they fit into the rest of the organisation if it’s a global investment bank with lots of different divisions? Which other divisions do they work closely with? What does an analysts or interns role entail within this division?

• Google search the firm and division and see what comes up under ‘news’. Anything positive is worth noting.

• Always remember, you want to answer the question “why this division?“. So whatever research and data you’re able to compile, make sure it answers this question when you include it in paragraph 2.

• Need a hand? You can find in-depth information in our division specific guides.

Paragraph 3 - Why You?

Last but not least, you want to explain why they should hire you by highlighting your previous experiences (both professional and extracurricular) together with the skills learnt and developed – tie this all into how it can be useful for the role (and how it aligns with the role).

For example, you can write something along the lines of “having honed my robust teamwork abilities through active participation in sports, I strongly believe that these skills will be particularly beneficial in navigating the dynamic and collaborative environment of the trading floor, where seamless interaction with diverse individuals is fundamental.”

Whether your previous experiences are relevant or not, what did you learn from them? Why does that matter to the person reading your cover letter? Explain it to them and provide results where necessary.

Lastly, why do you believe these reasons make you a strong candidate for the role. What differentiates you? Remember, it’s all one big pitch.

You need to sell yourself better than the other hundreds and thousands of applicants in order to be called for an interview or invited to an assessment centre. I know that sounds scary, but don’t worry, by reading this article you’re probably ahead of 90% of other candidates.

Conclusion

To conclude, reiterate why you believe you’re the ideal candidate for the role and what it would mean to secure an offer.

Thank them for taking the time to read your cover letter and application and let them know you look forward to hearing from them. Keep it short and sweet.

Note: whenever there’s a specific word limit and you don’t know what parts of your cover letter to leave out, always get rid of the introduction and conclusion first. The body (3 main paragraphs) as discussed above are most important.

Using this approach to structure and create your cover letter should hopefully give you everything you need to get noticed and progress to the next stage (assuming the rest of your application is in good standing).

When you eventually get interviews, be sure to read this article explaining the 6 pages that you need to prepare before every interview.

If you prefer watching videos instead of reading, watch this video instead.

Always remember, it’s a numbers game. The more you do, the better you get. As humans we learn by repetition.

Thanks for reading and I hope you found this information useful.

I’d love it if you could let me know what you thought of this post by using the poll in the green box below. Thanks!

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