Money, Tech, Recession: The World According to a Goldman Intern

Goldman Sachs Group Inc.’s interns overwhelmingly expect the US economy to fall into recession.

Goldman Sachs Group Inc.’s interns expect the US economy to fall into recession.

Goldman Sachs Group Inc.'s interns overwhelmingly expect the US economy to fall into recession, and see climate change as among the most pressing issues of the coming decade, a survey shows.

Of the 2,470 summer interns who completed the annual survey, 86% expect a recession, the Wall Street giant said Wednesday on its website. Those surveyed identified climate change, artificial intelligence and geopolitical tensions as the most urgent issues to be faced over the next 10 years.

Amid a surge in digital banking and currencies, 47% of surveyed interns reported using phone-based payments, while only 2% reported using cash. Despite the popularity of digital assets and services, 99% of interns reported that they prefer relationships formed in person. Goldman Sachs has been among Wall Street's most aggressive proponents of bringing staff back to their desks.

An internship at Goldman Sachs is one of Wall Street's most competitive and prized positions for aspiring bankers, and can lead to offers of employment at the firm. The bank received a record 236,000 applicants for 3,700 summer internships globally this year.

Only 45% of interns expect to get married or establish a formal relationship, down from 88% in 2021.