Want a Crystal Ball in the future of Wall Street? Start with Goldman Sachs' annual internship survey.
Goldman voted around 2,100 summer analysts and associates for the 10th annual intern survey, asking about everything from using AI to commute in the morning to their home buying ambitions.
Technology dominates the topics covered in this year's survey, with nearly 100% of respondents saying they have been using AI since 86% in 2023. At the same time, the results appear to underscore the ability to unplug more face-to-face interactions and technology.
“The future leaders today are undoubtedly digital natives,” says Jacqueline Arthur, global head of human capital management at Goldman, but the survey states that these interns “aspire to personal collaboration and experience.” She added that the intern was selected from a record pool of 360,000 applicants.
Business Insider has looked at the data and elicited key insights from a class of Gen Zers, who could one day lead the world's biggest bank.
Using AI and fear
Approximately 97% of interns reported using AI tools in their personal lives, but primarily to support their writing. (31%), search or check facts (19%), or receive advice (16%). 84% of them believe that AI will have a net positive effect, while a whopping 98% believe that it should be “heavy” or “somewhat” regulated.
Part of the hesitation is related to data. 54% of interns noted that they shared information about a particular topic with AI tools, while 37% were nervous about how the tools store or use the data. More than half of those surveyed said that AI doesn't want to be involved in creative work like art, music or books.
The opinions of AI interns were mixed. Goldman Sachs
Many interns seem to believe that AI will change the experience on the Internet, with 77% thinking that at some point they will replace search engines.
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According to 69% of interns, what is the most important skill in the future? How to provide effective prompts to AI.
Pocket money
When it comes to purchasing power, 98% preferred to pay in full instead of buying now. 57% use digital wallets to actually make that payment. This increased from 49% in 2024 to 44% in 2023. 22% answered Use apps like Venmo, and 19% use physical cards. Only 2% will use cash.
Online shopping seems to be everywhere, but 59% say they prefer to shop in person. Food and fitness are the biggest categories of fun buying. Thirty-seven percent of interns said they spend extra money on food and takeout, while 15% said they spend on wellness.
Food and food were the biggest spending categories. Goldman Sachs
Living outside work and outside work
Outside the office, interns said being with friends and family is a favorite way to relax, followed by workouts and sports. Favorite books included classics such as “1984” and “The Great Gatsby.” There There were also more stereotypical banker titles: “The Poor Dad's Dad”, “How to Gain Friends and Influence People”, and “Money Psychology”.
Approximately 74% of interns said they use tools that don't interfere with screen time to limit screen time. This is an increase from 65% in 2023.
Career expectations
Most of the interns imagine Mentorship as a part of the workplace – 84% say they “hope to pair with a mentor when they start a new job.” Once they enter the workforce, 52% plan to remain in their first job for two to five years.
In-person work has been back on Wall Street for some time, with 47% of interns saying they want to be in-person with their colleagues, compared to 35% who said they prefer the team's message.
The highest percentage of interns prefers face-to-face communication at work. Goldman Sachs
What they want for their future selves
Goldman's interns may be professionally driven, as they do. They are also ambitious about their personal and romantic life. Of those surveyed, 97% predict that they will buy a house at some point, starting from 85% in 2024.
And there's a plan to fill that home with people – 96% of interns expected to get married or have a formal relationship from 92% in 2024 and 89% in 2023. Expect to meet other people who are important in real life, not online.
The largest percentage jump in lifestyle questions year over year is related to children. 87% of interns plan to raise children compared to 61% last year.
