Goldman Sachs is offering select junior bankers the opportunity to move into its asset management division as part of a new strategy to stem private equity poaching and retain top early-career talent.

The initiative was announced in a memo sent to interns by Dan Dees, Co-Head of Goldman’s Global Banking & Markets division. The programme will offer full-time investment banking roles, with a guaranteed transition to asset management after two years. The unit includes Goldman’s expanding platforms across private equity, secondaries, and private lending.

“We will introduce an additional early entry point for those of you interested in exploring buyside careers,” Dees wrote in the internal communication.

The move comes as major private equity firms, including General Atlantic, Apollo, and TPG, have recently paused aggressive junior hiring timelines. These “on-cycle” recruiting practices often lock in investment banking talent for associate roles before they’ve completed even one year on the desk. JPMorgan earlier this summer barred juniors from accepting such future-dated offers, while Goldman plans to have analysts attest they won’t commit to rival roles prematurely.

The firm’s asset and wealth management arm raised $18bn last quarter for its alternative investment strategies, reflecting the growing scale and appeal of internal buyside opportunities. That includes capital for growth equity, secondaries, and a newly formed private credit unit.

With this talent strategy shift, Goldman joins a broader industry trend of providing more mobility, internal career mapping, and long-term incentives to counteract the draw of external private equity opportunities.

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