What MBA Learns Working a Goldman Sachs Sales and Trading Job
In Chapter 4 of 13 of his 2009 Capture Your Flag interview, Phil McKenzie shares what he learned about attention to detail working at Goldman Sachs. Working on a Goldman Sachs trading desk, McKenzie learns to define and execute rigid, shortcut free, operational procedures to maintain a high performance level in his trading floor environment.
McKenzie joined Goldman Sachs after earning an MBA at the Duke University Fuqua School of Business. He earned a BA degree from Howard University.
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Transcript:
Erik Michielsen: What were the greatest takeaways from the Goldman Sachs experience?
Phil McKenzie: If you don`t have attention to detail, there is an error, and errors never go in your favor. There are no shortcuts. There is no ability to get to where you want to be by taking shortcuts. The firm has a lot of procedures and steps toward doing things the right way. You learn you can`t take a shortcut and say to yourself I`m not going to read research because I don`t have to time. Of course it will come up. It will come up the next day.
Erik Michielsen: It`s like saying I have an incredible library… they are Cliff Notes. That is not going to cut it.
Phil McKenzie: You lose something in translation when you try to take shortcuts. Everything is a process of operation and procedures. The better you tackle those operations and get them streamlined the more efficient you will be and the more successful.