The calls came in one by one. 7:45 a.m. for one, 8:06 a.m. for another.
The conversations were brief, but the message was the same. Each recipient had been selected as a member of Goldman’s 2025 class of new managing directors, comprising 638 out of the firm’s roughly 48,000 employees. The MD title puts them just one rung beneath its powerful cadre of partners.
Bering Tsang, a newly promoted MD in healthcare mergers and acquisitions, recalled when Matt McClure, one of the firm’s three global co-heads of investment banking, called him on Thursday morning to break the news.
“I froze for a second and said, ‘Thank you,'” Tsang told Business Insider. “Something about the way I said it made him laugh, and he asked, ‘Are you surprised?’ to which I replied, ‘I am grateful.'”
For Tsang — who once interned in the firm’s summer analyst program — and others like him who were campus hires or joined the bank early in their careers, the recognition is the culmination of years climbing the ranks.
Business Insider asked five members of the 2025 class of MD to share their best career advice and reflect on insights and experiences that helped them reach this point. They talked about making yourself “mentorable,” exuding a strong work ethic, as well as triaging mistakes and growing from them.
These MDs sit across the global bank, from asset and wealth management to global investment research to mergers and acquisitions and private wealth. Their thoughts, assembled alphabetically by last name, have been presented in their own words with light edits for length and clarity.
Michael Brill
Head of capital formation for hybrid capital within the asset and wealth management division.
Courtesy of Goldman Sachs
“Early in my career, one of my mentors instilled the following motto in my mind: Put a smile on, work hard, do a good job, and doors will naturally open up. The main takeaway is that a good attitude and work ethic will open more opportunities that you may not even be planning for — which are generally the best ones. This advice stuck with me, so I often say the same to analysts and associates.
“Empowerment is key as you rise in your career and begin to take ownership of your role and team.”
Lizzie Dove
Senior gaming, lodging, and leisure analyst in global investment research
Courtesy of Goldman Sachs
“I’d go back to advice that was given to me as an analyst: be obsessive about details, leave everything better than you found it, and treat everyone like a client.
“I’d also like to think starting out as an analyst has given me perspective on what makes a good manager and what challenges people might face at different stages.
“The best thing about the job is that no two days are the same and, for this sector specifically, things change very fast. When things get overwhelming, I always go back to my to-do list and focus on prioritizing. There is wisdom in knowing which tasks can be deferred and which you can’t drop the ball on.”
Joe Hall
Private wealth advisor
Courtesy of Goldman Sachs
“Ask for context on every assignment so you understand the ultimate objective and can deliver a product that is most relevant and impactful.
“I joined Goldman mid-career after a successful career in a different industry, and starting again at the bottom was a humbling experience — an important one, however, as it reinforced in me the value of humility, hard work, and continuous reflection on the enormous responsibility we have to our clients.”
Jim Schneider
Senior semiconductor analyst in global investment research
Courtesy of Goldman Sachs
“Be a self-starter, and show that you are motivated to work hard and make an impact. But remember to be generous in helping others along the way — as it will take many people to help you build your career.
“I received my PhD in electrical engineering with a focus on semiconductor device and manufacturing technology which is the industry I cover today. I’ve found that having a well-rounded educational background, not just in science and engineering but also in humanities, has been incredibly helpful in being able to ‘context switch,’ navigate career transitions, and bring a broader perspective into my work.
“Having training and experience in both tech and finance, I’ve learned many lessons from one world that can be applied to the other.
“As a research analyst, some of the most defining experiences come from stock calls, both good and bad. It always feels good to help clients with your investment recommendations, but some of the most defining growth experiences come from the calls that didn’t work out. Those are the moments when it’s critical to take a step back and dig into your process and what you could have done differently.
“Then, take those lessons and apply them the next time, ensuring continuous improvement in your approach.”
Bering Tsang
Investment banker in the healthcare mergers and acquisitions group.
Courtesy of Goldman Sachs
“My first public company deal really sticks out to me. It was a very special feeling to see all of our hard work come to fruition and realize the true impact of the work we do. Care about the work, feel ownership in all you do, master the basics, admit mistakes, overcome and learn from them, and show up every day with an attitude that ‘today could be the best day.’
“Goldman Sachs provides a tremendous opportunity to seize responsibility and take ownership in your work right from the start.
“The firm’s apprenticeship model and focus on client service mean that even early in your career, you’re working directly with clients and business leaders, gaining valuable experience and empowered to take on more responsibilities as you grow.
“A key part of the journey is striving to make yourself “mentorable’ — essentially, working hard to be someone whose growth and development are a worthwhile investment of others’ time and energy. This means being proactive, open to feedback, and actively engaged in the process.”
