Goldman Sachs Advertises on Spotify to Recruit Young Employees

(Bloomberg) -- Goldman Sachs Group Inc. is running recruiting ads on Spotify, the music streaming service in which it’s an investor, as part of a retooled effort to reach young potential employees.

The audio and banner ads appearing in the U.S. and U.K. link to Goldman’s app and introduce potential recruits to different parts of the company. One of Wall Street’s largest investment banks, Goldman is trying to entice potential applicants by stressing the opportunity to have a positive impact on society.

“It’s a place where talented people from diverse backgrounds come to make a difference -- from building a new app to managing an IPO,” the audio says. “We’re people who have studied the humanities, science, math -- you name it. When you want to make an impact in unexpected ways, think Goldman Sachs.”

Goldman this year overhauled the way it recruits college students to prevent bias and attract a more diverse group, as the broader financial industry faces mounting competition from Silicon Valley for the most talented graduates. The bank recently used Snapchat Inc. to target young candidates, advertising in the social media company’s stories featured at some 50 schools.

In addition, Vox Media Inc., the web publisher that owns technology site The Verge and food site Eater, has posted Goldman content for a few years, while the New York Times worked with the company on business graphics. Goldman also uses Twitter Inc. and LinkedIn Corp. The company didn’t say how much it’s spending on the Spotify ads.

Unconventional Choices

“Spotify and Snapchat are unconventional media choices for us,” Amanda Rubin, global co-head of the company’s brand and content strategy, said in an interview Thursday. “We’re trying to be valuable and help young people understand Goldman.” 

In addition to being an investor in Spotify Ltd., Goldman advised the company on a $1 billion funding round in March, people with knowledge of the matter said at the time.

To contact the reporter on this story: Lucas Shaw in Los Angeles at lshaw31@bloomberg.net. To contact the editors responsible for this story: Crayton Harrison at tharrison5@bloomberg.net, Rob Golum, Paul Barbagallo