Investment Banker Gaurav Seth (562-OA '94)
" My memories of Doon are as fresh as they were on my last day of school. I have so many wonderful recollections of school, and continually share stories with other Doscos, friends from Swarthmore College, colleagues at Goldman Sachs, and my wife who tells me she has had enough already."
Where we you born, where did you study before Doon?
I was born and raised in New Delhi and studied at Junior and Tiny Tots with several other Doscos in the making!
Tell us a little bit about your life before Doon
I was obsessed with cricket, my favorite pastime. I was coached during the summers at Nehru stadium and played at every opportunity. For a time there, I really did not care about too much else.
When you were a child what did you think you’d be when you grew up?
From an early age I knew I wanted to be a cricketer and pursued that dream throughout my childhood. Although my life has taken me in other directions, I will always have fond memories of my countless hours on the cricket pitch.
What made you join The Doon School?
It seemed like a good idea at the time! Just kidding. I am a Doon School legacy, since my father, chacha and several cousins are also Doscos. My family members’ fond recollections of Doon inspired me to follow in their footsteps. In addition, many of my friends at Tiny Tots also applied, adding to the allure of Doon.
Did you enjoy studying at Doon?
I really enjoyed my experience at Doon and believe it was the perfect place for me to grow up. Doon provided me with the opportunity to think independently and take responsibility for my own actions. In addition, it allowed me to balance my extra-curricular interests, including cricket, with my studies. Doon fostered an environment in which I was motivated to succeed at all of my endeavors. Perhaps most importantly, I met some incredible people at Doon, many or whom are still among my best friends today.
What do you remember most about school?
My memories of Doon are as fresh as they were on my last day of school. I have so many wonderful recollections of school, and continually share stories with other Doscos, friends from Swarthmore College, colleagues at Goldman Sachs, and my wife who tells me she has had enough already. If I were to launch into my long list of tales here, I might run the risk of boring all of you too.
What about Doon did you like most?
Here, again, the list is too long for the format of this interview. I loved Doon's focus on a well-rounded education and its focus on shaping its students into independent, multi-faceted individuals. Doon gave me the opportunity to excel in multiple fields — academics, sports, and other extra-curricular activities from mountaineering to photography to SUPW. I also appreciate Doon’s attempt (although it can never be completely successful) to mask socio-economic differences between students, by encouraging students to look beyond material matters to the more substantive merits of their classmates.
What parts of Doon did you not enjoy?
While Doon’s focus on a well-rounded education is one of its most positive aspects, it also frustrated me at times. I sometimes found it difficult to focus on one area, while such focus is often necessitated if one wishes to succeed. In my post-Doon School life I have found that specialization is critical to achieving excellence and competing in the real world. I believe that Doscos, distracted by so many fields of study and extra-curricular activities, may find it difficult to give any one pursuit the attention required if they are to stand out from the crowd. As a result, Doscos may find it more difficult than students at other schools to become competitive sportsmen or to pursue colleges such as IIT. These endeavors require intense focus and dedication, which are difficult to achieve under Doon’s philosophy of a comprehensive education.
If you could change one thing about Doon, what would it be?
I think Doon falls short in the area of career management and guidance. I found that most of my classmates made their college decisions based on guidance from parents and peers. An institutional like Doon ought to have a career department which provides exposure to college alternatives both within India and abroad and enables students to gain important, and perhaps neutral insight, into their futures.
Tell us a bit about your higher education. Where did you study?
I completed my BA at Swarthmore College, in the US. (Along with Amherst and Williams Colleges, Swarthmore has always been rated as one of the top three liberal arts colleges in the US). Swarthmore was truly a wonderful experience and, in several ways, Swarthmore is similar to Doon. The college is a small, tight-knit community set in a large, beautiful campus. Both institutions foster strong bonds between students and faculty. Much like Doon, Swarthmore gave me the chance to pursue my diverse interests, and I am not sure another institution would have been so willing to allow me to play baseball, since I was prone to run straight ahead, bat in hand (ala cricket), a major offense in the world of baseball!!
What did you major in? Did you enjoy your program?
I was a double major in Economics and Computer Science, although I must admit that I greatly preferred the former to the latter. I also took classes outside of my majors, and especially enjoyed “Music for Dummies,” Philosophy, Religion (Upanishads) and US Defense Policy. These classes really stretched my mind, and for my Philosophy class, I even wrote a paper on how Descartes and Hume would have answered the question "Is there good reason to believe that the essence of water is H2O?” I also met my wife, Liz, at Swarthmore, making it an even more special place for me.
Would you recommend it to others?
I highly recommend Swarthmore to Doscos, and anyone who is interested in the College should feel to call or email me with any questions.
If you could go back to college again where and what would you study and why?
I would definitely go back to Swarthmore College, but would change my course of study somewhat. While I would still major in Economics, I might replace Computer Science with Maths. I might also to learn to play a musical instrument.
Did you have another career prior to investment banking? What were you doing?
Since graduating from Swarthmore, I have been working at Goldman Sachs.
What inspired you to enter investment banking?
Throughout Swarthmore, I always found Wall Street an intriguing place, and was fascinated by its fast pace, exciting stories and personalities. At Swarthmore, I attended many on-campus recruiting sessions hosted by the top investment banks. These sessions further inspired me to pursue a career in finance.
How long have you been in investment banking?
I have been at Goldman over five years.
What is your job and what do you do on a daily basis?
I began my career at Goldman working in a group that focused on two primary areas: 1) advising clients on mergers and disposition of assets and 2) investing Goldman's capital in distressed consumer (credit cards, auto loans, music loans, etc.) and commercial finance assets in the US and Latin America. After working in this group for about four years I was asked to focus on real estate investing for Goldman, which is what I do now.
I don't really have a typical day since my schedule is constantly changing, depending on what I'm working on. Change keeps my work exciting. Still, most days I spend a fair amount of time on the following activities:
(1) Making phone calls — talking with clients, potential co-investors, real-estate private equity funds and our competitors.
(2) Conducting on-site due diligence at various properties — office buildings, hotels, malls, etc.
(3) Reviewing financial projections and determining property values.
(4) Preparing investment committee memos to obtain internal approvals.
What are the most important skills required to be a good investment banker?
I believe the skills that differentiate the best investment bankers from the rest are as follows:
1) Flexibility — Life at an investment bank tends to be rather chaotic as projects and tasks drop onto one’s desk out of thin air. It is imperative to be flexible enough to accommodate crazy schedules and deadlines as well as to be able to perform greatly varying analyses.
2) Enthusiasm and energy — Though investment banking is not rocket science, the environment can be stressful. It is important to keep up one’s energy level and to remain enthusiastic about the job at hand.
3) Attention to detail - Investment bankers deal with tons of information including a company's projected earnings and confidential details about a pending merger. Small mistakes can have a large impact and unlike in school where one's mistakes generally only impact one’s own performance, in an investment bank one's mistakes may have a negative impact on the entire team, project and client.
Do you think investment banking is a good profession to pursue?
I think investment banking is a great career to pursue. I cannot imagine too many other careers in which one has the opportunity to meet the CEOs and CFOs of the leading companies of the world, gain exposure to best-in-class business practices and make meaningful contributions very early in one's career.
Did Doon help prepare you for a career in investment banking? And what impact/influence did your college education have?
Yes, I think Doon certainly prepared me for a career in investment banking, albeit indirectly. The school environment pushed me to think independently, develop a broad based skill set, and provided me with the opportunity to participate in many groups (either through sports or group projects) which greatly helped me appreciate the team spirit – thinking beyond one’s selfish interests and being accountable to the larger group for one’s actions. Doon’s focus on all round education provides a fantastic platform should one be willing to leverage it.
Swarthmore fostered many of the same values as Doon. It helped me further develop my skills – especially written communications skills given the liberal arts focus on writing papers, reports, etc. Moreover, it provided me the adequate exposure to the world of investment banking and firms such as Goldman, which eventually led to where I am now.
You live and work outside of India. Any particular reason why you chose to leave India?
Leaving home and family is always a very difficult decision. However, one is often forced to make these tough choices keeping several other factors in mind – scope of opportunities, exposure, education, potential for growth, etc. My family was very supportive, extremely helpful and provided me with all the resources I needed as I thought through several of these issues. At the end of the day, Swarthmore seemed like a fantastic opportunity, which seemed difficult to pass.
Thank you for your participation

