Goldman Sachs recently kicked off its renowned summer internship program. This 10-week initiative gives college students the chance to “spend the summer learning from the firm’s leaders, working on significant financial challenges, and developing their professional skills,” according to the company.

However, gaining a spot as a summer intern at Goldman Sachs is tougher than securing admission to Harvard University. Harvard had an acceptance rate of just 3.6% for its undergraduate class of 2028, but the acceptance rate for Goldman Sachs’ 2025 summer internship was an even slimmer 0.7%.

With over 360,000 applicants worldwide vying for 2,600 positions across various offices, the firm highlighted this as “the most competitive intern class” ever in a LinkedIn post. The selected interns represented more than 500 schools and spoke over 85 different languages.

Since David Solomon took over as Goldman Sachs CEO in 2018, the number of applicants for the bank’s coveted summer internship program has grown more than 300%, according to Fox Business. Compared to a year ago, the applicant pool has expanded by 15%.

Goldman isn’t the only bank with a less than 1% acceptance rate for its summer internship. JPMorgan reported receiving 493,000 applications last year for 4,000 seats, marking an acceptance rate of 0.8%.

The interview process for Goldman internships involves two steps: First, a 30-minute video interview with HireVue, and second, a “superday” final round of interviews with two to five interviewers. Engineering candidates additionally have to pass an online skills assessment.

According to Glassdoor, interns were asked questions like “Walk me through your resume,” “Explain banking like you were five,” and “Why Goldman Sachs?”

The application process for Goldman’s intern program begins over a year in advance, in the spring of the previous year. Final round interviews are already underway for candidates for next year’s internship class. Applicants have typically completed their junior year of college by the time the internship starts, making them sophomores at the time they apply.

What’s harder than landing an internship at JPMorgan or Goldman Sachs? Being a NASA astronaut, which only accepted 10 out of 12,000 applicants when it opened up selection in 2020, for an acceptance rate of 0.083%.

Goldman Sachs stock was up over 20% year-to-date.