Goldman Sachs' Recruiting Plan: Ads On Spotify, Vox And Snapchat?

According to a Bloomberg report, one of Wall Street's most notable and largest banks paid Spotify for audio and banner ads across the United States and the U.K. as part of a new initiative to reach young potential employees.

Goldman Sachs has also overseen similar initiatives with Vox Media for years, along with Snapchat, Twitter Inc TWTR and LinkedIn Corp LNKD.

Goldman Sachs' audio ad on Spotify says that the company is a "place where talented people from diverse backgrounds come to make a difference — from building a new app to managing an IPO."

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The ad continues, "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."

The new approach comes at a time when Wall Street faces competition from Silicon Valley for talented graduates.

There is also a stigma associated with working for a Wall Street bank of long work days, no spare time and a stressful work environment. By comparison, Silicon Valley is viewed to offer employees a more relaxed environment with many perks such as catered meals and game rooms.

The bank's global co-head of brand and content strategy Amanda Rubin told Bloomberg that while Spotify and Snapchat are unconventional media choices, they spread the message of helping young people understand Goldman Sachs' core message.

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