Goldman’s prestigious partner status — a title open to a select few Goldmanites — is well known for the perks and pay that comes with the name.
But the NYT spotlights something that most people probably hadn’t realised. People lose their partner status, and this year may be brutal.
According to the report, weak conditions at the bank may cause up to 60 employees to get departnered, a fate that few would want the world to know about:
“I have friends who have been de-partnered who are still there, and most people inside think they are still partners,” said one former Goldman executive, who spoke only on the condition of anonymity. “It is something you just don’t talk about.”
Former partners frequently leave the company, though. Because the slight isn’t made public, they can get away with not telling folks, though in some cases, getting de-partnered means losing a window office, which might make it kind of obvious.