According to a tip sent to Dealbreaker’s Bess Levin, Goldman Sachs is firing its first-year analysts who already have offers at buy-side firms after their two-year investment banking gig is up. Apparently some executives at the bank are calling up the firms to ask, and analysts who have been revealed are being axed.
About 4 analysts have been fired so far, according to the tip.
Most banks have policies in place that prohibit analysts from looking for new gigs until after their contract is up, but we know many analysts who’ve managed to sidestep those rules and landed offers. (Now use those those skills to hide the offer!)
It’s not clear what Goldman’s policies may be and if executives are allowed to just call up companies to ask about job offers for Goldman analysts.
A Goldman representative declined to comment to Business Insider about their practices.