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Following last year’s layoffs and lower compensation, Goldman Sachs is reportedly planning to increase some employees’ benefits to boost morale at the investment bank. According to Dow Jones’ Julia Steinberg, Goldman is expected to reveal plans allowing junior level employees more vacation time.
Associates at the bank, the second rung up from analysts (the most junior level), will be granted a month off before starting jobs as vice presidents. They will also get a week of “protected’ vacation when they don’t have to be as responsive to email and phone calls. Investment banking employees traditionally tend to be always “on call,” working just as hard while on vacation as when at work, a person familiar with the matter said.