A former Goldman Sachs VP, Matt Levine, is about to start working at Dealbreaker, according to Dealbook. In case you don’t know Dealbreaker, it’s a financial blog that writes posts like this, this and this — about Wall Street firms like Goldman.
It’s great news for Levine, but before he can start working there, Goldman is “making” him take 60 paid days off, in the peak summer months, also known as a 60-day “garden leave.” Usually Wall Street employees have to take a garden leave if they’re going to a competitor.
In other words, Goldman is freaking out that one of its employees is going to the press.
Of course a downside in quitting Goldman, obviously, is that Levine will take a big pay cut. The Observer bid $500,000 – $1,000,000 to buy the site last year, but couldn’t pony up a paycheck big enough to get the site’s editor (and the only reason anybody reads the site), Bess Levin, to agree to the deal.
So Levine (now an Associate Editor at Dealbreaker) probably isn’t pulling in even half what he used to make, but he has a Harvard undergrad degree and a law degree from Yale (according to LinkedIn), so he’ll be fine.
Let’s just hope the commenters treat him better than the last guy who tried to write for Dealbreaker.
He quit in May, so he could start by the end of the month.