Goldman Is Telling Its Young Bankers That It's Cool To Take The Weekend Off

Goldman Sachs is telling its young, starry-eyed investment bankers to go ahead and
take the weekend off, Bloomberg’s Michael J. Moore reports.

The company convened a “junior banker task force” earlier this year that has reevaluated the demand placed on new employees. And they’ve apparently decided to take it easier on the little guy. From Bloomberg:

“The goal is for our analysts to want to be here for a career,” David Solomon, Goldman’s co-head of investment banking, said in an e-mailed statement. “We want them to be challenged, but also to operate at a pace where they’re going to stay here and learn important skills that are going to stick. This is a marathon, not a sprint.”

The development comes at a time when young banker stress is under particular scrutiny. In August, Bank of America intern Mortiz Erhardt passed away after reportedly working consecutive all-nighters at the bank’s London office.

Is Goldman’s change a real shift in policy? Or is it more a “don’t work on weekends but do work on weekends wink wink” kind of thing? Only time will tell.

Read the full report at Bloomberg »

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