Goldman’s top brass are entitled to unlimited vacation while juniors are entitled to two extra paid days off
Goldman Sachs top brass are entitled to as much vacation time as they want, while junior staff were only given two extra days of annual leave, an internal memo revealed.
Caps on the number of paid vacation days associated and managing directors of the Wall Street titan were scrapped earlier this month under a new “flexible vacation” policy.
The news was first reported by The Telegraph.
The move stands in stark contrast to Goldman’s historic reputation for having one of the most intense work cultures on Wall Street.
Companies are trying new incentives to attract and retain staff in a tight job market in the financial services sector.
Last year, a group of junior corporate bankers went viral after slides of a presentation to senior executives were leaked pleading with them not to work more than 80 hours a week.
“As a company, we are committed to providing our employees with differentiated benefits and offerings to support wellbeing and resilience,” the internal memo reads.
Junior staff will get two extra days off every year under the new policy.
AM City has contacted Goldman Sachs for comment.