GOLDMAN SUCKS!

Young bankers rip ‘inhumane’ 100-hr. work weeks

Goldman Sachs underlings say grueling, 100-hour weeks have damaged their health — and they claim the relentless grind has pushed them closer to ditching their coveted jobs at the Wall Street giant.

The gripes come from a disgruntled group of 13 first-year analysts in Goldman’s investment-banking unit who surveyed themselves about their work woes — and then organized them into a PowerPoint presentation that has since spilled onto social media.

The leaked slideshow, which was shared with managers, includes testimonials of working 20-hour shifts that one worker called “inhumane.”

“What is not ok to me is 110120 hours over the course of a week! The math is simple, that leaves 4 hours for eating, sleeping, showering bathroom and general transition time. This is beyond the level of ‘hard-working,’ it is inhumane/abuse,” the analyst complained.

“The sleep deprivation, the treatment by senior bankers and physical stress… I’ve been through foster care and this is arguably worse,” another added.

“My body physically hurts all the time and mentally I’m in a really dark place,” yet another kvetched.

The report even includes bar charts showing the analysts’ deterioration from job stress. Before they arrived at Goldman, the analysts rated their mental and physical health on a scale from 1 to 10, with 10 being the healthiest, at 8.8 and 9, respectively. Since then, those numbers have plunged to 2.8 and 2.3, according to the bar charts.

In conclusion, the analysts suggested solutions such as maxing out their workweeks at 80 hours and avoiding lastminute changes to presentations for client meetings — a dig at Wall Street’s constant “pls fix, thanks” culture.

“Junior bankers should not be expected to do any work after 9 p.m. Friday or all day Saturday without a pre-approved exception, as that is the only safe-guarded personal time that we get,” they wrote in the presentation.

Wall Street is known as an industry with long hours. But during the pandemic, with no set time to clock in and clock out, complaints of not having time for basic needs like eating and showering are on the rise.

“I didn’t come into this job expecting 9am-5pm’s,” said one survey respondent. “But I also didn’t expect consistent 9am-5am’s either.”

In response, Goldman is enacting new measures that include forgoing some business to help keep the workload manageable, according to a Bloomberg report that cited an unnamed Goldman exec.

“We recognize that our people are very busy, because business is strong and volumes are at historic levels,” said Nicole Sharp, a spokeswoman for Goldman Sachs. “A year into COVID, people are understandably quite stretched, and that’s why we are listening to their concerns and taking multiple steps to address them.”

Anger has been bubbling at Goldman following a report this week that Goldman Sachs CEO David Solomon has been living the high life while his employees toil day and night.

Solomon recently jetted off for weekend getaways seven times in as many weeks on Goldman’s private Gulfstream jet — including four trips to the Bahamas, according to Bloomberg.