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Goldman’s First-Year Bankers Beg to Work Only 80-Hour Weeks in Stinging Deck

  • Analysts complain of declining physical and mental health
  • Bank says it’s addressing first-year bankers’ concerns
Bloomberg business news
WATCH: Goldman Sachs Group Inc. is reportedly bring in changes to make the workload more manageable for junior bankers. (Source: Bloomberg)

Hundred-hour weeks on the job. Declining physical and mental health. The heightened chance of fleeing the bank in very short order.

Those are among the laments of 13 first-year analysts in Goldman Sachs Group Inc.’s investment-banking group who surveyed themselves, according to a presentation making the rounds on social media. They shared their findings with managers. The grousing was serious enough that the Wall Street firm is enacting new measures, including forgoing some business to help keep the workload more manageable, according to a Goldman executive with knowledge of the matter.