Goldman’s Unlimited Vacation Is a Mirage for Workaholic Bankers

Goldman Sachs Group Inc.’s move to offer senior bankers unlimited time off seemingly marks a step toward a softer side of Wall Street. But there’s policy, and then there’s practice.

Companies are experimenting with all sorts of employee-friendly policies -- the four-day workweek, no-meeting Wednesdays, more casual dress codes -- but unless they’re embraced by the firm’s leadership, they won’t make much of a difference. In a banking world where long vacations are generally frowned upon, providing partners and managing directors all the time off they want doesn’t matter if they simply don’t take it.