Goldman bankers get Saturdays off | LinkedIn (2024)

FAQs

What is the Goldman Saturday rule? ›

One of the analysts' pleas to management — in addition to capping workweeks at 80 hours — was to better enforce the “Saturday rule,” which stipulates that junior staff should not be expected in the office between 9 pm Friday and 9 am Sunday.

According to the New York Post, “In a voice memo late Sunday, the hard-charging chief executive [David Solomon of Goldman Sachs] told employees he will 'strengthen enforcement' of the Wall Street giant's 'Saturday rule' — which means that employees cannot work from 9 p.m. Friday to 9 a.m. Sunday except in certain ...

"While there is flexibility when needed, we are simply reminding our employees of our existing policy," Jacqueline Arthur, Goldman's global head of human capital management, said in a statement. "We have continued to encourage employees to work in the office five days a week."

Goldman Sachs just upped the ante on the remote work reckoning. The company is asking workers to come back to the office five days a week, according to a Bloomberg report. This is a much stricter policy than many other corporations, who have asked employees to return for at least two to three days a week.

The Goldman Sachs 15-Minute Rule You have to respond to an email within 15 minutes, no matter what. Even if that just means acknowledging the email and saying "Will be back shortly on this". It's an unspoken rule.

Investment banking requires a high level of adaptability, and you're required to respond quickly to new projects and needs of clients. In some cases, a client might require immediate input, even late at night or during weekends.

Under the new policy, more than 1,400 senior bankers will no longer have a cap on their time off, while Junior employees will get two extra days off. However, according to the Bank, all employees will be expected to take a minimum of 15 days a year beginning in 2023.

Management can be challenging at times. workload can be high. culture is competitive and career outlook is rough.

With hundreds or thousands of applicants for every job opening, getting into this company is notoriously hard. The study says that Goldman receives at least 300 applications at every job it posts while the hiring percentage remains 0.33%. But last year, the job application acceptance rates rose to 1.27%.

How much does Goldman Sachs in the United States pay? The average Goldman Sachs salary ranges from approximately $42,891 per year for Customer Service Representative to $192,700 per year for Vice President of Human Resources.

How long do employees stay at Goldman Sachs? ›

- Saving Specialist Goldman Sachs Employee Review. Great benefits that are given on the spot. Near impossible to move up and a lot of corporate politics.

Goldman Sachs is widely known as the most prestigious investment bank on Wall Street. The bank's interns receive phenomenal training, hands-on experience, and the opportunity to rotate across many groups and desks.

Business and Banking Days

Even though a bank may be open for regular business on a Saturday, that day is not considered a banking day for purposes of Regulation CC because Saturday is never a ''business day'' under the regulation.

The legal weekdays (British English), or workweek (American English), is the part of the seven-day week devoted to working. In most of the world, the workweek is from Monday to Friday and the weekend is Saturday and Sunday. A weekday or workday is any day of the working week.

A banking day is any day on which banks are open to the public and are generally carrying on their normal banking functions. A banking day is generally any day except Saturday, Sundays and legal holidays.

Goldman Sachs is pushing employees to return to the office full-time after senior managers grew frustrated by some staff who've failed to follow its five-day-a-week policy, Bloomberg reported.