As someone who spent several years working for the firm I can confirm that this is absolutely the case. Like most people, I had the impression the firm was razor sharp, highly competitive and genteelly aggressive. Turns out I was very wrong. What I actually found at Goldman was an organization populated by some of the smartest and nicest people I have ever met. Far from being a place of competition and aggression, Goldman was the lowest conflict, highest consensus environment I've worked in.
There's a reason for this. Instead, Goldman chooses people that it finds interesting ie. That is why, when you work there, you will find successful sports people, musicians, charity supporters. It's also why Goldman famously interviews new people twenty or more times - there has to be consensus that they're a 'good' hire - in the sense of being a good person as well as a good contributor to the bottom line.
Goldman's low conflict, high consensus approach is also encouraged by the firm's 'crossing-ruffing' process, which it uses when appointing MDs and Partners. This process canvases opinion on candidates from colleagues across the organisation.
Instead, it's more like the veto process in the European Union - if one person disagrees, the promotion is unlikely to go ahead. When you work for Goldman, a poor report from a colleague can therefore bring your ambition to a screeching halt, and no one there really knows who will be canvassed when the day comes.
For this reason, it's very important that everyone likes what you are doing as you rise through the ranks. This means there are plenty of coffee chats. It also means that working there is about having everyone else's back, not pushing aggressively for your own gain.
This can come as a shock to those who don't understand how Goldman works. The environment is collaborative. The target companies are well known. Pros Challenging work, smart collegues. Cons Hours sometimes long. Company does not care about you.
Stressed environment. A lot of food given to cover untrained managers and bad programs to serve clients. Pros Pizza parties. Cons Everything. Yes There are 1 helpful reviews 1 No. Lots of interesting clients and things to do.
I wish I could live here forever and do this type of work! Pros Fun. Above the market in many areas, but needs some improvements Corporate Controller Current Employee - London - August 8, Pros Above the market in nearly all areas. Cons Should watch out for new disruptors as a bit to comfortable. Better pay to support staff is needed.
Only VPs and MDs are paid well. Great people though, for the most part. Benefits are great, especially if you have a family.
Pros Name gets you to other places, benefits. Cons Too many cooks in the kitchen, lack in consistent compensation. The people are always helpful and willing to give you guidance. Everyone is highly respected. People value their work a lot and they take full responsibilty for their work. Claimed Profile. Want to know more about working here? Ask a question about working or interviewing at Goldman Sachs.
Our community is ready to answer. Ask a Question. Overall rating 4. Women's ratings 3. Powered by. Compare Goldman Sachs with. Morgan Stanley 3. Deutsche Bank 3. Credit Suisse 3. UBS 3. Barclays 3. BlackRock Inc. JPMorgan Chase 3. Citi 3. Yes, says Keenan, the environment was hard. Bill Keenan worked in investment banking for about two years, often pulling long hours Credit: Bill Keenan. Another element boils down to respect. There are a mix of factors at play: the ubiquity of social media, where the survey initially appeared; the rise of a generation more conscious of workplace toxicity and mental health ; and a general sentiment of activism for equity.
The pandemic may have become a factor, too. Keenan notes that, from his experience, office camaraderie was one of the things that buoyed him through the worst days. In isolation during forced remote work, many of these tough experiences may be made even tougher, exacerbating their effects.
So, could this uncharacteristic boldness — even if led by only a few employees, all protected by anonymity — mark the start of meaningful transformation?
Perhaps a new cohort of values-centric workers could pressure a seemingly ingrained culture to budge — something that Di Fronzo says his graduates increasingly desire. Unfortunately, it may not be that simple. Despite an environment that may be riper for status-quo disruption than ever, change driven by this most junior tier of the workforce may not be on the horizon anytime soon — or, perhaps, even realistic to expect.
That may make it particularly hard for a new class of workers to revolutionise much of anything — no matter how much their values diverge from those who came before them.
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