Can someone expand on the culture at Goldentree please? I've gone through all the threads in this forum and seems like it's a very difficult place to work. Can people talk about turnover, job security, and specifics on what makes it challenging to have a long career there? How do they do their performance evaluation and attribution?
Thanks!
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It is not good. Smart people, not great culture.
I would avoid. They are well known even off this forum for having a poor culture.
Can anyone who’s had exp there or a friend speak to this?
Tananbaum is one of the best credit investors of the past twenty years. He’s also likely the most engaged PM of anyone with his longevity and success in credit markets. They have a strong business across many verticals and while friends who work at goldentree say the culture is demanding and expectations are high maybe that’s why they keep winning while other firms of similar vintage have struggled as their founders have aged and the market opportunity set has changed.
Hi Steve
lmao hello HR
Know a guy that was a PM under Tananbaum when he was a MacKay Shields and said when he would go home he didn't know if he would get fired or promoted the next day -- guy practically judged PM's P/L by the minute. As others have said, the culture is extremely intense but pay is great.
Have known a few ppl that went through there with all super short tenures. It's the type of firm that's always hiring as turnover is super high. Sure Tananbaum is a super smart guy, but day to day, it's like walking on egg shells when he's around. If you're one of his long term lieutenants, you're doing great. Otherwise, consider yourself highly disposable & likely to be blamed when things go wrong.
They also have this strange database that every credit is suppose to confirm to and be included in. They use this in all their marketing decks.
The positive thing is if you're the rare person who can both make money and handle the culture, you'll get paid well....if you last long enough...
What Telemachus said is 100% true. They try to portray a culture that is friendly and tells you that it's not sharp-elbow at this firm and it's collaborative but the truth of the matter is that it's always been toxic, everyone talks about each other, there are cliques among cliques and no one works together. You cannot change the culture just be hiring new people and telling them that this is the new culture. Culture comes from top down through actions and it is the most toxic place. It's not an in your face toxic where people say that they're thinking like on the sell-side, it is indirect and fake to your face and then they fire you without any warning because someone didn't like the tone in how you responded to a question. Biggest career mistake and would not even recommend to my worst enemy. Rather work at Jefferies or any other place on this planet.
anyone know what happened to the former president?
Pulled out of a process with them because heard Tananmbaun is a nightmare. Overall think comp is good and smart investors though.
nightmare in what sense?
^same. recently passed on them. Strikes me as a "knock off brand Apollo" with worse pay/culture and same hours. Half their AUM is low fee product. No desire to spend significant time covering low spread, par loans for their CLO/fixed income platform, which is necessary in their coverage model. A friend recently left there and suggested that 99% of employees hate it, hence why they are always hiring.
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