Why I Am Leaving...

...Goldman Sachs.

http://www.nytimes.com/2012/03/14/opinion/why-i-a…

Came across this interesting article, that may/may not be of interest to most of you on here.

I'm not sure whether its just a cause of the growing resentment of bankers or he genuinely feels this way, he paints a grim picture.

 

Powerful read... and personally it really speaks to me because I am soon to leave the toxic team that currently work on. The vast majority of them severley lack integrity and are filled with a disgusting sense of entitlement. They frequently use under-handed and backstabbing tactics... boy i tell ya' govt employees SMFH

Get it!
 
Best Response

Hence why I lasted only 6 months in IB. The long hours, rampant chauvinist aphla environment, chav-like behaviour etc...all nesteled within the confines of egotistical psychopaths with deep inferoirity complexes.

But at the same time I have little sympathy for banking clients who are so greedy that they buy all of the BS that's excreted from the likes of GS. Companies paying exorbitant fees to some IBer to structure a masssive & complex deal based on caveman forecasting models. Even the modelling tutorials on this site are a joke.

edit: call me the cynic but I also suspect that this is a cheap attempt by Mr Smith get that halo on his head & achieve some level of moral celebrityhood in finance. Just sayin.

__________
 

"Mr. Smith described himself as an executive director and head of Goldman’s U.S. equity derivatives business in Europe, the Middle East and Africa.

A person familiar with the matter said Mr. Smith’s role is actually vice president, a relatively junior position held by thousands of Goldman employees around the world. And Mr. Smith is the only employee in the derivatives business that he heads, this person said." http://blogs.wsj.com/deals/2012/03/14/goldman-rejects-claims-made-by-di…

 

Provident voluptatum quia provident rem sit natus fugiat. Debitis perferendis officia et ab delectus. Illum omnis voluptas assumenda porro. Cumque tempora ea at id quas corrupti necessitatibus.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”