Goldman Sachs Raised Salary After Junior Bankers’ Complaint
Young bankers are not happy with the working conditions at Goldman Sachs, the famous American multinational investment bank and financial services company. Earlier this year, 13 first year bankers submitted a presentation to the management highlighting this issue. These bankers worked 95 hours per week and slept only for five hours. The long working hour affected their health and personal relationships. The bankers said that they would quit their jobs within six months unless things improve. The sleep deprivation, the treatment by senior bankers, the mental and physical stress… I've been through foster care and this is arguably worse," said one. Another remarked: "This is beyond the level of 'hard-working', this is inhumane/abuse. After the complaint Goldman Sachs increased their salaries. Junior bankers would receive a basic pay of $1,25,000 sans bonus in their second year. The news vexed the veterans. Xavier Rolet, a former Goldman Sachs analyst said t...