Contracting at Goldman Sachs?

**stek** · 17 March 2011, 00:28

Originally posted by kevinlam View Post

Hi all,

What is it like contracting at Goldman? I know that working there as a permie means 60-70 hours a week, but as a contractor, i suppose you could probably stick to your 9-5:30pm?

Is it possible in reality?

I have worked at another european iBank as a permie and the hours are not that bad, but I know Goldman's reputation.

The role is for mid/back office.

Any help would be very much appreciated.

Regards,
Kevin

I'd go with the rep you know then.

**speedo** · 17 March 2011, 07:24

is it not stated in the contract?

**Scrag Meister** · 17 March 2011, 08:11

I expect like any other IB it doesn't depend so much on the Company but on the individual manager that you end up with.

I've been very lucky and always managed 8-5 without any issues from the manager.

Obviously they breed their managers slightly differentely at GS

**kevinlam** · 17 March 2011, 08:13

I would have thought the contract is quite common to say it's 9-5, but requires working extra hours if necessary because it's a day rate?

Sorry I am new to contracting, should I stick with the 9-5 on the contract if that's what it says?

**craig1** · 17 March 2011, 09:02

Originally posted by kevinlam View Post

I would have thought the contract is quite common to say it's 9-5, but requires working extra hours if necessary because it's a day rate?

Sorry I am new to contracting, should I stick with the 9-5 on the contract if that's what it says?

One of the key benefits of being a contractor is that you don't have to impress the boss by proving your dedication to the job. You've already proven by interview and CV that they want to hire you for your expertise and, unless you're aiming for a permietractor role, then doing lots of hours for free to bumlick your boss is daft.

Three options really
- if you want 9-5, make that clear from the start.
- if you don't mind long hours then renegotiate your daily rate to match the expected hours or, preferably, get an hourly rate
- go elsewhere

**Spoiler** · 17 March 2011, 12:06

Originally posted by kevinlam View Post

Hi all,

What is it like contracting at Goldman? I know that working there as a permie means 60-70 hours a week, but as a contractor, i suppose you could probably stick to your 9-5:30pm?

Interesting - I've just been approached for a permie job at GS, not got to the interview stage yet. So, is the long permie hours a general thing there?

**BlasterBates** · 17 March 2011, 12:57

It is indeed you won't be going home before 9.

There are two types of banks, real Investment banks where people work themselves to death and then then the high street banks which have an investment arm like BarCap, these are 9 to 5 usually.

I would imagine the expectations on contractors at GoldmanSachs are similar, and from above it even looks like there is a "work to death" clause in the contract.

I would add that I've never worked there but I did have a friend quite a few years ago who did, and it was a miserable life. However it looks good on your CV and if you can stick it for a couple of years could be a good springboard.

**kevinlam** · 17 March 2011, 21:32

That's a good point. I think I will make that clear at the start. If they offer daily rate, would they usually say the exact hours in the contract usually?

Is it usual to ask for an hourly rate if their offer is a daily rate?

**downsouth** · 17 March 2011, 22:36

a monthly rate??? sure it aint a permie role!

I'd be inclined to ask about the 'working hours' then if its defo not 9-5 then ask for a hourly rate as suggested, but be prepared to walk away if its not to your liking, long hours can very quickly get you down esp if you have a commute at end of the day.

no good bouncing off the pillow just for the sake of having GS on the cv.

Contracting at Goldman Sachs?