Contracting at Goldman Sachs?

[PropertyCrashUK]

My IB experience has been better than yours and still is.

In around 7:45-8, before everyone else, and out at 5-5:15, once again before everyone else.

Out for a couple of smoke breaks, lunch min 30 mins.

Let the permies whinge. They are all fighting to get up the ladder quicker than everyone else, so glad I'm not part of that game.

Have to say that I worked for one pr*ck manager in a IB bank in the City. He had serious communication & control freak issues and was a bully.

Worse, he surrounded himself with a couple of 'supporters' and he used to bully the Brits of Indian descent permie coders terribly.

That was 12 years ago.

I hope he had changed for the better.

[BlasterBates]

As long as there are some decoys to take the flak. Always good to bring along some duff programmers with you.

[gemasp]

Currently at GS

I am on contract at the moment with GS. So can answer on your questions in a real time.

I am working 9 to 6 as I have agreed with my manager at very beginning of my contract. Most of permies doing 8:30-9 till 6:30-7-8-9pm, depending on projects, deadlines etc.

I have stayed a couple of times till 7:30 max. Worked a couple of times from home in the evening during releases for 1 hour max.

Canteen is very good. I have gained 5kg because of that. They have internal gym but it is not allowed for contractors.

Any questions welcome.

[Anubis]

gemasp; good to know someone there right now.

If you've worked in other IB's, how would you say GS differs if at all? Is it really all work and no play? Is the environment constant stress and long hours?

The reason I ask (and probably a lot of others too), is that as word goes around it becomes Chinese whispers, thus the truth often gets exagerated. There's always someone doing mad 70+ hour weeks, but if you kept it up you'll burn out; Goldman or no Goldman a lot of staff would leave.

Do you find a high turnover of staff there? Or do people seem to enjoy it and stay for a few years? I know if you're at the top you'll stay due to the mega bonus and it's worth it but for the little guys - what is it like?

In terms of other banks, would you say from working there it's a cut above the rest or pretty much like all the others but with longer hours? Are the staff work obsessed or are they normal and have lives in the outside world?

Would be good to hear on your views...

[russell]

In your contract it will state the working hours you are expected to do, 99% of the time this is between 35-40. Regardless of wether this is Golman Ballsacks or Daves Whizzy Websites, thats the hours you need to do and the hours you will get paid for. If you are asked to do more then you must ask to be paid for each hour you work extra.

[gemasp]

If you've worked in other IB's, how would you say GS differs if at all? Is it really all work and no play? Is the environment constant stress and long hours?

The reason I ask (and probably a lot of others too), is that as word goes around it becomes Chinese whispers, thus the truth often gets exagerated. There's always someone doing mad 70+ hour weeks, but if you kept it up you'll burn out; Goldman or no Goldman a lot of staff would leave.

Do you find a high turnover of staff there? Or do people seem to enjoy it and stay for a few years? I know if you're at the top you'll stay due to the mega bonus and it's worth it but for the little guys - what is it like?

In terms of other banks, would you say from working there it's a cut above the rest or pretty much like all the others but with longer hours? Are the staff work obsessed or are they normal and have lives in the outside world?

Would be good to hear on your views...

Well, I wouldn't say it is much stress for me. Certainly not for me. :-) I am here 9 to 6 and I didn't have any stress so far. Bear in mind I've been here only for 6 months and there are still 6 months to go.

Permies as I said are working longer hours. Not sure how much longer because obviously I leave at 6pm. One teammate said he usually does 10 hours.

My problem is that I am the ONLY contractor among like 50+ strong team. Which is a bit unusual for me. Other banks I worked for had plenty contractors working along with me.
Permies here are not very friendly to contractors and I have not made any good friends so far. So not sure if they are interested in anything outside of work. May be work is their only hobby and interest in life.
I have a family and interests outside of work so long working hours certainly not for me.

Btw it is 6pm and I am going home. To be continued...

[DeludedAussie]

Well, I wouldn't say it is much stress for me. Certainly not for me. :-) I am here 9 to 6 and I didn't have any stress so far. Bear in mind I've been here only for 6 months and there are still 6 months to go.

Permies as I said are working longer hours. Not sure how much longer because obviously I leave at 6pm. One teammate said he usually does 10 hours.

My problem is that I am the ONLY contractor among like 50+ strong team. Which is a bit unusual for me. Other banks I worked for had plenty contractors working along with me.
Permies here are not very friendly to contractors and I have not made any good friends so far. So not sure if they are interested in anything outside of work. May be work is their only hobby and interest in life.
I have a family and interests outside of work so long working hours certainly not for me.

Btw it is 6pm and I am going home. To be continued...

Very interesting

I would like to know

1) How many staff have come and gone in those 6 months

2) How much of your time is spent actually programming versus bullcrap like meetings and planning

3) Is any of the work outsourced and do you have to spend time with a team in India

4) Do you expect to get renewed?

[Jason]

When I contracted on a day rate (permy now, but only for a few weeks more). I defined what a day was (usually a maximum of 8 hours working). Anything above that was deemed, enhanced requirements, and needed additional payment at a premium rate. I looked at it this way. If you are a contract for 9 - 5 support and need to talk to the person outside of that time, you have to pay, and pay a lot.

I once got a 5k one of payment for answering the phone at 3am and after negotiation, spending 20 minutes dialed in and fixing the issue.

[Jason]

Oh, last bank I worked for was Alliance and Leicester, before Santander took over. The last go-live cutover I did with them I got a cool 8k as I was expected to be there for 48 hours straight. Damn but when you are tired, those sofas in the break out rooms are comfy.

[nomadd]

In your contract it will state the working hours you are expected to do, 99% of the time this is between 35-40. Regardless of wether this is Golman Ballsacks or Daves Whizzy Websites, thats the hours you need to do and the hours you will get paid for. If you are asked to do more then you must ask to be paid for each hour you work extra.

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