Goldman Sachs - "In humane" working conditions?

[saptastic]

"Should I feel sorry for them? No, there are 10,000 people wanting their jobs and they're paid more than any other sector. This is what we have all had to go through," said an investment banker

https://www.theguardian.com/business...ork-conditions

£50k starting salary + bonus

Sympathy required or woke culture spreading even to investment banking?

[ladymuck]

I think your second sentence explains exactly how they get away with it.

With the amount of hours some work, that £50k works out less than minimum wage. They have to sign away the right to a max 40 hour working week to get the job. It's one thing to prove yourself worthy of having a good job, it's another to be pushed so hard that you'd literally be earning more per hour stacking shelves in Tesco.

Investment banks are toxic environments and I think it's right that people get to see that it's not all coke, hookers and champagne. There's a lot of people down the lower rungs of the ladder slogging their guts out for a psychopathic boss just for the "honour" of working for that firm. Not everyone has a working week like Tarbs.

[jayn200]

I don't know how it is woke culture to complain about working 100+ hours a week (if that is indeed accurate). That's a perfectly reasonable complaint. I have had to work those hours before, as I'm sure most of us have had to, but never for months on end. I wouldn't do it... would anyone here do that for 50k? I wouldn't do it for 200k. I'd rather earn 25k at a 9-5.

I have a hard time believing it though. People exaggerate and are horrible at estimating stuff like this so unless it was rigorously tracked I don't think I believe it.

[ladymuck]

Oh, and it's inhumane. It's right there in the headline...

[TwoWolves]

It's all true, not just Goldmans but they are one of the worst.

My wife is ex. Goldman's and I got an offer from them in 2005 but got to the last interview where I met the team; they were all red-eyed and looked exhausted and stressed. The Manager clearly ruled through fear and nobody seems happy or proud of their work.

So I turned it down and took a role at another bank, which incidentally paid the same rate. They don't even pay the contractors well.

[Fraidycat]

There is a small percentage of the population that is highly conscientious, in other words Workaholics.

For these kinds of people it is not inhumane at all, in fact they love it, for them having little or no work to do would be the inhumane thing.

The problem is if you aren't that personality type, you are not going to be very happy working long hours.

With the amount of hours some work, that £50k works out less than minimum wage. They have to sign away the right to a max 40 hour working week to get the job. It's one thing to prove yourself worthy of having a good job, it's another to be pushed so hard that you'd literally be earning more per hour stacking shelves in Tesco.

100 hours a week for 46 weeks for 50K would £10.86 per hour.
Thats equal to the London Living wage, which is currently £10.85 per hour.

I wouldn't do it... would anyone here do that for 50k?

Not now, but if i had just graduated and and wanted a career in the City i would jump at it. Although i doubt any IT graduates are expected to work those hours.

[NotAllThere]

There is a small percentage of the population that is highly conscientious, in other words Workaholics..

Quite different things. But perhaps it comforts you to think that your lack of a life is a sign of conscientiousness?

[ladymuck]

100 hours a week for 46 weeks for 50K would £10.86 per hour.
Thats equal to the London Living wage, which is currently £10.85 per hour.

I know you think that you've put forward a compelling argument in favour of investment banks there, but you really haven't.

[AtW]

Nobody said doing God's work would be easy.

[mattster]

would anyone here do that for 50k? I wouldn't do it for 200k. I'd rather earn 25k at a 9-5.

But it's not about what you earn during those first years, it's about what you could potentially earn once you've made a career for yourself in investment banking. See also; interning at law or media firms, junior doctors, pupillage at a barristers' chambers etc etc.