Goldman Sachs Bankers Complain of Long Work Hours, Declining Mental Health

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Bloomberg Quicktake: Now published this video item, entitled “Goldman Sachs Bankers Complain of Long Work Hours, Declining Mental Health” – below is their description.

Hundred-hour weeks on the job. Declining physical and mental health. The heightened chance of fleeing the bank in very short order.

Those are among the laments of 13 first-year analysts in Goldman Sachs’s investment-banking group who surveyed themselves, according to a presentation making the rounds on social media. They shared their findings with managers. The grousing was serious enough that the Wall Street firm is enacting new measures, including forgoing some business to help keep the workload more manageable, according to a Goldman executive with knowledge of the matter.

Wall Street has long been the industry of choice for those who can tolerate long hours, and that’s proven even more true during the pandemic. But complaints of not having time to eat or shower, appearing in the deck, are at odds with the softer, kinder Wall Street that senior industry executives have presented in a bid to attract and retain talent.

Author Bill Keenan joined Quicktake’s Madison Mills and Scarlet Fu to discuss.

Bloomberg Quicktake: Now YouTube Channel

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Bloomberg L.P. is a privately held financial, software, data, and media company headquartered in Midtown Manhattan, New York City.

It was founded by Michael Bloomberg in 1981, with the help of Thomas Secunda, Duncan MacMillan, Charles Zegar, and a 12% ownership investment by Merrill Lynch.

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