My flask is half full
- Apr 5, 2020
Goldman Sachs boss David Solomon has heard the complaints from junior bankers about their 100-hour work weeks — and he promises he’ll try to give them Saturdays off. In a voice memo lat…
Analyst writes -
“What is not ok to me is 110-120 hours over the course of a week! The math is simple, that leaves 4 hours for eating, sleeping, showering bathroom and general transition time. This is beyond the level of ‘hard-working,’ it is inhuman/ abuse,” one analyst griped.
“My body physically hurts all the time and mentally I’m in a really dark place,” another kvetched.
The report included bar charts showing the analysts’ deterioration from job stress. Before they arrived at Goldman, the analysts rated their mental and physical health on a scale from 1 to 10, with 10 being the healthiest, at 8.8 and 9, respectively. Since then, those numbers have plunged to 2.8 and 2.3, respectively, according to the bar charts.
...Although Solomon acknowledged a recent, heavier-than-usual workload in his Sunday note, he said long hours also have been good for business and that more long nights are in the future.
“The good news is, volumes are up because we have an opportunity to work with our clients on so many interesting things right now,” Solomon said. “In the months ahead, there are times when we’re going to feel more stretched than others, but just remember: If we all go an extra mile for our client, even when we feel that we’re reaching our limit, it can really make a difference in our performance.”
Guy sounds like a piece o’ work alright (no pun). Yeah I’m sure all he’s doing on those trips to the tropics is work, while he chides the work at home initiative. Also doesn’t sound like much will change for the betterment of the employees’ situation any time soon. What in the world of banking exactly requires that much human effort with all the technology we have now anyways? Good grief. I doubt it’s interacting with customers given the new norm and the fact they probably half look like zombies from the physical toll 20+ hour days take.