Take a look at the Goldman Sachs site on The Layoff. There is barely one post per month. Yet look at all of us over here at BNY… it really says something. I’ve heard they’re just as bad, but it’s something to think about.
3 replies (most recent on top)
Context - GS is absolutely brutal. Every year the bottom 15 to 20% are gone. No if’s buts or maybies. They hold their staff to significantly higher standards than BNY. They expect massive amount from you and forget about a personal life outside of business . The trade off … big salaries big bonuses. Frankly speaking the people that come here are likely the ones that got let go or the ones that want to be able to work and have a life so will trade salary for work life balance. I worked at GS for 5 years and was pushed to the brink of a nervous breakdown.
The pay ranges (and actual salaries) at GS are much higher. We know our ranges and actual salaries are low compared to the industry. Makes me wonder why people would leave GS to come work with us. Do you think they are being paid the same low rates as the rest of us legacy employees?
an investment bank with high compensation and a known cultural of "up or out"? Yeah why would people willingly joining that firm have a different outlook than BNY which is literally the plumbing of the banking industry. Low wages, different workforce.
Who could have foresaw the cultural resistance from their attempt to literally change the culture to something worse overnight?
Our leaders are fools, but you're right they do compare us to GS which reveals their (and potentially the posters) low IQ.