Goldman Sachs Allows Senior Staff to Take Unlimited Vacation
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The new vacation policy comes more than a year after junior analysts at the bank complained of 100-hour work weeks and declining physical and mental health in "inhumane" conditions.
Goldman Sachs Group Inc. will allow senior staff to take an unlimited number of vacation days, the latest move by a Wall Street bank to retain talent in a heated job market.
Partners and managing directors at the New York investment bank can take time off when needed "without a fixed vacation day entitlement," according to a company memo seen by Bloomberg. Junior employees still have limits on vacation but will be given at least two extra days off each year under the new policy that was introduced at the start of the month.
All Goldman employees will be required to take three weeks off each year starting in 2023, the memo said. That includes at least one week of consecutive time off.
The new vacation policy comes more than a year after junior analysts at the bank complained of 100-hour work weeks and declining physical and mental health in "inhumane" conditions. That reverberated across Wall Street with firms pledging to do more to improve the work-life balance of their staff.
