GOLDMAN SACHS ANALYST QUOTE: I’m in a really dark place.
Posted on 03/20/2021
A group of 13 first-year analysts at Goldman Sachs created a professional-looking presentation in the company’s style. The analysts called it the “Working Conditions Survey,” which polled the “self-selected” 13 analysts. The presentation circulated on social media. These analysts are assumed to be working in the investment banking division of Goldman Sachs.
There is pushback among many in the industry as investment banking analyst work is known for long-working hours in hopes of larger bonuses and a lucrative career path in the deal-making community. Investment banking is famous for its obscenely long hours. 100 hour weeks can happen. Junior banking analysts spend hours and hours working in excel spreadsheets, researching financials, and making pitchbooks.
Working Conditions Survey (unofficial)
Goldman Sachs & Co. LLC
February 2021
Select Analyst Quotes
“The sleep deprivation, the treatment by senior bankers, the mental and physical stress…I’ve been through foster care and this is arguably worse”
“I can’t sleep anymore because my anxiety levels are through the roof”
“My body physically hurts all the time and mentally I’m in a really dark place”
“Being unemployed is less frightening to me than what my body might succumb to if I keep up this lifestyle”
“There was a point where I was not eating, showering or doing anything else other than working from morning until after midnight”
“I didn’t come into this job expecting a 9am-5pm’s, but I also didn’t expect consistent 9am-5am’s either”
“What is not ok to me is 110-120 hours over the course of a week! The math is simple, that leaves 4 hours a day for eating, sleeping, showering, bathroom and general transition time. This is beyond the level of ‘hard-working’, this Is inhumane / abuse”
Some questions that were answered in the investment banking division survey.
1st year analysts report that the stresses of work have been detrimental to both their mental and physical health
Rate your mental health before and after starting this job (1-10, with 10 being healthiest)
8.8 Before, 2.8 After.
Have your work hours negatively impacted relationships with family and/or friends?
100% Yes
Do you feel like you’ve been a victim of workplace abuse?
77% Yes