Many current and former Goldman employees talk about the firm, without irony, as it were the New Testament God: paternalistic, largely benevolent, ever patient, ever forgiving, ever indulgent of the capers and errors of mere mortals, ever willing to give second chances and route unhappy employees to different areas of the firm where they may thrive.It’s a God that requires frequent confessionals, as one senior banker there explains: “There is a culture at Goldman which is very strong and clear, which is: it’s okay to make mistakes, as long as you own up to them right away.” The firm’s dating protocols—by all accounts little-known—don’t ban dating within the firm but instead require employees to disclose their relationships to their direct manager, who can contact what one alum wryly calls “ the inappropriate-behavior SWAT team.”By all accounts, this is taken seriously.
Hill and others complained, and in 2000, Hill and others complained to Goldman and succeeded in equalizing the reviews.
The process isn’t necessarily always fair, depending as it does on the discretion of the individual boss.
The firm’s dating protocols….require employees to disclose their relationships to their direct manager, who can contact what one alum wryly calls “ the inappropriate-behavior SWAT team.”Every banker on Wall Street believes he works in a meritocracy, but no one can explain why that meritocracy would be composed overwhelmingly of men of the same race and sexual persuasion. The Wall Street Journal recently reported that the ranks of women in finance have thinned by 2.6% while the number of men boomed by 9.6%.
There is no shortage of diversity efforts for women, but the often unspoken problem is that where diversity efforts run into the shoals is this one thorny area: sex.
Neither of them reported it to human resources—which would have been required- but the gossip mill churned and soon the firm’s managers found it out.
It was probably the most expensive kiss of the banker’s life: at the end of the year, Goldman chopped his bonus by 25% for bad judgment, this person said. Goldman’s favorite option, however, is just to separate people and ship them off to other divisions.Goldman isn’t particularly unusual in having a disclosure policy; it’s just unusual because people seem to follow it.This is, it’s fair to say, because the firm plays an outsize role in its employees’ lives, becoming a source of professional relationships, friendships, and often, marriages.The partner was finally shipped off to another continent.There are some instances where Goldman itself has governed itself by those rules.At one white-shoe law firm recently, a cluster of affairs was discovered by accident, according to a source familiar with the situation.