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"I do not want my team to hire senior people from Goldman Sachs"

I have never worked for Goldman Sachs, but I have worked at several top US banks where ex-Goldman people have joined in senior roles. I have never found them easy to work with.

When senior Goldman people are hired, they often behave in the same way. I've found that they try to replace their direct reports with new people. Those new people are either people they’ve worked with before (often at Goldman), or in some cases their friends. That doesn't seem to happen with people from other banks.  

It creates a difficult dynamic. It’s like they want to create a group of people who will be incredibly loyal to them and it makes life difficult.  There’s almost always a reorg within the first year.

I’d appreciate knowing whether anyone else has had this experience in the comments below.

Patrick Laffitte is a pseudonym 

 

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AUTHORPatrick Laffitte Insider Comment
  • Ca
    CareerSearching
    28 September 2023

    So is this the reason I’m not getting hired? Over 200 applications!! It sucks because that’s not me at all, I’d rather work with people I don’t know so they don’t expect certain treatment from me. We are all here to work not make bff’s. This is sad because I now know why I keep getting declined, and the reason has nothing to do with MY character, it’s everyone else’s character. I’d like to know what company this is so I don’t waste my time in the future.

  • [Deleted]
    28 September 2023

    [Deleted]

  • Ni
    Nittin
    28 September 2023

    Not surprised there, goldman culture is toxic from top to bottom.

  • Ja
    Jay Bond
    27 September 2023

    This is indeed accurate, especially the part about the loyalty. Sadly on average they are not nearly as good as they claim - not strictly, as I worked with some very talented ex GS people before.

  • MD
    MD Moves
    26 September 2023

    What an idiotic take and article. If an organization looks externally for senior leaders, it means: 1.) They do not have internal talent to fill the role 2.) Something isn’t working internally, thus they are looking for outside talent to fill a gap within the organization .


    Changing personnel and team structure is normal for any new leader.

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