In short, it sounds like Goldman is looking to unload some of its analysts and instead of pulling the ol' Donald Trump and hollering "you're fired!" (which would hardly fit Goldman's white shoe culture) they decided to get more creative.
Now before I tell you what exactly they did, I should clarify what an analyst is in this context for those that haven't had the pleasure of being one (alas, I have). Analysts are the lowest of the low in the investment banking world. They are typically recent university grads (undergrad) who do thankless work and labor an ungodly number of hours -- for, of course, a pretty hefty paycheck when compared to their non-investment banking friends. An investment banking analyst program typically lasts two years, at which point the analysts are expected to head off to get their MBA.
So Goldman management brought in these hapless youngsters and instead of telling them that they're being laid off, they're claiming that the analysts have been put in an "accelerated program" which, conveniently, ends in August.
From Dealbreaker:
We just received a little more color on the revolutionary approach, from a young alum, who notes: "At one point I actually though the [managing director] was going to say, 'Congratulations!'" which we can obviously all agree would have been awesome.Kudos to Goldman for deftly skirting the issue.
Here's a link to the original Dealbreaker story.
-AvgJoe
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1 comments:
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Well done! CONGRATULATIONS to ALL Grads!
Hey young Grads
good show I say
you've done it now
you showed us how
You've had some good times
You've made some good friends
now some will go off
to do it again
So good luck in college
You can do it
Have a real wild time
but don't over do it
Try to make friends fast
many of the early ones
will be the ones
who last
Unless you love
to get up early
don't schedule your classes
way too early
And try to get to class
as much as you can
you'll be glad you did
then you'll deserve a cold can
But try not to party
too much before class
you'll more likely attend
and you won't be an ass
If you fail the easy Calc
don't take the harder one
just keep your eye on the ball
between all the fun
You'll be entering
sort of a fantasy land
of reading, writing, and thinking
with those who can lend a hand
So, do your best with grades
but at least finish the task
and soon another graduation
will come at last...
So
CONGRATULATIONS
GOOD LUCK
and HAVE FUN!!!
:)
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