{"id":455563,"date":"2022-05-31T16:43:10","date_gmt":"2022-05-31T13:43:10","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/goldman-sachs-unlimited-vacation-plan-questioned-by-analysts\/"},"modified":"2022-05-31T16:43:10","modified_gmt":"2022-05-31T13:43:10","slug":"goldman-sachs-unlimited-vacation-plan-questioned-by-analysts","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/goldman-sachs-unlimited-vacation-plan-questioned-by-analysts\/","title":{"rendered":"#Goldman Sachs&#8217; unlimited vacation plan questioned by analysts"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a32b40005eb3\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a32b40005eb3\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/goldman-sachs-unlimited-vacation-plan-questioned-by-analysts\/#%E2%80%9CGoldman_Sachs_unlimited_vacation_plan_questioned_by_analysts%E2%80%9D\" >&#8220;Goldman Sachs&#8217; unlimited vacation plan questioned by analysts&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CGoldman_Sachs_unlimited_vacation_plan_questioned_by_analysts%E2%80%9D\"><\/span>&#8220;Goldman Sachs&#8217; unlimited vacation plan questioned by analysts&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Goldman Sachs\u2019 move to give its senior bankers unlimited vacation time is drawing a skeptical response from analysts \u2013 with some calling the move a cynical scheme to boost the bank\u2019s bottom line that won\u2019t actually result in stressed-out workers taking more time off.<\/p>\n<p>The Wall Street giant informed its senior bankers earlier this month that they were free to take as many vacation days as they wanted. All Goldman employees are now required to take at least 15 days off per year, according to the company\u2019s policy.<\/p>\n<p>While the unlimited vacation policy suggested that Goldman was putting a larger emphasis on work-life balance, it will do little to ease the workloads that keep bankers at their desks in the first place, Wells Fargo banking analyst Mike Mayo <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2022\/05\/27\/business\/goldman-sachs-unlimited-vacation.html?partner=slack&amp;smid=sl-share\">told the New York Times<\/a>.<\/p>\n<p>\u201cIt sounds psychologically soothing, and it\u2019s part of Goldman\u2019s cultivating a gentler and softer Goldman image,\u201d Mayo said. \u201cThe reality is it\u2019s not going to make any difference. It\u2019s like telling a restaurant owner you can have unlimited vacation \u2014 will that change how the restaurant owner works?\u201d<\/p>\n<p>Veehtahl Eilat-Raichel, the co-founder and CEO of fintech startup Sorbet \u2013 a company that buys out and repurposes unused paid-time-off benefits \u2013 reportedly asserted that Goldman\u2019s policy shift was \u201cdriven completely by financials.\u201d<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/goldman-sachs-99.jpg?w=1024\" alt=\"Goldman Sachs\" class=\"wp-image-22469962\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/goldman-sachs-99.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/goldman-sachs-99.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/goldman-sachs-99.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Goldman Sachs\u2019 senior bankers receive unlimited vacation time after a policy change.<\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>By changing the policy, Goldman is no longer on the hook to compensate senior bankers, who comprise less than 5% of its overall workforce, for unused paid time off below the 15-day threshold, a source familiar with the matter told The Post. That\u2019s because those executives are technically no longer accruing vacation days.<\/p>\n<p>Eilat-Raichel told the New York Times that unlimited vacation policies are \u201cpositioned as if it\u2019s an amazing benefit for employees, where in fact it actually is really bad for employees and amazing for employers.\u201d<\/p>\n<p>Another analyst, Alliance Consulting president Paul Sorbera, had a more optimistic view of Goldman\u2019s move.<\/p>\n<p>\u201cIt\u2019s a great thing \u2014 they\u2019re trusting their senior people to do what\u2019s right because they\u2019ve earned their s<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">trip<\/a>es, they\u2019ve put in their time and been successful,\u201d Sorbera told the outlet.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/Goldman-CEO-David-Solomon-_14.jpg?w=1024\" alt=\"David Solomon\" class=\"wp-image-22469957\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/Goldman-CEO-David-Solomon-_14.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/Goldman-CEO-David-Solomon-_14.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/Goldman-CEO-David-Solomon-_14.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>David Solomon recently said more than 50% of Goldman workers were back in the office.<\/figcaption><figcaption><span class=\"credit\">Bloomberg via Getty Images<\/span><\/figcaption><\/figure>\n<p>A Goldman Sachs spokesperson said any cost savings from the policy tweak are \u201cincidental\u201d and were not a factor in the decision.<\/p>\n<p>\u201cUnlimited vacation for senior employees means we no longer accrue for vacation in a calendar year. We have not paid out unused vacation days carried over from a prior year service since 2017,\u201d the spokesperson added.<\/p>\n<p>Bentley de Beyer, Goldman Sachs\u2019 global head of human capital management, said the company\u2019s \u201cfocus\u201d when rolling out the policy was \u201con incentivizing our people to take more time off, rest and recharge.\u201d<\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>\u201cWe are proud to join with many other companies in introducing a flexible policy that requires a minimum amount of time out of the office to continue to build resiliency and sustained performance,\u201d the executive said.<\/p>\n<p>While senior bankers have unlimited vacation, junior employees are still subject to a cap. However, Goldman provided them with an additional two vacation days.<\/p>\n<p>Goldman unveiled its new vacation policy as it contends with mounting pushback from staffers \u2013 with some junior bankers grumbling last year that they were working 100-hour weeks.<\/p>\n<p>\u201cAs we continue to take care of our people at every stage of their careers and focus on the experience of our partners and managing directors, we are pleased to announce enhancements and changes to our global vacation program designed to further support time off to rest and recharge,\u201d the company said in a memo earlier this month.<\/p>\n<p>More recently, Goldman employees have complained about the firm\u2019s rigorous return-to-office plan. As The Post reported in March, some junior staffers have threatened to quit over internal pressure to work onsite five days per week.<\/p>\n<p>Meanwhile, Goldman\u2019s top boss David Solomon said earlier this month that\u00a0more than half of Goldman employees\u00a0\u2014 between 50% and 60% \u2014 have returned to the office.<\/p>\n<p>Goldman has also faced scrutiny from employees for cutting back on some perks, such as free lunch and free car rides to the office.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/05\/31\/goldman-sachs-unlimited-vacation-plan-questioned-by-analysts\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Goldman Sachs&#8217; unlimited vacation plan questioned by analysts&#8221; Goldman Sachs\u2019 move to give its senior bankers unlimited vacation time is drawing a skeptical response from analysts \u2013 with some calling the move a cynical scheme to boost the bank\u2019s bottom line that won\u2019t actually result in stressed-out workers taking more time off. The Wall Street&#8230;<\/p>\n","protected":false},"author":1,"featured_media":455564,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/goldman-sachs-87.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[129772,71939,70789,70790,72122],"class_list":["post-455563","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-5-31-22","tag-banks","tag-david-solomon","tag-goldman-sachs","tag-vacations"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/455563","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=455563"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/455563\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/455564"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=455563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=455563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=455563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}