Although the investment banker has been the butt of society ever since the dual housing and banking crises of 2008, what the general public does not realize is that most investment bankers were not actually involved in the frauds that took place. As a matter of fact, at one of the biggest investment bank in the world, Goldman Sachs, the average investment banker is far from the detached, cynical person that he is made out to be in the media. On the contrary, most investment bankers at Goldman Sachs find a great deal of pleasure in creating value for their clients and their shareholders.
Life at Goldman Sachs has definitely been more hectic since 2008, but has is also been much more fulfilling? Because it is now much harder for an investment banker to earn the trust of an individual, he must prove himself in the market and have a record of success. Instead of destroying morale, this has actually helped the overall culture become even more precise and dedicated to making money for clients and the firm.
Management within the firm is also held more accountable for the actions of the division that they lead. As the Securities and Exchange Commission cracks down and the public media eye drawing increased scrutiny to every action that the investment world takes, the entire culture of Goldman Sachs is actually rising to the occasion. The company is still profitable by a large margin and they have been able to do this under the new rules that have been implemented by the current governmental administration. This seems to prove that the success of the company was based on the skills of their employees rather than just the manipulation of the market, which bodes well for the ability of Goldman Sachs to continue to attract the best new hires out of higher education institutions.
Overall, the offices of Goldman Sachs might no be as happy and busy but financial professionals can derived satisfaction by continuing to perform under the increased scrutiny of the public. The qualified and talented traders and investment bankers at Goldman Sachs seem to be doing just that.
- 12 secrets (or not so really?) career advice from (ex or not yet?) Top Investment Banker (alphabanker.wordpress.com)
- Goldman Sachs Vice Chairman Evans to Leave Firm After 20 Years (bloomberg.com)