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Goldman Sachs adding jobs, improving work-life balance

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If you are a fan of Goldman Sachs and hope to work there one day, last week offered some good news. There’s updated hiring plans, a suggestion that work-life balance at the firm is improving and an unsubstantiated but fairly interesting rumor about a new business line.

First on the hiring end. The state of Utah extended Goldman a tax incentive offer to continue growing its workforce at its burgeoning Salt Lake City office. As part of the 20-year agreement, Goldman Sachs said it plans to add up to 350 jobs in state over the next two decades. While it’s not breaking news that the bank is looking to grow in Salt Lake City, the agreement further locks in the firm’s plans to expand its footprint outside of New York.

Meanwhile, a new survey suggests that Goldman’s efforts to improve the work-life of junior bankers – headlined by its “no work on Saturday” rule – may actually be working. In this year’s Vault.com survey, set to be released in two weeks, Goldman employees gave the firm better grades in three key lifestyle categories.

Compared to a year ago, Goldman ranks better in categories including work-life balance, working hours and overall satisfaction, according to a sneak peek of the survey. Obviously you can’t make a direct correlation between the improved rankings and the new work-life program, but, either way, Goldman employees appear a bit more content in 2014.

Finally, in the rumor mill department, there’s Fox Business reporter Charles Gasparino, who’s speculating that Goldman may be in the market for a wealth or asset management unit, if one would be made for sale. Something like a Charles Schwab or the old Paine Webber, the brokerage unit sold to UBS more than a decade ago, he said on-air two weeks ago.

Then on Friday, responding to a tweet about whether Goldman Sachs is indeed looking to get into wealth management, Gasparino said that President Gary Cohn has been “making the rounds talking to wealth management execs.”

It seems like just speculation at this point – Gasparino referred to the rumors as “banker chatter” – but it’s something to keep your eye on.

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Quote of the Day: I recall my dad saying about me once that the only time he’d ever heard me say ‘never’ was when I was asked if I’d had enough.” – former Barclays CEO Bob Diamond

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