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The long and worrisome list of allegations about what it’s really like to be a woman at Goldman Sachs

Three women in the US are suing Goldman Sachs for discrimination.

Business Insider has published a copy of the full claim and it does not make the life of a woman at Goldman look inviting.

Admittedly, many of the alleged events are said to have taken place prior to 2005, so Goldman has had time to change its ways. However, if true, they paint a picture of an organisation in which women are expected to train men, who are then promoted above them.

Here are the allegations, reducted.

· At nearly all levels women are paid less than similarly ranked men doing similar work

· Promotion policies favour men over equally or more qualified women

· The evaluation system favours men

· Women have to spend more time training juniors, and don’t get thanked for it

· Women at Goldman Sachs have fewer junior employees to assist them

· Because men at Goldman Sachs are given more resources, they have the impression of higher power and seniority and this becomes a self-fulfilling prophecy

· Women at Goldman Sachs get less mentoring and training than men

· Women at Goldman Sachs are more likely to be seated at the edge of the trading floor (junior males are more likely to sit in the centre)

· No one at Goldman has any real idea how their compensation number was arrived at

And specifically…

· A male convertible bond salesman who generated lower revenues than one of the claimants was paid 50% more

· Back in 1997 there was an employee outing to a topless bar, after which one of the defendants was groped by a male associate. Although she reported this, nothing was done and three years later the associate was promoted to MD.

· When the same VP-level defendant returned from maternity leave, she was made to sit among the all-female admin assistants

· Male Goldman employees go on virtually men-only golf outings, and don’t invite women even if those women actually happen to like golf.

· It is not unknown for male employees to break into press-ups on the trading floor.

Comments (10)

Comments
  1. Quit the complaining. You earm more and enjoy more priviledges at Goldman than any of your friends and acquaintances working at fashion houses, fashion magazines, media businesses etc. You think industries staffed predominantly by women…(think fashion)… don’t have these sort of issues? Wake up.

  2. meritocracy and equality a la Goldman Sachs!

    A G, fund manager Reply
     
  3. I was racially abused at G$, funnily enough they tried to call me an underperformer and sack me. In the meeting with HR (and the Senior VP) I raised this rather sticky point. Needless to day – I am rich as muthaf…. now!

  4. In my performance review at GS my boss’s boss explained that I should assume that everybody is smarter than me, in particular my boss, and then I won’t come across as arrogant and everything will be ok.

    It was a horrible place to work. I wouldn’t go back there for anything.

    Ex-GS female employee Reply
     
  5. if you dont like it start your own company,you are probally overpaid anyway.

  6. Goldman Sachs is very sexist.

    They don’t hire enough women, they don’t treat them equally, they don’t promote women….

  7. Sounds like a bunch of breeders whining again to me..again

  8. GoldMAN Sachs. Name sort of gives it away though.

    Derp Derp Derp Reply
     
  9. Gigolo is right, my girlfriend works at a well known law firm where her immediate boss and team leader are both women. Even though my gf is good at her job, she gets treated very poorly. Women are even nastier to each other……

  10. What’s wrong with men doing press ups? Especially at work, when you need sugar delivered to your brain by a well fuctioning circulatory system – a cause that doing pressups can only aid by raising the heart rate.
    In what was a serious article on a serious topic, this last point has come across to me as very flippant, and unfortinately changed the tone and flavour of the article for me.
    Of course it is merely refecitng the details of the vlaim – but I find the point highly irrelevant to any claim. Women are presumably welcome to break into exercise routines too. – If they got laughed at for only doing half-press ups then that would might be just cause for grievance!

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