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Lloyd Blankfein’s sons, Jonathan and Alex, didn’t stay in jobs at Goldman Sachs. Why?

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They could not pay them enough....

Posted by Lshanks

Lloyd Blankfein's sons came and went from Goldman

Lloyd Blankfein's sons came and went from Goldman

Following our earlier remarks about the apparent tendency of senior bankers’ sons to sashay into summer jobs in the style of Rahul Pandit and Jonathan and Alex Blankfein, it seems worth pointing out that neither Jonathan nor Alex Blankfein are still employed by Goldman Sachs – the organization at which their father is, needless to say, CEO.

The Blankfein sons’ FINRA reports show that they came and went from their father’s firm. Jonathan worked for Goldman Sachs in New York between August 2010 and August 2012. Alex Blankfein worked for Goldman Sachs in New York between August 2008 and July 2011. 

Where are the Blankfein brothers now? FINRA says that neither is registered with a rival security firm, so they clearly didn’t go and find work elsewhere. Instead, it seems that both men have followed the established route to the top of Wall Street investment banks and other elite occupations: a degree from a top university, followed by two years in the industry, followed by an MBA.

This is certainly the case with 28-year-old Alex Blankfein, who graduated from Harvard, joined Goldman’s two year analyst programme and then spent 35 months working for the firm in cross-asset sales (according to his Bloomberg registration) before returning to Harvard to pursue an MBA in 2011.  

Jonathan Blankfein also graduated from Harvard, spent two years at Goldman and also appears to have embarked upon a Harvard MBA, from which he will seemingly graduate in 2016. 

If you want to work on Wall Street, Jonathan and Alex Blankfein provide a pretty good template of how to go about it. Study a Bachelors degree at a top university, spend two years at a blue chip employer, study an MBA at a top university.

Curiously, however, Alex Blankfein has seemingly decided that a job at his father’s firm isn’t for him. The New York Times reports that he joined Bain & Co. as a management consultant last September.

Related articles:

When senior bankers’ sons get summer jobs in banking

$155k for a 2nd year analyst: is Alex Blankfein overpaid?

Gary Cohn and Lloyd Blankfein agree: ignore career advice from a wife

 

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