goldmansachs.jpg

Goldman Sachs Group Inc tells summer interns not to pull all-nighters, but 7 a.m. to midnight is OK

Goldman has told its summer banking interns they should be out of the office between midnight and 7 a.m.

Goldman Sachs Group Inc has told its summer investment banking interns to not stay in the office overnight inside a bid to improve working conditions for its junior staff.

The move, according to company sources and confirmed with a Goldman spokesman, illustrates how Wall Street banks are trying to find to curb excessive hours worked by young employees who see internships and entry-level jobs as a chance for a lucrative investment banking career.

Goldman has told its new crop of summer banking interns they should be out of the office between the hours of midnight and 7 a.m. during the week.

Goldman along with other banks have taken steps during the last several years to inspire junior employees, known as analysts and associates, to take time off inside a profession notorious for all-nighters and 100-hour work weeks.

Related