Goldman Sachs Reviews in Utah

1,694 Reviews

3.6
1,694 Reviews
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Goldman Sachs Chairman and CEO Lloyd C. Blankfein
Lloyd C. Blankfein
1,136 Ratings

Review Highlights

Pros
  • The best thing about the firm is outstandingly smart people at the firm (in 166 reviews)

  • You will learn a lot about how to work under stress and tight deadlines (in 43 reviews)


Cons
  • Work life balance is non existent if you want to proceed up the corporate ladder (in 283 reviews)

  • Long hours and work environment was not personally what I am looking for (in 356 reviews)

More Highlights

15 Employee Reviews Back to all reviews

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  1. 2 people found this helpful  

    In the words of the man who threatened to fire me, "This place isn't for everyone".

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Associate  in  Salt Lake City, UT
    Former Employee - Financial Associate in Salt Lake City, UT

    I worked at Goldman Sachs full-time for less than a year

    Pros

    Goldman offers fantastic training seminars that anyone is welcome to attend. Also, I really did feel like I was learning from the best in the banking industry. The wealth of knowledge that the business leaders have is unbelievable, and if you can manage to schedule some time with them, you'll probably learn more about the industry than you could anywhere else.

    Cons

    Constant fear. Every person in the office I worked in in Salt Lake knew that only a few missteps could cost them their job. Once a year management picks a bunch of employees they want to replace and walks them out the door (keep in mind, these are all brilliant, hard-working people). Management will remind you of these routine expulsions as means of motivation. Working at Goldman is an intense scramble to be better than your co-workers, because you know that if they happen to be better than you, you will be treated as expendable. I was more anxious and stressed at Goldman than I've ever been in my career, and developed constant, throbbing headaches and had a very hard time sleeping. If management thinks they can replace you with someone better, they won't hesitate to do it. Firing dedicated employees is a very common and cavalier occurrence at Goldman.

    A culture of rudeness and extreme passive-aggressive behavior is pervasive throughout the company. If someone thinks you aren't important, they often won't respond to your e-mails or calls, regardless of how desperately you need their help. This kind of behavior is completely accepted. Also, expect business leaders to be extremely critical and demanding.

    Advice to ManagementAdvice

    My advice would be to treat employees like people who have lives and families and dreams; not as objects to be used up and disposed of when they no longer meet the needs of the company's "High Value Location". (This is a term used at Goldman in reference to offices in Bangalore, Salt Lake City, and Dallas where employees are cheap.)

    Doesn't Recommend
    No opinion of CEO
  2. 3 people found this helpful  

    This is the world's most efficient money-making machine. No more, no less.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee  in  Salt Lake City, UT
    Current Employee - Anonymous Employee in Salt Lake City, UT

    I have been working at Goldman Sachs full-time

    Pros

    - This place will be truly excellent for one in ten people who are ranked and rewarded accordingly (not unique to here, but true nonetheless).
    - Definitely mostly nice, smart & witty people (as we've been vetted not just here, but through all the various work & educational achievements throughout our lives).
    - Corporate America at it's best

    Cons

    - Most SLC work is at best boring, at worst suicidal.
    - People are lying about how much they work. Think 50-60 hrs, not 80-100 hrs. You're not that important and are discentivized anyways from working that long (1/2 overtime anyone?).
    - Corporate America at it's worst

    Advice to ManagementAdvice

    You're attracting many of the wrong people in a high risk/high reward fashion to see if you can recruit from other industries under the guise of empowering people when you actually want them to use Excel. It's great as long as you can keep the facade up, but one day you may run out of people you want and wish you kept a few more that wised-up to your game.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  3.  

    Work you like a slave

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Operations Analyst  in  Salt Lake City, UT
    Current Employee - Operations Analyst in Salt Lake City, UT

    I have been working at Goldman Sachs full-time for more than a year

    Pros

    Unlimited sick days and some paid holidays

    Cons

    long hours, blackout vacation days, bad managers, not enough pay

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
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  5. 4 people found this helpful  

    Run.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Associate  in  Salt Lake City, UT
    Current Employee - Associate in Salt Lake City, UT

    I have been working at Goldman Sachs full-time for more than 3 years

    Pros

    Great benefits and health care coverage; however, my boss would never let me use them. I could never get out of the office for a doctor visit, so the benefits really weren't worth it. I left the firm with the maximum number of vacation days I didn't have time to use. I guess at least I get paid for them when I leave.

    Cons

    Every negative rumor you have heard is true. This is a sweatshop. Employees are shuffled around like interchangeable pawns in a chess game. The hours are TERRIBLE even though the people I interviewed with touted the company's "work/life balance". I was told that they only pay 1/2 time for overtime to discourage overtime hours. Not true. I have seen people who web-surf most of the day applauded for the long hours they were putting in. Appearances are everything and you can plan on 50 hours a week as a minimum if you are lucky enough to join a group that is well-staffed. I was micro-managed (though that will depend on your division) and in looking for a new position, found that in Utah, experience with Goldman Sachs actually HINDERED my job search - significantly. The years I spent here have been worthless to me. Their roles are highly "specialized" meaning that you learn nothing about the broader industry and are basically a ticket puncher doing the simplest menial tasks until they figure out a way to automate your role and you are moved to man another conveyor belt. When I asked to work only a 10 hour day ONE day a week for personal reasons, I was repeatedly NOT accommodated. You can completely forget about any medical accommodation for hours, though they won't hesitate to give you a footrest or seat cushion. They may support you in theory, but not in practice. Turnover is very high (they lure you by saying that it's a competitive environment for the brightest minds and that only the best endure - not reality) and I know several people who have chosen to be unemployed rather than continue to work at GS. I worked for Operations for 2 years before moving to the Investment Management Division. Within one year in the Investment Management Division, I got over 25 "farewell" emails from people leaving the firm. The firm is lowering it's hiring standards wherever they can and in most of the hiring discussions I witnessed, the only basis for a decision to hire was whether or not the most senior interviewer "liked" the person. They are hiring from all different backgrounds and experience (which they explain as "diversification") and grade point average do not matter anymore. This is no longer the organization that hires "the best of the best". In New York, you are hired if you are from the right family with the right contacts. In Utah, you are hired if they like you. No skill needed.

    Advice to ManagementAdvice

    The firm consistently drones on in presentations about how they focus on finding the right "fit" for employees. After sticking it out for over a year in a role that absolutely was not working out, I reached out to my manager's manager, my formal mentor, and human resources. I explained that this role was not the right "fit" for me and asked for advice/help finding a role where I could more enthusiastically and productively contribute. In all three cases, my inquiry was promptly dismissed and I was told to stick to my current job. Simply put, my advice is to practice what you preach. I was on several working groups to manage attrition and knew of many others, but at the end of the day, only happy employees are likely stay with the firm.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  6. 2 people found this helpful  

    Hard work, little rewards, not worth it

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Operations Analyst  in  Salt Lake City, UT
    Current Employee - Operations Analyst in Salt Lake City, UT

    I have been working at Goldman Sachs full-time for more than a year

    Pros

    You work with great people, teamwork is emphasized. Opportunity to learn a lot of things, and you get exposure to different areas

    Cons

    Long hours, low pay, high expectations, limited mobility, promote certain ideas but don't actually follow through with it, pushing great employees past their breaking point

    Advice to ManagementAdvice

    1. Pay employees 2. More work/life balance 3. spend time training managers

    Doesn't Recommend
    Disapproves of CEO
  7. 4 people found this helpful  

    No Work-Life Balance

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Analyst  in  Salt Lake City, UT
    Former Employee - Analyst in Salt Lake City, UT

    I worked at Goldman Sachs full-time for more than a year

    Pros

    The people you work with will be very intelligent and motivated.
    Everyone is comfortable with technology and innovation is rewarded.
    Great benefits.

    Cons

    You will start out working 50 hours per week and it will only go up. The compensation is not enough to make up for the fact that you can't do anything but work.
    Turnover is outrageous - I quit after 13 months and I was the most senior member of my team by that point.
    Office politics can be crazy! There is very much a "face time" culture where people feel obligated to spend 11-14 hours per day at the office.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  8. 5 people found this helpful  

    Right place for a long term career ( I don't know what that means)

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Technical Analyst  in  Salt Lake City, UT
    Current Employee - Technical Analyst in Salt Lake City, UT

    I have been working at Goldman Sachs full-time for more than a year

    Pros

    Best people. Self motivated, very dedicated and hard working people.
    Great brand name to be in your resume.
    You can take up as many responsibilities as you wish. You will be challenged every day.
    Very team oriented culture. People work together to get things done rather than criticizing or playing the blame game.
    You will learn to multi-task, manage time efficiently, prioritize your tasks, communicate with clients, interact with different stake holders, building really great technical systems

    Cons

    Absolutely humiliating compensation benefits. 99% of the revenues consumed by senior management.
    No rewards for your superior performance. Promotions are based on number of years you stay with the firm.
    Most of the technologies used are outdated.
    Senior Management keeps brain washing the employees in the name of long term career. There is absolutely no career growth.
    I worked in Salt Lake City office. Most of the hires here are either consultants or new hires from local community colleges. If you are from a top ranking university, you will get into depression very soon.
    SLC office culture is one of the worst. No work life balance. If you don't go to office by 7 am in the morning, you will have a meeting with your manager. Average work hours are 12-14 hours everyday. No overtime pay for technology employees. Production support can keep you awake through midnight and weekends. No work flexibility as well. You will have to give 100 reasons if you chose to work from home.
    Every task is super critical and super sensitive. No room for mistakes. Do a small mistake and you will get criticized for that in your reviews. Deliver a mega project successfully, you will get hardly appreciated with a few good words and no other rewards.
    They will keep saying that bonus is a huge part of compensation benefits which is a big lie. In my course of stay at GS, bonus was either zero or negligible.
    They will collect all the feedback from you but will never work on them.
    The salary for a new hire in SLC office in technology division is $30,000 after taxes. You have to ask yourself if you want to work for 14 hours daily for this salary.

    Advice to ManagementAdvice

    Share the revenues more equally among all the employees. Don't be super greedy.
    Don't misguide everyone in the name of long term career.

    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO
  9. 3 people found this helpful  

    The Salt Lake office will always be a second-tier location

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Vice President  in  Salt Lake City, UT
    Former Employee - Vice President in Salt Lake City, UT

    I worked at Goldman Sachs full-time for more than 3 years

    Pros

    Goldman Sachs brought a lot of new developer job openings to Utah, and those positions do not require deep technical knowledge. People who transfer to Salt Lake from New York are likely to be exposed to good career opportunities.

    Cons

    For people who are comfortable with computer science, Goldman Sachs doesn't have any advanced technical positions. The 80-100 hour weeks that I gave and the great performance reviews did not help me get closer to a promotion. The problem is that nothing produced in Salt Lake City generates any revenue, so it's the last place that rewards would be given. The company aims to hire more expendable entry-level developers, and neglects its experienced workers, because that is the most certain way to keep costs low.

    Advice to ManagementAdvice

    Until at least one experienced hire in Salt Lake manages to improve their career at Goldman Sachs, it will be hard for applicants to take the Salt Lake office seriously.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  10. 1 person found this helpful  

    too demanding

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Investment Management Division Associate  in  Salt Lake City, UT
    Current Employee - Investment Management Division Associate in Salt Lake City, UT

    I have been working at Goldman Sachs full-time for more than 3 years

    Pros

    any employment is a positive thing right now

    Cons

    long work hours rewarded more than efficiency.

    Advice to ManagementAdvice

    do not micromanage adults

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  11. 4 people found this helpful  

    Technology Analyst @ Goldman Sachs? - Very bad idea!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Anonymous Employee  in  Salt Lake City, UT
    Current Employee - Anonymous Employee in Salt Lake City, UT

    I have been working at Goldman Sachs

    Pros

    Competitive.
    Most of them are friendly.

    Cons

    Extremely pathetic Salary - when compared to Software companies. It's better to be a software engineer somewhere else with 1.5 times more salary than GS, than to rot here doing the same amount of work.
    Does not respect employees wishes.
    Very less opportunity for growth for technology analysts.

    Advice to ManagementAdvice

    Please be more considerate towards employees. Offering them good salaries is the first step towards making them a bit satisfied.

    Doesn't Recommend
    Disapproves of CEO

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