Goldman Sachs Reviews in Utah | Glassdoor

Goldman Sachs Utah Reviews

Updated July 7, 2017
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  1. "Contingent Analyst in GSAM Ops"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Contractor - Analyst in Salt Lake City, UT
    Former Contractor - Analyst in Salt Lake City, UT
    Recommends
    Positive Outlook

    I worked at Goldman Sachs as a contractor

    Pros

    Working with some insanely bright and successful people.

    Cons

    Constant moving from one task to another without time to appreciate the cool things you just did.


  2. Helpful (2)

    "Operations Analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Salt Lake City, UT
    Former Employee - Anonymous Employee in Salt Lake City, UT
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Goldman Sachs full-time

    Pros

    Excellent benefits and top notch in the industry. Working with the brightest minds from New York and London. Attending talks that bring in geniuses from across the world. A fantastic CEO who values diversity at the work place. I've met way too many inspiring individuals during my tenure at Goldman Sachs! I have to admit that it was a great first job out of school - I've learnt and grown so much from this place. I have LOTS to be thankful for.

    Cons

    Managers in Operations Salt Lake City are mostly jokes. They are brought in from either Bangalore (where they lack EQ, people skills, common sense) or London ( cliquish, zero technical skills, London rejects). You can't find true leadership at this office. Your career will have no growth and you'll be asking yourself every day "Am I really working for the best investment bank in the world?" Operations was built out in Salt Lake City only as a cheap, escape route for the firm. GS wanted to save money and decided to pick the most boring city in the entire United States of America. Poor decision! The lucky 2% manage to move to New York and the rest of us are stuck with low caliber managers and Mormon colleagues that are sickeningly sweet but unfortunately boring. This office is a major disaster and Salt Lake City is looked down upon by rest of the firm (well Bangalore still wins for being the worst). I don't even understand how some of these people make Vice Presidents at Goldman Sachs. My advice to incoming folks: Run far from this office. There are way too many people who are unhappy and very limited opportunities for internal mobility. Also, ask yourself if you want to be a glorified factory worker processing brainless information every. single. day? That is Operations for you.

    It's only prestigious to work at Goldman Sachs if
    1) You are working anywhere BUT Salt Lake City and Bangalore
    2) You are working anywhere BUT Salt Lake City and Bangalore
    3) You are working anywhere BUT Salt Lake City and Bangalore

    I think you got the message.

    Advice to Management

    Learn to identify and retain talent. Don't be tangled in your own dirty politics and watch young talent leave and do nothing while rest of the team suffers! Learn a thing or two from the front office. Yes - it is OK to be cut throat. And no - don't let professionalism slip past by hiring incompetent fools.

    I mean if 98% of the people look depressed and are walking into the office like zombies, you're probably not doing MANY things right. Buckle up and be true leaders!

  3. Helpful (2)

    "Brace Yourself"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Contractor - Contingent Tax Analyst in Salt Lake City, UT
    Former Contractor - Contingent Tax Analyst in Salt Lake City, UT
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    I worked at Goldman Sachs as a contractor (Less than a year)

    Pros

    Decent pay, during tax season when you're working 13 hour days (7am-8pm) they provide dinner, Goldman Sachs University to learn new things when you have a moment free, keynote speaker conferences (either in office or remotely)

    Cons

    They will treat you like a machine, you will work crazy hours including weekends, when you have to leave for a doctors appointment or dentist or you are sick and can't come in your coworkers will treat you like rubbish, no work-home life balance, managers are encouraged to treat employees as disposable. Overall if you want a stable job that will gruesomely kill your spirit and soul then this is a good option, but if you have any flavor to you I would find someplace that better supports that color.

    Advice to Management

    Learn to treat machines as machines (ie start updating your tech) and start treating your employees as human beings.


  4. Helpful (5)

    "Mormon Goldman Sachs--You're in or out!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Analyst in Salt Lake City, UT
    Former Employee - Senior Analyst in Salt Lake City, UT
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Goldman Sachs full-time (More than a year)

    Pros

    Your 5-person team experience does not necessarily reflect what GS is as a firm. if you don't like your team leave it as soon as possible before your managers turn on you and recommend you to be fired before it's too late.

    Cons

    Managers don't help you train you. You're left to your own devices to learn your function. If you don't do a good job it's your fault! Good luck not being mormon. If you're not you're silently ostracized. so much for a firm that focuses on diversity. GS stresses people to come up with innovative ideas but they use that as an elimination device to purge employees that do not fit with the culture or quietly acquiesce to the will of their senior managers.

    Advice to Management

    Don't be cowards when it comes to your employees. You're responsible to them as much as they as responsible to you. if you're too busy being a Vice-President and you can't be there for your team get a different position.


  5. Helpful (1)

    "Poor work life balance"

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

    I have been working at Goldman Sachs full-time (More than 5 years)

    Pros

    Good location
    pay is decent
    some divisions have challenging work

    Cons

    Poor work life balance
    pay doesn't match to extra hours that employees need to put in

    Advice to Management

    Improve work life balance


  6. Helpful (7)

    "Ops is menial back office work, no real transferable skills."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Analyst in Salt Lake City, UT
    Current Employee - Analyst in Salt Lake City, UT
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I have been working at Goldman Sachs full-time (More than a year)

    Pros

    - Looks great on your resume. Some managers try to really emulate the company's ethos in their interaction with their staff.

    - For a young person, fresh out of school, GS is an excellent introduction to Corporate America. Approach it with an open mind or like a social examination as your experience will be a great determiner whether working for corporations could be a thing for you.

    Cons

    If you're unable to muster or feign the interest and importance managers feel is due to this work, note how what was once average/good feedback quickly turns unprofessional, insulting your intelligence and mental aptitude. However many times they try to tell you the work is challenging and not for everyone, know that it is not. It sort of felt like it was a way for them to legitimize and feel better about the menial, mind-numbing work it truly is.

    Although GS prides itself on diversity, it often seemed forced (checking off boxes). In general, I think it's good to be wary of any organization that pushes diversity initiatives and programs that hard. Surprisingly, it didn't make the workforce or managers more tolerant of others. Finally, the fact that one ethnic subset of the analyst class were assigned mandatory diversity mentors/champions is indicative of something.

    The culture really breeds sycophancy and since fragile egos run amok, you can only imagine how crucial your ability to engage in office politics will be for promotion and staying in the good graces of managers. Believing you'll be judged based on the merits of your work is a common mistake new joiners make. For some of my teammates, the highlight of their day (week perhaps?) was having the MD greet them and acknowledge their presence. I hope I've simultaneously dispelled any claims regarding GS being flat. It is as flat as feudalism in 9th century Europe.

    Advice to Management

    I think my advice will be limited here. After all, most good-intentioned advice is simply not applicable or even feasible when it comes to huge corporations. That being said, familiarizing oneself with what's taboo from an HR perspective and what isn't goes a long way. I understand the pressure to meet increasing demands but it is extremely unprofessional, if not illegal for instance to ask employees what they went to the doctor for. Finally, no employee can take management seriously if feedback to employees consists of cellphone use at their desk or questions regarding their bathroom use. Fixating on how often people use the facilities and intimidating attitudes when personal things come up, preventing employees from being away from the office or the desk detract from the elite organization and ideal that you're trying to advertise. It's also downright weird.


  7. Helpful (4)

    "Goldman does not care about its employees. They say they do, but they really don't."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Ops Analyst in Salt Lake City, UT
    Former Employee - Ops Analyst in Salt Lake City, UT
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Goldman Sachs full-time

    Pros

    Relocation bonus, referral bonus are pretty sweet.
    Great network. Looks good on a resume.

    Cons

    Pay starts shockingly low.

    360 feedback system is a joke. The firm is focused only on efficiency and the bottom line; they will cut you at the drop of a hat if you're not grinding the wheels.

    Layoffs were pretty awful. People just disappeared-- managers didn't say anything before, your coworkers just weren't there anymore, people you cared about and got close to-- gone. Again, the firm does not care. They do not care about you, there is no loyalty to you.

    The hours are long and thankless in ops. 10 hours minimum every day. Never had less than a ten hour day.

    Work life balance is virtually nonexistent. You exist to make money for the firm; they do not care about you.

    Management spends a lot of time trying to talk up how great it is to work in ops, but everyone's trying to get out. Ops is where careers go to die; it is the red headed stepchild of the firm. You know how everyone associates Goldman with Wolf of Wall Street types? Well in Ops, you're the one on the other end of the phone when said wolf picks up the phone to scream about a failing trade. It's purely extractive and exploitative. Do not listen to anyone who's trying to tell you that you'll have a long and satisfying career in ops. You'll be strategizing the entire time about getting away to another division, and getting to a prestige office.

    In ops, you'll never get the choice of anything. New office building? Nope. New facilities? Nope. Healthier food? No. Central location? No, we're going to put you in the far office. Everything in ops feels punitive.

    Advice to Management

    Respect your workforce enough to stop lying to them; stop saying ops is so great, that they're appreciated, that they make such a huge difference. Because ops is not great. Ops is where you go to grind years of your life away, gain fifty pounds, get high blood pressure and bad cholesterol.

     The layoffs were absolutely brutal. You cannot claim to be a place that cares about its workers and then bin them like that. And not only that, but your workers were canned because of illegal activity traders made years ago, and where are they? Private hedge funds. Senior leadership? Laughing all the way to the bank. Handled so poorly. Disgraceful.

  8. Helpful (1)

    "Operations VP"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President Operations in Salt Lake City, UT
    Current Employee - Vice President Operations in Salt Lake City, UT
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I have been working at Goldman Sachs full-time (More than 10 years)

    Pros

    I love the fact that GS drives people to stretch in ways they never knew was possible. I never thought i would continue working for a large employer after college, as I wanted to pursue my own thing; however I've learned more here than I ever could have imagined 10 years ago.

    Cons

    Things have changed in the industry. Forces on the industry have made management minimize expertise and commoditize the value the experience and knowledge folks in the division have. There is an increase of squeezing this division to cut costs, despite increasing regulation and the need to facilitate new business to keep up with decreasing ROI and shrinking margins.

    Advice to Management

    Appreciate the experience and knowledge of Operations Professionals and do not discount the risk management skills these folks have. Although small tasks should be automated, there is a LOT of institutional knowledge that is being forced out by current efforts.


  9. Helpful (4)

    "Analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Salt Lake City, UT
    Former Employee - Anonymous Employee in Salt Lake City, UT
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Goldman Sachs full-time (More than 3 years)

    Pros

    Good exposure to the financial industry. They hire good people and the culture is very vibrant and social. Learn a lot of great skills early in your career, a great stepping stone for a future job if desired.

    Cons

    The environment is extremely stressful. They are always expecting you to do more to a point where you can never satisfy. Even if you accomplish something incredible it will quickly be forgotten about in a few months. Too much competition where the environment has turned toxic and manipulative. Getting ahead is more about playing the political game than what you actually do and how you are performing. Because they hire such high quality people, a lot of good solid employees get unnoticed. This company does not care about their employees, they are all numbers on a paper and they show no signs of loyalty. Keeping their people happy is very low on their priority list and it is very evident after you've been there a few years. When company is not doing as well as they expect comp budget is the first to go. You can go very far and make a lot of money here but it is extremely difficult and you have to sacrifice your health and your life. Goldman is not just a job, it becomes your life.


  10. Helpful (4)

    "There's a reason attrition is so high"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Credit Risk Analyst in Salt Lake City, UT
    Current Employee - Credit Risk Analyst in Salt Lake City, UT
    Doesn't Recommend
    Neutral Outlook

    I have been working at Goldman Sachs full-time (More than a year)

    Pros

    - Good name on your resume
     - Solid experience
     - Challenging environment
     - Great coworkers

    Cons

    - Disconnected management
     - Lack of perks (despite how big the name is, and how perks used to be. You get nothing now but free coffee and decent 401k matching)
     - Cutthroat environment - it's really not like any other job you've worked and you'll drive yourself nuts if you take it too seriously
     - Management isn't honest about opportunities that really exist at the firm.

    Advice to Management

    Stop caring about just yourselves. Really, truly mean what you say.


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