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05

Goldman Tries Quicker Promotions to Keep Junior Bankers Happy

By Tony Seruga

Investment bank also will introduce third-year role rotations
Goldman has developed technology to automate some tasks

Goldman Sachs Group Inc. said faster promotions, third-year rotations and more automation of grunt work are among the latest changes it’s making to improve life for young investment bankers and head off defections.

The world’s top merger adviser will promote all analysts to associates after two years, and let them switch to different teams in their third year to broaden skills, said David Solomon, co-head of the firm’s investment bank. Top workers will be able to advance from associate to vice president in 3 1/2 years, cutting the previous timetable by 12 months, he said…

Goldman Tries Quicker Promotions to Keep Junior Bankers Happy

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