Goldman Sachs asks junior bankers to confirm loyalty | Businessman

Goldman Sachs plans to ask junior analysts to verify every three mountain that they have a job sorted elsewhere, in the periodic promise of loyalty, Bloomberg News.

The purpose of loyalty oaths is to be reached in front of private capital companies that can offer job seekers up to two years before the potential start date. These companies are expanding offers to junior bankers at the beginning of their work training in Goldman Sachs or before they start training, in a process as a recruitment for cycle.

Related: Here are the chances of landing a summer internship in Goldman Sachs or JPMORGAN

Goldman Sachs is not the only bank on Wall Street to intervene about poaching from private capital companies. Last month, JPMorgan Chase, a large US bank with $ 3.9 trillion, warned incoming analysts in a leaked e-mail that they would accept that they had accepted the bank or with the first 18 months of employment.

JPMorgan said that this policy aims to obtain any conflicts of interest.

^{Goldman Sachs CEO David Solomon. Photographer: Nina Helen Jåma/Bloomberg via Getty Images}

JPMORGAN CEO Jamie Dimon, 69, said earlier that the practice of losing talent with private capital was “athical”. At the lecture at Georgetown University in September, Dimon said that JPMORGan is building a transition to private capital because employees are already committed to another company while processing confidential information in JPMORGAN.

“I think it’s Athical,” Dimon said at the lecture. “I don’t like it.”

Apollo Global Management and last month, the main private equity of Apollo Global Management and last month that it would not perform formal interviews or not expand job offers for class 2027 in responsibility for criticizing the hiring process that starts too early.

Related: Goldman Sachs asks some managers to move from the main nodes like New York City, to new regions like Dallas – or left

Said the CEO of Apollo Marc Rowan Bloomberg In an e -mail hundrednt last month in -mail, “asking students to decide on a career before understanding that their possibilities do not serve them or our sectors”.

Apollo and Goldman Sachs offered comparable compensatory packages. According to federal submission of overcast Business InsiderApollo pays analysts with a salary of $ 115,000 $ 150,000. Create anywhere from $ 125,000 to $ 200,000.

For comparison, Goldman Sachs pays FIRS-YEAR Analysts $ 110,000 and $ 150,000 for the first year. The second year analysts earn $ 125,000.