A survey of 13 first-year Goldman Sachs analysts and shared in February with the investment bank’s management has reached Twitter, where the conditions in which they work have gone viral. So overwhelming is their situation that among the requests there is one that sums up the stressfulness of their work environment: they would come to settle for working 80 hours per week.
The average hours worked for these first-year employees, according to the survey, are 95 weekly (19 a day in a five-day workweek and 13 if working from Monday to Sunday). This means that they sleep an average of five hours a day and usually go to bed around three in the morning.
In fact, although they give an 8.1 on average to the possibility of continuing to work at Goldman Sachs after a month if the conditions do not change (where 10 would be total security), this ‘score’ would drop to 5.2 if the term without changes extends to three months and would collapse up to 3.5 if it lasts half a year or more.
The consequences for their mental health are a drop from a rating of this aspect of their life of 8.8 (again, out of 10) before entering the company to 2.8; in physical health, the drop is from the previous 9 to the current 2.3.
All of them consider that working hours have affected their relationships with family and / or friends and 77% consider themselves to be victims of abuse in the workplace, something that has caused 75% have sought help in therapy or consider doing so.
Furthermore, 100% report experiencing unrealistic deadlines, 92% say they are frequently ignored in meetings and half report receiving criticism in public. 83% also consider that they receive excessive monitoring of their work.
Thus, the average satisfaction grade that they give to the firm is a 2; the same that takes your working life. Private life, meanwhile, remains in a 1. “I can no longer sleep because my anxiety levels are through the roof,” laments one of the interviewees.
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