Saturday Becomes Caturday at Goldman Sachs

A blog about business and economics.
Nov. 6 2013 5:42 PM

Saturday Becomes Caturday at Goldman Sachs

Relax, everybody, it's Caturday at Goldman Sachs.

Photo by YASUYOSHI CHIBA/AFP/Getty Images

Matthew Yglesias is on vacation.

Junior bankers at Goldman Sachs just got some good news. According to Dealbreaker, a new rule says that “[a]ll analysts and associates are required to be out of the office from 9 p.m. on Friday until 9 a.m. on Sunday,” beginning this weekend.

The finance world—especially in New York City—isn’t known for short workweeks. Goldman Sachs' new rule reflects that rather stunningly. Analysts and associates must be out not by close of business, but midevening, on Fridays. And ... they can come back on Sunday. To a cynic, it may appear as a perverse endorsement of a six-day workweek.


Oh, and exceptions are allowed.

But really, if the rule withstands time, it looks promising, and I’d encourage you to read the whole announcement before judging. Since a lot of the problematic requests from employers come from immediate supervisors, rather than a corporate policy or mandate, the most reassuring parts are the two following items: “Exceptions will not be the norm and should be used sparingly.” “Exceptions will be tracked and reported to Exec Comm on a quarterly basis.”

That’s code for: We’ll know if you’re abusing your juniors.

So it appears junior Goldman Sachs employees will be able to rely on at least one day a week off to post pictures of cats to message boards or whatever they choose to do with it. As anyone with friends in the finance industry knows, that’s nothing to scoff at.



Crying Rape

False rape accusations exist, and they are a serious problem.

Scotland Is Just the Beginning. Expect More Political Earthquakes in Europe.

No, New York Times, Shonda Rhimes Is Not an “Angry Black Woman” 

Brow Beat
Sept. 19 2014 1:39 PM Shonda Rhimes Is Not an “Angry Black Woman,” New York Times. Neither Are Her Characters.

The Music Industry Is Ignoring Some of the Best Black Women Singing R&B

How Will You Carry Around Your Huge New iPhone? Apple Pants!

Medical Examiner

The Most Terrifying Thing About Ebola 

The disease threatens humanity by preying on humanity.


The Other Huxtable Effect

Thirty years ago, The Cosby Show gave us one of TV’s great feminists.

There’s a Way to Keep Ex-Cons Out of Prison That Pays for Itself. Why Don’t More States Use It?

Why Men Can Never Remember Anything

The XX Factor
Sept. 19 2014 1:11 PM Why Men Can Never Remember Anything
Sept. 19 2014 11:33 AM An Up-Close Look at the U.S.–Mexico Border
  News & Politics
Sept. 19 2014 1:56 PM Scotland’s Attack on the Status Quo Expect more political earthquakes across Europe.
Sept. 19 2014 3:24 PM Why Innovators Hate MBAs
Inside Higher Ed
Sept. 19 2014 1:34 PM Empty Seats, Fewer Donors? College football isn’t attracting the audience it used to.
  Double X
The XX Factor
Sept. 19 2014 4:58 PM Steubenville Gets the Lifetime Treatment (And a Cheerleader Erupts Into Flames)
  Slate Plus
Slate Picks
Sept. 19 2014 12:00 PM What Happened at Slate This Week? The Slatest editor tells us to read well-informed skepticism, media criticism, and more.
Brow Beat
Sept. 19 2014 4:48 PM You Should Be Listening to Sbtrkt
Future Tense
Sept. 19 2014 5:03 PM White House Chief Information Officer Will Run U.S. Ebola Response
  Health & Science
Medical Examiner
Sept. 19 2014 5:09 PM Did America Get Fat by Drinking Diet Soda?   A high-profile study points the finger at artificial sweeteners.
Sports Nut
Sept. 18 2014 11:42 AM Grandmaster Clash One of the most amazing feats in chess history just happened, and no one noticed.