Goldman Sachs still best bank to work for - Fortune list

In Fortune Magazine's annual ranking of the 100 best employers to work for in the US, investment banks are noticeably absent. Only Goldman Sachs made it on to the list, in 35th place.

Last year, when it was also the lone investment bank, it came 19th. Firms such as Merrill Lynch, which made the grade in the past, have dropped off the list.

The ranking, based on a random survey of 41,000 US employees at 1,000 different firms, is intended to be an indicator of employers' appeal.

Among other attributes at Goldman, staff praised the firm for ensuring that they spend 52 hours a year doing charitable work, such as visiting schools.

Milton Moskowitz of the Best Place to Work Institute in San Francisco, which assembled the list for Fortune, said the poor showing by investment banks was probably the result of job losses and the industry's decline.

However he noted that Goldman Sachs was one of only four companies that has been on the list every year since 1984.

But Goldman is now easily outdone by Edward Jones, a retail stockbroker, which was deemed the best company to work for in both 2002 and 2003.

Sixty-three per cent of employees at Edward Jones are women, it is entirely employee-owned. and it invests heavily in training. Despite the difficult conditions of 2002, Edward Jones increased employee numbers by 12%.

Citigroup and JP Morgan Chase made it on to some other Fortune lists, being ranked among the most admired companies globally and among the best companies for minorities to work for.