Lunchtime Links: The mummy track at Goldman Sachs

25 March 2010

2 minute read

Lunchtime Links: The mummy track at Goldman Sachs

Given banks' apparent difficulties attracting women, the last thing they'd probably want is an accusation that they're 'boys' clubs' in which women with children are irrevocably sidelined and fired while on maternity leave.

Unfortunately, this is what has befallen Goldman Sachs. Charlotte Hanna, a former Goldman vice president is alleging that the firm:

· Put her on a 'mommy track' and fired her while she was on maternity leave

· Made her feel unwelcome when she came back from her first maternity leave

· Was like a 'boys' club.'

· Gave her no opportunity to ramp up her career after she'd decided to work part time

· Limited her opportunities for pay and advancement while she was working part time

And worst of all...

· Views working mothers as second-class citizens who should be at home with their children

Goldman Sachs is opening an office in Poland. (Bloomberg)

Companies with capital on their balance sheet of less than 100m don't have to pay the bonus tax. (The Times)

Darling to consider shareholders' veto on bonuses. (Bloomberg)

Pain on the way for the highest earners. (FT)

The Conservatives would keep Labour's taxes on the rich. (Telegraph)

SocGen hires another senior investment banker, this time from Morgan Stanley. (Bloomberg)

Average daily equity trading volumes on the LSE down 35% year on year. (Financial News)

Jon Corzine's lovely new pay package at MF Global. (BusinessWeek)

Dick Bove still thinks bank stocks may quadruple by 2012. (Bloomberg)

Swiss banks aim to expand in emerging markets. (WSJ)

The 20 hedge fund superstars hidden inside JPMorgan. (BusinessInsider)

AUTHOReFinancialCareers UK

Insider Comment

at
a tout le monde
29 March 2010
Hey luckybeggar, let's not forget that the City still pays much better than just about anybody else and unless you're an entrepreneurial genius with buckets of luck on your side, where else can you make such a good salary?! The trick is to get that above average paycheck without having the last drop of blood, morals and/or decency drained out of you. Job titles are for fools, has anybody got an Oscar or a statue for a distinguished career in the City?
Reply
lu
luckybeggar
26 March 2010
@a tout le monde Yes, but why work in the City then?
Reply
at
a tout le monde
26 March 2010
Hmm, anyone (man or woman) who puts career ahead of family (or even having one in a first place) has missed the point slightly, IMHO. Do we live to work, or do we work to support our lives? A bit difficult to identify yourself with this if you're not already a parent or a bit more mature (with a number of years of work experience behind you). Less greed and more giving and sharing makes all of us better people, and families are an ideal way to enjoy this, coupled with all the love and special emotions that come alongside. Slow down my career and have a family, or work like a dog all your life and then what? - I know what I'd rather do!
Reply
Eg
Egghead
26 March 2010
@girl: I think Golchsrule was joking. If not, he is indeed a fool.
Reply
an
another_annoyed_female
26 March 2010
I agree with "annoyedfemale", its so true that there are so many women that are willing to "slum it out" like the boys, compromise on family committments because just like the men we put career before these things and are genuinely ambitious ... yet we get secondary treatment because the ladies like the above spoil the image of working women to be those who will eventually take long maternity leaves, work part time and yet expect great benefits and full salaries...
Reply