Analysts are leaving Goldman Sachs for tech firms and then getting promoted fast
It's not just private equity funds that want to steal young analysts and associates from investment banks today. It's technology firms too - and analysts and associates seem only too happy to oblige them.
Goldman Sachs' juniors are among the defectors. Asad Malik, a former associate at Goldman Sachs in New York just moved to California. He's going to be working for Google as a financial analyst in Sunnyvale. Malik will presumably work on Google's Sunnyvale Campus, although Google's fancy new building there isn't actually opening until 2021.
Malik isn't the only ex-Goldman analyst to become a financial analyst at Google. There are plenty of others, including Nikolay Georgiev who joined Google in London in January after leaving Goldman in 2014 to become a strategy manager at start-up Airsorted. There's also Andrea Jorge, who quit Goldman in July 2018 and is now handling partnerships for EMEA business finance at Google in London.
The lure of tech isn't just about green armchairs and the opportunity to wear Birkenstocks at work. - Junior bankers who leave for technology firms also seem to get promoted fast. James Mansell, an analyst who left Goldman in 2017 and joined WeWork, was just made head of real estate underwriting and analytics for the whole of EMEA. In banking - even with accelerated promotion programs - Mansell would be a second year associate (at best) right now.
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