20 Goldman Sachs analysts have been fired for cheating in their exams
They were caught Googling the answers
A group of Goldman Sachs junior analysts have all been sacked after they were caught cheating on their exams.
It’s one of the hardest jobs in the world to land, but 20 analysts at the firm have thrown it away after getting caught using their phones in tests.
It is believed they were caught out after trying to Google terms using Goldman-issued devices, with the firings taking place in both London and New York offices.
Sebastian Howell, a Goldman Sachs spokesman in London, said in a statement: “This conduct was not just a clear violation of the rules, but completely inconsistent with the values we foster at the firm.”
A trainee analyst at a rival firm confessed to The Tab: “The culture can require people to cheat to keep up with their peers. If I really wanted to be an analyst that badly then I would have to consider it.
“But not everyone reaches the point where they want to work in a job that requires them to cheat in order to get by.
“I know that the exams are tough, because I’ve heard that a lot of studying is required to pass them.
“That combined with the long hours that some of us work (often 12 hour days), can make it more likely for people to cheat.”
When analysts first turn up at Goldman Sachs, they have to enter their very own university training and orientation program.
Analysts at the 15th best grad job in the world get trained across various topics and are forced to take exams to make sure it’s all gone in, which is common for investment banks.
In a very public shareholder letter last year, Goldman CEO Lloyd Blankfein explained just how hard it is to become an analyst at the bank.
They had more than 43,000 applications of 1,900 positions and hired just 4 per cent of them – so it’s harder to get into Goldman Sachs than Harvard.