Goldman Sachs the latest to improve offer to dads

The City institution viewed by many as typical of macho banking culture is trying to change its image with family friendly policies

 

.Goldman Sachs are the latest City firm to get on board the paternity leave revolution.

The City firm, regarded by many as a totem of macho banking culture, have boosted their paternity leave offer with immediate effect.

The firm now offers 20 weeks of paid leave for all parents. The policy applies regardless of whether they are the birth parent or not. And the same policy applies to parents who have adopted or become parents through surrogacy. The 20 week policy is the bank’s minimum across all its territories. UK workers at the firm can take up to 26 weeks off.

Goldman Sachs are part of a trend among City institutions. Bank of America, JP Morgan and Citibank all offer more than the statutory two weeks of paternity leave. Last week Edinburgh based Standard Life Aberdeen trumped all the competition in the financial sector with a mammoth 40 weeks of paid leave available as part of the option to take a whole year off following the birth of a baby.

Family friendly

Goldman Sachs has been accused of perpetuating many of the worst aspects of macho culture over the years including long hours and outings to strip clubs. But in recent years it has made a huge effort to be more family friendly.

There remains questions about how many dads will take up the leave at the firm. Many bankers fear being out of the office for an extend period would be detrimental to their careers.

“It’s the kiss of death,” Roy Cohen, career coach and author of The Wall Street Professional’s Survival Guide, said last year. “You won’t be perceived as disloyal, but others may begin to question your commitment.”

However the move is clearly part of a wider change in the City. Goldman Sachs position as a leader and role model for City behaviour makes their decision to upgrade their offer to dads particularly noteworthy.





Post a comment

Your email address will not be published.

More on firms that are doing it right

molson coors logo

Molson Coors Beverage Company

Putting People First is our first value and guides everything we do. We want working for Molson Coors to be a great and rewarding experience, giving... read more

Ageas logo

Ageas Insurance Ltd

Making a difference to people’s lives It takes a great team to build a great company. And that takes great people. We’re always looking for... read more

Azets

Why join the Azets family? The relationship that we have with our colleagues is of the upmost importance to us as a business. Your voice is important... read more

dfe logo

The Department for Education

Profile DfE Digital and Technology is part of the Department for Education (DfE). In the DfE we have over 7,500 employees, that all play a vital part... read more

View More Top Employers

Your Franchise Selection

Click the button below to register your interest with all the franchises in your selection

Request FREE Information Now

Your Franchise Selection

This franchise opportunity has been added to your franchise selection

image

title

Click the button below to register your interest with all the franchises in your selection

Request FREE Information Now


You may be interested in these similar franchises