Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Goldman Sachs boosts recruiting team in push to meet diversity goals

Stock Markets May 13, 2022 05:55PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: The logo for Goldman Sachs is seen on the trading floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 17, 2021. REUTERS/Andrew Kelly

By Carolina Mandl

NEW YORK (Reuters) - Goldman Sachs Group Inc (NYSE:GS) has doubled its diversity recruiting team and increased its budget by $10 million to help meet its goals to add more women, Blacks and Latinos to its workforce, Chief Diversity Officer Megan Hogan told Reuters on Friday.

The bank has added roughly 25 new recruiters focused on hiring diverse employees since the beginning of the year, bringing the team up to 50 people.

Hogan said Goldman Sachs has hired more experienced recruiters who will help advance its plans to have more women, Black and Latino vice presidents.

"It made a lot of sense to expand the team to include people who could reach a more experienced professional audience in terms of years of tenure and have more in depth conversations with them about career paths to the firm," said Hogan.

Wall Street banks are working to bring more diversity to their ranks, which is mainly comprised of white men.

The bank says it wants to have 7% of its employees with the title vice president to be Black and 9% to be Latino in the Americas, while it plans to have women accounting for 40% globally by 2025.

Vice presidents are typically senior roles at Wall Street banks.

In December, 32% of Goldman's vice presidents were women, 4% Black and 6% Latino, according to a regulatory filing.

Goldman has made some diversity progress among the lower ranks.

In 2019, the bank set a goal for 11% of all new analysts and entry-level associates hired in the United States and 9% hired in the United Kingdom to be Black. The bank said it also aimed for 14% to be Latino and half to be women.

Goldman met the targets for campus analyst hiring last year, it said. Recruiting at universities represents 70% of the bank's annual hirings.

Goldman Sachs boosts recruiting team in push to meet diversity goals
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (2)
Kenneth Rappold
Kenneth Rappold May 13, 2022 9:06PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Excellent to see Goldman playing a leading role and setting an example on this important issue.
Studd Muffin
FlipTicks May 13, 2022 7:04PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
lol. This is absurd
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email