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Jun 18 2008 12:00am EDT
Adventures in Acceleration, Goldman Sachs Edition
If you're a bond, being accelerated is not a good thing. If you're a Goldman Sachs analyst, likewise. Analysts normally have a two-year gig, after which they go on to MBAs or some other job, but Goldman Sachs has decided to "accelerate" a bunch of its analysts as part of its cost-cutting.
Bess Levin reveals the way at least one conversation went:
MD: You're being placed into the accelerated one-year analyst program.
Analyst: You mean I'm being fired?
MD: No, you're being placed into the new accelerated one-year analyst program and will be paid through August.
Analyst: I'm being fired.
Astute people, these analysts. It's how they get the job in the first place. But to make it to managing director, that takes a whole different skillset.
