obviously you’re not a golfer

To be sure, there are many interesting positions to be had at SAC that most boys and girls would kill for. There’s Steve’s, which is a pretty good gig. There’s IR, which is fun. There’s president Cohnheeney’s, though few are good looking enough. There’s SC’s bodyguard, which is exciting and involves a gun. And of course there are the trading slots. They all come with great money, fleece apparel and of course prestige.

But unless you also want serious stress and pressure hanging over your head hour to hour day to day month to month, none of them are for you. You want the job where it is possible to utter the words “I’m gonna take off for a few hours, hit the links, maybe grab a sandwich” during the course of a trading session without fear of having a sand wedge shoved up your ass. You want the job that belongs to Sam Evans, SAC Capital golf pro in residence. Read more »

As discussed yesterday, three former employees of Goldman Sachs have filed suit against the bank alleging that it discriminates against females when it comes to pay, promotions and other opportunities within the firm. They also noted that there just generally seem to be a lack of respect for women there. And not just a lack of respect as it relates to their ability to make money but also their skills at golfers. Read more »

Many women report that sexism is still rife on Wall Street, albeit less overt. Sexual discrimination charges by women at finance companies dropped 28% from 2000 to 2009, according to data from the Equal Employment Opportunity Commission. But the number of charges per woman in the industry climbed during the recession in 2008 and 2009. Monica Murphy…an entrepreneur who worked at Goldman for six years, said the social aspect of the job was awkward. “I always was invited out, as were the other younger women, but oftentimes you didn’t want to go,” she said. “It was a strange thing to be 24 and to be going to drinks with 45-year-old men.” Muntean said that many of her female coworkers got smaller bonuses because they didn’t golf or pal around with male managing directors. “There were a couple that tried to be buddy-buddy with the guys, but it never really worked,” she said. “It wasn’t like the ’60s, getting slapped on the butt all the time. It was very subtle.” [FINS]

Of course, there are exceptions.

  • 12 Aug 2010 at 11:34 AM

Layoffs Watch ’10: Barclays Plans Ahead?

Congrats to all those who made it through yesterday employment intact. Having said that… Read more »

Re: the previously rumored cuts at BarCap, expected to supposedly affect 7% of the global headcount: Read more »

  • 29 Jun 2010 at 12:37 PM

FSA Sets Dangerous Precedent In Drunk Trader Case

I’m not promoting alcoholism, but like so many things in life, there are some activities many of you are better at while under the influence. Sadly, in London, one guy had to ruin it for the whole group. Steve Perkins, the oil trader who bought 7.13 million barrels of crude oil on behalf of his firm after “a drunken golf weekend” has been fined £72,000 and banned from the industry for a minimum of 5 years.

The 34-year-old, who lives in Brentwood, was a senior trader for PVM in the West End when he went on his spree last June. Working from a laptop at home after a weekend playing golf, he was able to move the oil market by engaging in huge amounts of speculative buying at ever-higher prices. In a statement, the FSA said: “Mr Perkins’ explanation for his trading on 29 and 30 June is that he was drunk. He says that he drank heavily throughout the weekend and continued drinking from around mid-day on Monday 29 June. He claims to have limited recollection of events.”

Read more »

What do we know about Fabrice Tourre, the only Goldman employee named-checked in Friday’s suit against Goldman? Save for the fact that he refers to himself as “Fabulous Fab” in emails to friends, not much, though the Daily Mail did uncover this photo of Mr. Fantabulous, I don’t know, jumping out of a plane? And a few more details on the man about to be placed a burlap sack and beaten with reeds by Lloyd Blankfein (if it hasn’t happened already):

* Ecole Centrale Paris graduate

* Masters from Stanford

* Apparently tells people he’s from a “very refined family”

* Earned £1.5million a year while working for GS in New York, where he lived in a £3,000-a-month apartment Read more »