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Goldman Now Taking Ability To Make Money For The Firm Into Serious Consideration When Deciding Promotions

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Goldman has changed. Once, when promotions were decided, being a “culture carrier”—Goldman lingo for a person who is a positive force for the things the firm says it values—was at least as important as being “commercial,” i.e., someone who excels at making money. Not anymore: being commercial, I’m told, is more of a deciding factor. “I could have written [Greg Smith's] letter almost verbatim,” a former vice president tells me. “Every meeting I had at the firm for six years was ‘Where is the next dollar of revenue coming from?’ ” [Vanity Fair]