Pack up your sleeping bags, you princes of West Street, you kings of Battery Park City. Tell your friends that though you will have to cancel on dinner, you won't have to miss last call at Brother Jimmy's. Let your parents know that they can call to see how everything is going between 12:30 and 6:30AM. Brag to your buddies spending their summers at Barclays that you get to shower in the apartment you're subletting. Because you're interning at the most munificent bank in all the land.
Goldman Sachs Group Inc has told its summer investment banking interns not to stay in the office overnight in a bid to improve working conditions for its junior staff. The move, according to company sources and confirmed by a Goldman spokesman, illustrates how Wall Street banks are seeking to curb excessive hours worked by young employees who see internships and entry-level jobs as a chance for a lucrative investment banking career. Goldman has told its new crop of summer banking interns they should be out of the office between the hours of midnight and 7 a.m. during the week.
You're not dreaming. This is real life.