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Goldman Sachs Surrenders To Milliennial Insurgency

The Death Star has gone full YOLO.

The old gray beards at Goldman better learn how to use "trigger warnings" and avoid chaos at the office.

Nearly a third of the Goldman Sachs Group’s (NYSE: GS) 425 newly minted managing directors are millennials, or people born after 1980. Forty percent were hired as analysts. Roughly 21 percent are former summer interns.

Millennials have climbed the ramparts at 200 West Street and are occupying the big kid offices in droves. Soon lunches will last forever and Gary Cohn will be forced to start meetings by asking "You guys aren't Perescoping this, are you?"

The halls will be filled with the merry sounds of entitlement and the Battery Park City Shake Shack will have the hottest Instagram account, like, ever.

But hey, at least Lloyd seems 'psyched':

The promoted “represent the best of our firm’s dedication to excellence, leadership and client service, and we wish them continued success in their careers,” Lloyd C. Blankfein, Goldman’s chairman and chief executive, said in a statement.

He did not offer comment on the idea that statistics suggest we have entered an era in which at least a few Goldman Sachs managing directors live with their parents.

The struggle is real.

Goldman Sachs Surrenders To Milliennial Insurgency [Dealbook]



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