Why I Am Leaving Goldman Sachs

There are a few lessons in there for a few tech companies as well I think. If your customers don't trust you then they will leave. OR not begin using you in the first place.

However big you are supporting your customers and being contactable when there are problems is an essential cost of business.

Many of the sentiments expressed by the author are shared by developers and other technical staff working in the finance industry. In places like London and New York, finance has, for a long time, managed to get the best technical staff by paying the highest wages even if the work is less interesting. This has been detrimental to other industries in the same regions. As morale declines in finance firms, however, this is changing.

I keep thinking about this article and the recent Google one as well. And I wonder, is this sort of moral decay necessarily part of the current corporate world? Is it possible, over the long run, to have a tech firm, or any other firm, that empowers employees to do what is best for everyone and to hell with the rules? Or is this merely a matter of a few good leaders who get it, and everyone else eventually overcoming them?

When I worked at Microsoft in Product Support Services, our general director "got it" and encouraged us to break any rule if it helped the customer out, so long as we did so reasonably responsibly, something I took him up on to the point it seriously annoyed my direct manager. He left, and the group I worked with ended up getting shipped off to India. And given more recent discussions with Microsoft customer service, the question of "how do we deliver quality customer service" has become far less important.

I guess my musings lead me to the thinking that being good requires a level of confidence that is easy to lose as an organization, and that as it is lost, the organization can turn toxic fast. But we can't succeed all the time. We will face huge challenges. So how do we resist the urge to turn and focus only on the immediate challenge, whether a competitor or the bottom line?

One hypothesis could be that all organizations go through waves of growth and success which then impact the subsequent talent they attract.

In other words, the most recent wave of talent that Greg Smith talks about is more interested in being associated with the Goldman brand, rather than the genuinely possessing the underlying desire to be world class bankers.

Also, perhaps this happened years ago and now its too late because those B players are now running the show.

Way to leave in style, good for him. I hope it gives the firm the wake up call it needs.

I left a couple of years ago after a three year stint. It was partly out of the boredom of babysitting a legacy platform that had little future, but mostly because the department's role devolved into getting away with doing the minimum for clients to justify our fees.

No matter how well GS pays, despite the relatively poor bonuses, it's not going to be possible to attract and retain the kind of staff they need. I wonder how many other nerds sit at their desks and catch a minute's respite by daydreaming of building something great? If they're lucky enough to have the freedom and enough of a financial cushion to take the leap I highly recommend it. I've not been happier since.