Goldman Sachs is planning to ask junior analysts to verify every three months that they don’t have a job lined up elsewhere, in a periodic pledge of loyalty, Bloomberg reports.
The loyalty oaths are meant to get ahead of private equity firms, which can offer candidates jobs up to two years before a potential start date. These firms have been extending offers to junior bankers at the start of their job training at Goldman Sachs, or before they even begin training, in a process known as on-cycle recruitment.
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Goldman Sachs isn’t the only bank on Wall