The bank is expanding its goal of 50 percent female recruitment in the analysts it picks from college campuses. It will now include in that goal people hired laterally into entry-level jobs.
Goldman Sachs said it is boosting its efforts to improve diversity at the storied investment bank, setting goals for the first time for hiring black and Latino associates and saying it will tie top leaders' pay and promotions to their progress on those goals.
In a memo to employees Monday, CEO David Solomon said the bank was expanding a year-old goal of 50 percent female recruitment in the crop of analysts it picks from college campuses each year. It will now include in that goal people hired laterally into entry-level jobs and set goals for several diverse groups.
In addition to having women make up half of all incoming Goldman analysts and entry-level associates — representing 70 percent of the bank's annual hiring — the bank aims to have 11 percent of those recruits be black and 14 percent be Hispanic/Latino in the Americas.
Goldman also announced new steps to address diversity within its more senior ranks, a move that comes within weeks of the deadline to report on its gender pay gap in Britain. Last year, Goldman reported that the average hourly rate for its female employees in the United Kingdom was 55.5 percent lower than the rate for men. The median hourly rate was 36.4 percent lower for women.
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