Frustration is mounting among junior bankers at Goldman Sachs

Frustration is mounting among junior bankers at Goldman Sachs
The New York Stock Exchange (NYSE) is seen in the financial district of lower Manhattan during the outbreak of the coronavirus disease (COVID-19) in New York City, U.S., April 26, 2020. Jeenah Moon/Reuters

Good morning and welcome to Insider Finance. I'm Dan DeFrancesco, and here's what's on the agenda today:


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Junior bankers lament 'Goldman discount' as other firms raise pay and analysts who complained about 100-hour work-weeks get nothing

Analysts at the firm are warning that Goldman's resolve could cost the firm in the long run. Inside the frustration among Goldman juniors.


Goldman Sachs is having difficulty retaining junior bankers in its powerhouse TMT group as Wall Street grapples with a talent shortage

Four of the original 16 analysts who joined its TMT group in San Francisco in 2019 have remained. Here's what is going on in the division.

New research debunks the idea that private equity managers don't deserve the high fees they charge

Private equity is notorious for charging high management fees to its investors, and experts have long debated whether or not they're justified. But new research from PitchBook shows that private equity adds value to the standard portfolio. Here's why.

2 more Credit Suisse managing directors have resigned from the bank's global stock-trading business


Managing directors Bill Bors and Jason Vickery resigned from Credit Suisse's equities division, adding to the more than 50 senior personnel who have already left the Swiss bank amid a series of blunders. Get the full rundown here.

Check out our running list of departures at the Swiss bank.

Financial-services firms are racing to show they're serious about hiring diverse talent. These 3 organizations are helping them shake up the status quo.

We spoke with three organizations that are using millions of dollars to hire tens of thousands of diverse students into finance roles. Here are their plans for changing the face of finance.

Women are using Robinhood to buy up crypto, COO Gretchen Howard tells us. And it's changing crypto's bro reputation.


Robinhood has tripled the number of its female customers to around 30% of active users - a goal that was Howard's personal mission. She details how she helped women break into crypto, a traditionally male-dominated world.

The founder of $300 million Tiger grand-cub Calixto Global Investors walks us through how meme stocks and retail traders have changed how he invests

Eduardo Costa walked Insider through how he thinks about investing in the Wall Street Bets era. Here's what he said.

Odd lots:

A Banking App Has Been Suddenly Closing Accounts, Sometimes Not Returning Customers' Money (ProPublica)

Dyal Buys Stake in Phoenix Suns, Valuing Team at $1.55 Billion (Bloomberg)