Everybody Loves Lloyd Blankfein!
Sure, Goldman Sachs had to pay the largest ever SEC fine to settle charges it wasn't honest with clients about who was behind trades in bad mortgages.
And, sure, people think less of Goldman Sachs than they do of BP, according to the Wall Street Journal.
But the company, and its CEO, are beloved by one important group—Goldman Sachs employees.
Glassdoor.com, a web site where employees rate their companies and chief executives, has just released a report showing which financial firms and top brass are most loved or hated.
Goldman Sachs CEO Lloyd Blankfein ranked first, with a whopping 97 percent approval rating, based on 248 employee ratings.
There was a three way tie for second place—Susquehanna International Group's Jeff Yass, BB&T's Kelly King , and RBC Financial's Gordon Nixon, all scoring a 96 percent approval rating.
JP Morgan's Jamie Dimon was a little further down the list with 87 percent approval, Citigroup's Vikram Pandit was waaaaay down at 45 percent, and bringing up the rear, Michael Capellas at First Data, with an anemic 23 percent. Man, I haven't seen Capellas since he and Carly Fiorina were raising their hands in victory over the HP-Compaq merger.
As for the best companies in finance to work for, Susquehanna scored highest, followed by Goldman, Scottrade, Brown Brothers Harriman, and RBC Financial.
Goldman's CEO is #1, and the company is #2?
What are employees saying?
"The culture of Goldman Sachs is unlike any place I've ever worked. One truly feels like they could reach out to anyone for help; teamwork is constant and encouraged at every level," wrote one analyst in the survey, while another said, "The payment is quite decent and there are good benefits, which is not common if you get hired to some random small company."
"The culture of Goldman Sachs is unlike any place I've ever worked. One truly feels like they could reach out to anyone for help; teamwork is constant and encouraged at every level"
What criticisms do they have?
"As with any job on Wall Street, the hours are long. But the time spent is well worthwhile as there is always plenty of work to be done and you will be rewarded for the time you put (in)," and, "Money or health, it's a question. The hard working will make you sleep tight but not easy to get up, especially in winter." As for thoughts on senior management, one analyst writes, "I think the leadership at Goldman Sachs is satisfactory. It has truly exceeded my expectations prior to entering the company."
Glassdoor reviews are written anonymously, and while writers claim to work for certain companies and have certain jobs, the web site is unable to confirm that. So it is possible that Lloyd Blankfein signed up under 248 aliases to praise his firm and himself. But that kind of energy and creativity really would be God's work.
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