Not only is the interview process grueling as Smith makes plain, once inside the firm employees have to continuously show their worth given a corporate culture rooted in quantitative success. If so, why not exit with a ton of publicity the latter a certain path to speaking gigs, book deals, and maybe once the 15 minutes of fame runs out, a job at a lesser investment bank in possession of a “better culture?” At the very least it can be said that Smith understands the nature of media today, and that being famous for even the most underhanded of reasons can be a path to riches even greater than the hard-won wealth earned at the most competitive investment bank in the world.Īnd hard work is what occurs at Goldman. Smith would doubtless have an explanation for the above, but would he really have left the firm if he had thought a promotion to Managing Director was in the offing? Whatever his answer, that he’d not been promoted after that many years points to his not having been on the Managing Director/Partner Managing Director track.
Much as law firms weed out underperformers if they aren’t invited into the partnership after 7 to 8 years, that Smith was still a Vice President at GS after 12 is a red flag of sorts suggesting his days there were numbered. So while the “opportunist” charge would be impossible to prove in full, one has to wonder.
This quickly will become apparent once his scribblings are analyzed against greater investment banking realities. My own perspective is that Smith is an opportunist of the first order, and worse for those taken in by his “insider’s account” of what actually goes on within the walls of the world’s foremost investment bank, what he wrote was utterly nonsensical.
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