Goldman Sachs said Wednesday it will no longer let interns work between midnight and 7 a.m.
A spokesman for the bank said the rule only applies to investment banking interns.
It might sound like a strange rule to have for young, mostly college-going, temporary summer workers. But recently, there’s been renewed scrutiny on the high-stress, high-stakes work culture of investment banks, where working through the night isn’t uncommon.
Investment banks globally are reflecting on their work culture.
“The policy is consistent with our goal of providing each intern with a challenging and meaningful experience,” Goldman spokesman Michael DuVally said the policy was “consistent with our goal of providing each intern with a challenging and meaningful experience.”
Goldman Sachs said it brings on 2,900 interns globally for its summer program and wouldn’t say how many of them worked in the investment banking division specifically.
More recently, Justin Kwan, an analyst at Barclays, made headlines for an email he wrote containing “10 Commandments” for interns that was leaked to the Wall Street Journal.
While the note was meant as a joke, the message wasn’t that far from reality.
“Enjoy your casual 9:15AM arrival time this Friday, but I wouldn’t get used to it,” he warned in the June 2 message, adding the young workers should bring in pillows for their all-nighters at the office.
