According to a leaked memo, senior bankers at Goldman will be allowed to take an unlimited number of days off.
The flexible vacation scheme, which took effect on May 1, allows senior staff at the bank to take time off when needed without a fixed vacation day entitlement.
A minimum holiday allowance of 15 days for all employees will be introduced next year by the US bank.
Insider asked Goldman Sachs to comment outside of normal working hours.
As a firm, we are committed to providing our people with differentiated benefits and offerings to support well-being and resilience, according to the memo.
As we continue to take care of our people at every stage of their careers and focus on the experience of our partners and managing directors, we are pleased to announce enhancements and changes to our global vacation program.
Junior staff are paid more than $120,000 so the new policy could partially offset the long hours put in by them. In an internal survey last year junior workers described their working conditions.
It is different from the removal of benefits in recent weeks, including free access to the company gym.
Major finance groups have made similar decisions to entice talent and boost retention in an increasingly tight labor market.
According to Insider, the company would close its offices for two weeks a year. McKinsey and Boston consulting Group are increasing perks to retain their staff.
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