Her latest advice is targeted at college graduates. "Don't take any job based on how much it pays," she said in a TikTok last week, which was reported by CNBC.
Instead of following the money, she advises college grads to find the job where they'll learn the most and where they'll find the best boss.
"Always choose the best boss," she said. "Having a good boss will have more to do with your happiness at work than actually what you do with your day."
And she's not the only one to think so.
A bad boss can seriously impact your experience in the workplace — in fact, toxic workplace culture is one of the top reasons people quit their jobs according to MIT, and that usually starts from the top.
"A bad boss won't just jeopardize your career growth — they'll also negatively impact your personal life," Lynn Taylor, a national workplace expert, author, and leadership coach, previously told BI.
"A good manager will bring out the best in you and have a more uplifting effect on all aspects of your life," she added.
That's especially true for those starting out in their careers. One young worker wrote about how her experience with a toxic boss in her first job out of college ruined her self-confidence and made her feel a strong sense of self-doubt in the workplace.
Ukraine's President Volodymyr Zelenskyy waiting to greet US Secretary of State Antony Blinken, prior to their meeting in Kyiv on May 14, 2024.
Brendan Smialowski/Pool Photo via AP
Ukraine's president told Reuters that the West always gives it weapons a year after it needs them.
Volodymyr Zelenskyy said the West needs to be more involved in the war and shoot down Russian missiles.
Delays in US weapons deliveries have left Ukraine struggling to fight back, one expert said.
Ukrainian President Volodymyr Zelenskyy said the country's Western allies always give it weapons one year after it actually needs them.
"Every decision to which we, then later everyone together, comes to is late by around one year," Zelenskyy told Reuters on Monday.
"But it is what it is: one big step forward, but before that, two steps back," he added.
Zelenskyy made the comments after he and others spent months begging for more weapons as Russia ramped up its attacks.
Republicans in Congress finally approved a $61 billion package last month, which the Pentagon said could reach Ukraine within days.
However, delayed weapons deliveries mean Ukraine is now struggling to push back Russian advances, retired US Air Force colonel Cedric Leighton told CNN last week.
In recent weeks, Russia has launched a renewed assault on the northeastern Ukrainian region of Kharkiv.
Last week, The Institute for the Study of War reported that Russian forces appear to be creating a "buffer zone" instead of pursuing deeper offensives there.
Zelenskyy told Reuters that the situation north of Kharkiv is "under control" but that a "very powerful wave" of fighting is taking place in Donbas.
"No one even notices that there are actually more battles in the east of the country, specifically in the Donbas direction: Kurakhove, Pokrovsk, Chasiv Yar," he said.
Zelenskyy also said that the delays in weapon deliveries, and in countries' decision-making, called for a change in "paradigm," per Reuters.
As part of that shift, Zelenskyy is now asking the US and its allies to allow Ukrainian forces to use weapons supplied by them inside Russian territory, per Reuters — a suggestion the Pentagon has rejected.
Over the weekend, Russia accused Ukraine of firing Western-supplied missiles into its border region of Belgorod.
Zelenskyy also said that its NATO allies could shoot down Russian airstrikes targeting Ukraine using air defenses based on NATO territory, per the news agency.
NATO's former secretary-general, Anders Fogh Rasmussen, made a similar suggestion earlier this month.
Some NATO countries, including Estonia and France, want to go further and are considering sending their troops to Ukraine, albeit in limited ways.
"It's a question of will," Zelenskyy told Reuters.
The author and her husband posing with their home after retirement.
Courtesy of the author
After my husband retired we decided to move to a bigger house to be more comfortable.
We didn't tell anyone we were looking for a bigger house.
We now have the space we need to fulfill our hobbies and passions.
My husband retired last year, and recently, we upsized our home. For us, it was a move to what I call "rightsizing."
We lived in a large house built in 1870 in the center of town. We had great access to many shops and amenities, but the downtown was getting busier and noisier. The house needed more and more maintenance, and we had a tenant in a rental unit upstairs and we didn't want to be landlords anymore. We continuously talked about having more space.
After listing our priorities, we started looking for a newer house that we could move into "as is" as we were done renovating. We did look at a few compact houses as we were under the illusion that we needed to go smaller, but we knew in our hearts it wasn't for us.
There are different ways retiring boomers are moving, including a lateral move to another kind of space, changing the age of the house for less maintenance, changing location, and upsizing. Here's why we decided to move to a bigger house.
It felt like the timing was right
As we kept talking about more space, we also thought, if we don't do it now, when will we?
When we first walked into the house we eventually bought, I had goosebumps from the top of my head to the tips of my toes as I stood in the large foyer with marble floors and a spiral staircase. It had an enormous chef's kitchen, a finished basement, and four bathrooms, including an en-suite. The boxes were being ticked one by one. A hot tub in the back garden was a major bonus, and then my husband saw the large workshop in the basement, and his eyes lit up.
Our real-estate agent said as we gazed lovingly at the exterior, "It's a really big house for you two." We made an offer the next day and managed to sell high and buy lower.
We had made a conscious decision not to tell anyone in our circle that we were looking for a larger house because we didn't want to be swayed by their opinions and input, which was the best choice we made. The reaction of friends and family has been astounding, including, "I don't want to offend you, but why are you moving to such a big house with so many stairs at your age."
We have space to embrace hobbies and passions
We now have space to do all the things we love, but didn't have space before.
In our bigger house, my husband now has a full workshop to fulfill his dream of doing woodworking. COVID-19 made us share an office, which drove me to work at the dining table. Now we each have separate big offices on separate floors. In our old house, he would set up his drum kit, play for a while, let the grandkids play, and pack it up again. He now has his drum kit set up and space for a fly-tying desk in his large office. There is a finished basement and a nice backyard with a hot tub to soothe my rheumatoid arthritis.
We have a more active lifestyle in the suburbs now
As we had a large, centrally located older house with income, we sold for more than we bought for because we moved to a quiet suburb into a newer home.
Our old house was downtown in our city and was becoming less safe, so we wanted a quieter, safer neighborhood and opted for the suburbs. We live an active lifestyle biking, hiking, and kayaking and because of travel frequently, easy access to the airport was necessary,
When I called our insurance company with a change of address, our house and car insurance dropped in price because of less crime and fewer car thefts in our new neighborhood, validating our choice.
There's room for our family to come stay with us
We love that we now have space for our grandchildren to stay over in a larger room than before and can invite visiting friends to stay. We wanted a house that we were excited about, and we feel we have transitioned from an "empty nest" to a "welcome home."
The hot tub adds to the enthusiasm of the grandkids visiting, treating it like a pool. We feel as though every house we have sold and profited from before has been working toward this home.
Within a few weeks after moving in, we had a party hosting 65 people because it was the first time we had the space so we celebrated my husband's 70th and the new space.
Melody Wren is a freelance journalist. You can find her at: www.melodywren.com or follow her adventures @melodywrentravels
A video posted May 20 by Donald Trump's Truth Social account shows hypothetical headlines speaking of a "unified Reich" if he wins the 2024 presidential election.
CHRIS DELMAS via Getty Images
Donald Trump's Truth Social account shared a video referencing a "unified Reich."
The Biden campaign accused Trump of echoing Nazi Germany.
The Trump campaign said the wording of the video hadn't been checked.
Donald Trump's Truth Social account shared a video claiming that if he wins the presidency again, America will be a "unified Reich," in what critics say is an echo of Nazi rhetoric.
In a 30-second video posted on the former president's social media page Monday, a narrator discusses "what's next for America" if Trump wins again, and a series of hypothetical headlines are shown.
Among them is one describing a "unified Reich." The term "Reich" refers to a kingdom or empire in German and is best known for the term the Nazis used to describe their regime: "The Third Reich."
The video envisages an economic boom, the deportation of migrants, and tax cuts if Trump wins.
It was posted during a break in Trump's New York trial, where he has denied allegation that he made "hush money" payments during his 2016 campaign, ABC News reported.
The Trump campaign claimed the video was shared by a staffer who didn't see the reference to the "unified Reich" before posting it.
"This was not a campaign video, it was created by a random account online and reposted by a staffer who clearly did not see the word, while the President was in court," Karoline Leavitt, a campaign spokesperson, said in a statement. "The real extremist is Joe Biden."
President Joe Biden's campaign campaign said the post was "foreshadowing a second Trump term that says he will create a 'UNIFIED REICH,' echoing Nazi Germany."
A Biden campaign spokesman said the video showed that Trump intended to rule as a dictator if he wins power again in November's election.
"Donald Trump is not playing games; he is telling America exactly what he intends to do if he regains power: rule as a dictator over a 'unified reich," said spokesman James Singer in an emailed statement to media outlets.
According to the Associated Press, the text appears to be taken from a Wikipedia entry on World War I, which describes how Germany's economic growth after unification in 1871 was "driven by the creation of a unified Reich."
Trump has long faced controversy for posting material that critics say echoes fascist propaganda. In 2016, Trump shared a quote by Italian fascist dictator Benito Mussolini, an ally of Hitler, on X, then called Twitter.
The Biden campaign has claimed that reelection of Trump would place American democracy in danger, and the president has compared Trump's description of migrants as "vermin" at a rally last November to Nazi rhetoric.
The Trump campaign at the time said that critics were "snowflakes grasping for anything" in response to the controversy.
Scarlett Johansson said she had declined an offer from Sam Altman to voice OpenAI's AI assistant.
Jamie McCarthy/Getty Images
Elon Musk has waded into the dispute between Sam Altman and Scarlett Johansson.
It comes after Johansson criticized OpenAI for using a voice "eerily similar" to hers for ChatGPT.
Musk has a long-running feud with Altman and sued OpenAI for abandoning its founding mission.
Elon Musk has waded into the dispute between Sam Altman and Scarlett Johansson.
Musk said using a voice for ChatGPT that was "eerily similar" to Johansson's was like something out of the dystopian TV series "Black Mirror," after the actress slammed OpenAI and said she had declined Sam Altman's offer to voice the chatbot.
"Black Mirror irl," wrote Musk on X in response to a post about the controversy.
The Tesla boss has since become a frequent critic of OpenAI and its CEO and filed a lawsuit against Altman and OpenAI earlier this year, accusing the company of betraying its founding mission of developing AGI responsibly.
However, on Monday, the company abruptly announced that "Sky," the voice used in the GPT-4o demo, would be temporarily removed.
Johansson later said she had declined an offer from Altman to voice the AI assistant and was "shocked and angered" that OpenAI appeared to have used an "eerily similar" voice to her own instead.
In a statement shared with BI, Altman apologized to Johansson for not communicating better but reiterated that the Sky voice was not intended to mimic hers.
It adds to the chaos rapidly enveloping the Silicon Valley darling, with former exec Jan Leike criticizing OpenAI for putting "shiny products" ahead of safety after resigning last week.
OpenAI was not the only target of Musk's social media ire. The prolific poster also compared Microsoft's new "Recall" AI feature to a Black Mirror episode, writing on X that he would "definitely (be) turning this "feature" off."
OpenAI did not immediately respond to a request for comment made outside normal working hours.
Are you an employee at OpenAI, or do you have concerns around AI technology? Contact this reporter at tcarter@businessinsider.com
It claimed that the Promenade Trust, which operates Graceland, owes $3.8 million to Naussany Investments and Private Lending to repay a loan.
According to the notice, the home was scheduled for a public auction on Thursday at the Shelby County Courthouse.
However, Keough, a trustee of the Promenade Trust, filed a claim on May 15, alleging that the creditor used forged signatures.
Media outlets, including USA Today, citing Keough's legal team, reported that a temporary restraining order had been granted, delaying the auction.
Keough's lawyers and Graceland did not immediately respond to requests for comment.
According to the lawsuit, Lisa Marie Presley, the late daughter of Elvis Presley, is accused of borrowing $3.8 million from Naussany Investments in May 2018, and giving a deed of trust related to Graceland as collateral.
But Keough alleged in the lawsuit that the documents used were "fraudulent," claiming that her mother never borrowed the money nor gave the deed of trust.
"While the documents bear signatures that look like the signatures of Lisa Marie Presley, Lisa Marie Presley did not in fact sign the documents," the lawsuit says.
An injunction hearing is scheduled for Wednesday, according to USA Today.
Business Insider was unable to reach Naussany Investments for comment.
Keough, who recently starred in "Daisy Jones and the Six," became the trustee of Graceland after her mother died in January 2023.
The 13.8-acre estate was bought by Elvis Presley in 1957 for $102,500.
After his death in 1977, Graceland became a National Historic Landmark and one of Tennessee's top tourist attractions.
Elvis is buried there alongside several family members, including his daughter, his grandson, and his parents.
Uber and Lyft drivers were found to make less than minimum wage in five major metro areas.
Kmatta
Many gig drivers earn less than local minimum wage after expenses, UC Berkeley finds.
Researchers analyzed data from 1,088 drivers in major metro areas using the Gridwise app.
Drivers face high expenses and lack employee benefits, leading some states to advocate for reform.
Many Americans looking to make at least their local minimum wage might be unable to count on gig driving as their primary income source.
In an analysis of 52,370 trips by 1,088 drivers in the Boston, Chicago, Los Angeles, San Francisco Bay, and Seattle metros in January 2022, researchers at the UC Berkeley Labor Center and the Center for Wage and Employment Dynamics found drivers across six ride-hailing and delivery platforms often earned less than the local minimum wage, including with tips, after expenses like gas.
The researchers used data from the rideshare and delivery assistance app Gridwise to examine drivers who worked 10 or more hours. To be sure, many drivers on these platforms work just a few hours a week, and the researchers' results may not apply to those drivers. Nearly half of the drivers drove for multiple apps, and 42% of non-DoorDash drivers worked 32 hours or more a week.
!function(){“use strict”;window.addEventListener(“message”,(function(a){if(void 0!==a.data[“datawrapper-height”]){var e=document.querySelectorAll(“iframe”);for(var t in a.data[“datawrapper-height”])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data["datawrapper-height"][t]+"px";e[r].style.height=i}}}))}();
In some cases, drivers earned less than half of the local minimum wage in net employee-equivalent pay, which adjusts drivers' net pay over the entire time they're driving or looking for gigs for factors like employer payroll taxes and employee benefits. Delivery drivers in the metro areas studied outside California relied almost solely on tips and earned just 40 cents net per hour adjusted when excluding gratuities.
"Pay for gig drivers rarely exceeds the employee-equivalent local minimum wage," the authors wrote. "Most non-casual drivers would be better off if they were classified as employees, rather than as independent contractors."
Delivery drivers overall made at or above minimum wage in median gross hourly earnings with tips — $21.10 in California and $18.94 outside California — and passenger drivers made above minimum wage in all metro areas before tips — $21.61 in California and $25.41 outside California. These gross wages skyrocket when looking at engaged time, or time spent picking up and dropping off passengers or food rather than looking for the next job.
Still, expenses eat up much of these gross earnings. For delivery drivers, expenses total $7.44 per shift hour in California and $7.60 outside. For passenger drivers, it's $14.03 and $11.68, respectively.
Business Insider reached out to the six companies analyzed in the paper.
In a statement, a DoorDash spokesperson said, "As the authors make clear, this study is based on an incomplete and unrepresentative sample of app-based workers in these five cities. If they had bothered to include Dashers in their study, they would have learned that California Dashers, for example, earned around $36 per hour while on deliveries in 2023 on average, a 41% increase from 2020 before Prop 22 was enacted."
A Lyft spokesperson noted, "Earlier this year, Lyft announced a new commitment where drivers will always make at least 70% of rider fares each week after external fees. In Q1 of this year, the median U.S. Lyft driver earned $31.10 including tips and bonuses per hour of engaged time. After taking into account estimated expenses such as gas and maintenance, that's around $24.25 per engaged hour. Improving the driver experience is essential to our purpose and we are constantly listening to driver feedback."
The other four companies did not reply to the request for comment before publication.
To be sure, in February, an Uber representative told BI that "the vast majority of drivers are satisfied" and that "as of last quarter, drivers in the US were making about $33 per utilized hour" before expenses. In February, Lyft said its median US driver who used a personal vehicle earned about $30 per engaged hour before driving expenses — and $23 an hour once some driving expenses were accounted for.
The challenges of gig work
Across Uber, Lyft, Uber Eats, DoorDash, Grubhub, and Instacart, drivers almost universally had net hourly earnings well under the local minimum wage in the five studied metros — $15 in Boston, $15 in Chicago, $16.90 in Los Angeles, $18.07 in San Francisco, and $19.97 in Seattle.
Since drivers are classified as independent contractors, they don't need to be paid minimum wage in most cities or for their time and expenses between rides. The authors note these companies often engage in "algorithmic wage discrimination."
"These conditions allow the companies to take shares of passenger fares (commissions) that are higher than the levels in more competitive platform industries and to pay their workers less than what they would receive if there was more competition among the companies," the authors wrote.
Drivers pay out of pocket for expenses incurred when they're waiting for their next ride and are not paid by the app. About half of miles driven per shift and a third of shift time is spent during those waiting periods for delivery drivers. About a third of miles and 28% of shift time are spent between gigs for passenger drivers.
As part of Proposition 22, a law passed in 2020, California drivers are promised earnings of at least 120% of the local minimum wage, excluding tips. When minimum pay mandates aren't met, gig companies must pay adjustments. Though drivers under Proposition 22 don't get overtime or paid sick leave, they get paid 35 cents per mile while picking up or dropping off passengers. Drivers who work frequently also must be reimbursed for part of their healthcare premium expenses if enrolled in the state's health benefit exchange.
The report found that even with the adjustments, excluding tips, San Francisco and LA passenger drivers made less than those in the other three metro areas, though they earned $3 more factoring in tips. While two-thirds of DoorDash drivers and just under half of Uber Eats drivers had their incomes adjusted, just 5% of Uber drivers did.
Efforts to reform gig driving
This month, the California Supreme Court will hear a case concerning whether Proposition 22 is unconstitutional.
Meanwhile, in 2023, Seattle passed a law mandating that drivers must be paid at least $0.64 a minute, plus $1.50 per mile and at least $5.62 per trip. New York City also has a minimum compensation standard for gig drivers.
The authors note that when drivers have only a handful of driving gig options, companies can pay lower wages, and they can often get away with it since many workers are immigrants with few other employment opportunities.
The UC Berkeley study isn't the first to try to document the earnings of gig drivers.
For example, a study commissioned by the state of Minnesota and released on March 8 found that in 2022, drivers in the Twin Cities metro area earned $13.63 an hour after expenses, below Minneapolis's minimum wage of $15.57 an hour. Uber and Lyft took issue with the study's calculation of driving expenses. Uber and Lyft have threatened to pull out of Minnesota over the city's new pay plan for gig drivers.
A study published earlier this year of over 500,000 US gig drivers from Gridwise found that the average Uber driver made $25 an hour before expenses, including tips and bonuses. The average Lyft, Uber Eats, and DoorDash driver had hourly earnings of $24, $18, and $14, respectively.
Using Gridwise data, Big Lake Data estimated net earnings in Massachusetts to be $12.82 an hour in 2023 including tips, with expenses totaling about half of gross earnings. This month, Massachusetts sued Uber and Lyft in an attempt to classify drivers as employees.
While some drivers are unsatisfied with their pay, many Americans have turned to gig work in recent years as a source of income. The share of Bank of America customers receiving income from ride-hailing roughly tripled from less than 0.4% in March 2020 to about 1.2% as of March, exceeding pre-pandemic levels, according to a Bank of America Institute report published in late April.
Are you a gig driver who is struggling to make ends meet? Reach out to these reporters at nsheidlower@businessinsider.com or jzinkula@businessinsider.com.
Gen Z workers want many of the same things as their older counterparts.
Westend61/Getty Images
Gen Zers prioritize fair pay, career advancement, and flexibility — just like older workers.
Research shows that Gen Zers prefer hybrid work setups over fully remote or in-office.
Young employee attitudes matter because full-time Gen Z workers are set to overtake baby boomers.
Turns out Gen Zers aren't actually that different than their older counterparts.
Despite stereotypes, when it comes to their careers, they want the same things as their older peers at work: to be paid fairly, get ahead, and have flexibility.
Seramount, a professional services and research firm, conducted interviews with Gen Zers and older workers and found that — contrary to some depictions — young workers aren't just focused on logging on from home, scooping up a paycheck, and doing as little as possible to get by.
The study defined Gen Z as those born between 1997 and 2012, but the research involved only Gen Zers already in the workforce, not those still in school.
Jon Veasey-Deters, a senior research analyst at Seramount who, at 27, is a Gen Zer himself, told Business Insider that despite some differences, the youngest workers often reach for the same goals as their older counterparts.
"We're all kind of looking for the same things: to have a decent salary, to make a decent impact on the world, and to value the work that we do," he said.
Young people's expectations matter because, in 2024, Gen Zers are on track to outnumber baby boomers for the first time among full-time US workers.
Ready to commute
Veasey-Deters said one of the things older employees and workaday Gen Zers do differ on is that many young people early in their careers want to go to the office — at least some of the time.
Seramount's interviews with nearly 400 workers of various ages in the US in late 2023 found that nearly three in four Gen Zers like a hybrid setup, compared with only about half of workers in older generations. Only 11% of Gen Z wanted to work remotely full-time, compared with 34% of workers from other generations.
Veasey-Deters said many younger workers who graduated into the pandemic didn't expect to open their laptops from their kitchen tables, so they want to be around others.
"We're desiring that specific social element to our work and to better understand the colleagues that we're working with — and the organizations that we're a part of," he said.
Veasey-Deters said that for many young people, the intangible benefits of being with colleagues IRL are important, yet Gen Zers don't need to be with their coworkers every day.
"The biggest thing that we found with Gen Z is they're valuing work-life balance and flexibility, first and foremost," he said. A hybrid schedule is the best way to address that, he commented.
While bosses might not always like it, more appear to be assenting to workers' demands to let them shelve their commutes some days. In a recent survey of big-company CEOs, KPMG US found that one-third expect workers back in the office five days a week, down from about two-thirds a year earlier.
Veasey-Deters said he enjoys enjoy going to the office. "I voluntarily come in once a week and make the 25-minute commute for those social intangibles," he said.
Yet beyond the hard-to-pin-down benefits of being in one place, Veasey-Deters said many companies finding success with their RTO policies often have workers gather "with a sense of purpose" around events instead of decreeing workers have to be in the office certain days.
We all want the money
Seramount's research also indicated that younger workers aren't much more money-hungry than others. In its interviews, 51% of Gen Zers said salary was the most important part of a job, whereas 47% of older workers said the same.
For some younger workers, dealing with the high cost of college is a major obstacle. BI recently reported that more than half of Gen Z and millennial workers are living paycheck to paycheck.
Beyond money, the newest tranche of the workforce is also motivated by carving out robust relationships with their bosses. The Seramount interviews found that wanting to "perform well" for a supervisor was a major motivation. Only getting a raise or a bonus came ahead of the desire to please the boss.
Another motivation is getting ahead. In the survey, 33% of Gen Z workers told researchers they expect to be promoted to leadership roles at their company, compared with only 19% of older workers. And 44% of Gen Z workers want to be in charge of others versus only 27% of those outside that generation.
Veasey-Deters said that when companies do the right things to retain Gen Z talent, young workers appear eager to stay for a long time and build careers with their employers. But for many young workers, that means having bosses who honor principles like work-life balance, he said.
"Those are not novel things. Those are not unique to just this generation," Veasey-Deters said. "Gen Z is not that different from other generations. We're just the newest one."
Women keep leaving Goldman Sachs. What's going on?
Michael M. Santiago/Getty Images; Alyssa Powell/BI
Goldman Sachs has a problem.
Only 29% of the 2022 partner class was women — just slightly more than the previous two classes — and a flood of women leaders have recently taken their talents elsewhere. Dina Powell McCormick, head of sovereign business and sustainability efforts, left last year. Beth Hammack, a longtime partner, exited after she was passed over for the CFO role. Stephanie Cohen, once a likely CEO successor, left in March after 25 years. The Wall Street Journal recently reported that two-thirds of female partners had left or lost the title since 2018. The same was true for only 50% of male partners.
Two years ago, I joined the ranks of the women leaving Goldman. My career propelled me from an intern to a vice president in just six years, but it wasn't a walk in the park. I didn't feel like my innately feminine, sensitive self could cut it at Goldman, so I stashed her aside and stepped into an alternate persona. Under my desk, I would keep a pair of black pumps that I called my "Hollywood heels." When I put them on every morning, I channeled a thick-skinned character who thrived in a man's world.
It worked, but it was draining. Eventually, I decided I'd had enough; I left to write novels and build my own coaching and consulting business. It's been liberating to work in my authentic style, and it's made me realize how much of myself I was keeping small while at Goldman.
The lack of female leadership in the financial industry is nothing new, but many companies have been making strides. Citi has a female CEO and surpassed its 2022 goal to increase the number of women in leadership positions. Morgan Stanley has steadily increased its share of women in senior management. And two women are likely candidates to succeed JPMorgan Chase CEO Jamie Dimon. But at Goldman, the problem has only gotten worse.
In 2023, Goldman paid $215 million to settle a lawsuit filed in 2010 that alleged it had discriminated against thousands of female employees. Earlier this year, CEO David Solomon told the Journal: "Advancing women into our most senior ranks is an area where we have not accomplished our goals." But as I watch senior women continue their exodus from Goldman, I'm not sure the company actually wants to change.
Bringing women in the door isn't Goldman's problem — in its most recent hiring report, 50% of its entry-level analysts were women. The problem is that it can't keep women, especially those in leadership roles, around.
In my first role, I was the only woman investor on a team of 20 men. Without role models to reflect different ways to be a leader, I felt like I had to mimic the masculine way to succeed. I wore a pantsuit and muted my personality; I played golf, talked football, and cried in the bathroom stall so I wouldn't be seen shedding tears at my desk. My out-of-the-box ideas were discouraged. I was told to stick to the Excel templates and precisely formatted PowerPoint decks, and to stop using exclamation points in my emails. My schedule was whatever the male leadership pushed: 7 a.m. to 10 p.m. during the week and long hours most weekends.
Many financial firms have a rigid culture, but Goldman's takes it to the next level — and women tend to bear the brunt.
When I took my first week of vacation after being at Goldman for over a year, my manager lectured me for not replying to emails or updating financial models during my personal time off. I told him that I had been hiking off the grid with my mom and hadn't had much cell service. "Next time, choose a vacation spot with better reception," he told me. Jaw clenched, I agreed.
Many financial firms have a rigid culture, but Goldman's takes it to the next level — and women tend to bear the brunt. Take the firm's strict return-to-office policy as an example. While many companies have modernized to embrace hybrid and remote work, Goldman has not. This disproportionately hurts women, as research has found women are more likely to thrive and stay at companies longer when they have hybrid and flexible working environments. In a 2023 survey by International Workplace Group, 72% of women polled said they would look for a new job if their company took away their option for hybrid work. And a recent McKinsey survey found that two of the top priorities for the women in the poll when picking a job were the ability to work remotely and control when they work.
Rather than changing its "be in the office every day and grind it out" culture to better suit women, Goldman puts the onus on us to change ourselves to fit the model.
Jacki Zehner, a former Goldman partner turned CEO of the women's networking platform ShePlace, recently wrote about the company on LinkedIn. The biggest reason women leave, she said, is "not feeling valued."
This resonated with me. Feeling — and being — undervalued means women miss out on promotions. McKinsey calls this the "broken rung": For every 100 men promoted from an entry level role to manager in 2023, only 87 women were promoted, according to their survey of 27,000 workers in the US and Canada. This disparity out of the gate creates a leadership-pipeline problem down the road.
While leadership styles vary from person to person, research suggests that women and men tend to lead differently. In her book, "When Women Lead," the CNBC reporter Julia Boorstin says women are more likely to lead with empathy, vulnerability, gratitude, communal leadership, and a greater sense of purpose. Boorstin's reporting found that women were more likely than men to invest in mentorship and have more diverse teams. The differences translate to financial results: In a recent study, McKinsey found that companies with at least 30% female leaders tended to outperform financially.
Goldman says it understands the importance of female leadership. "When women lead, everything changes," its corporate site says. The company offers a women's network, encourages male allyship, and talks a big game about diversity. But Goldman leadership seems to want the benefits of gender diversity without the hard work of supporting diverse leadership styles. For all the talk, I never noticed it trickle down to how it actually felt to work there. My female coworkers and I talked about it frequently — Goldman was squandering our talents by making us conform to the small box of how finance was supposed to be done. It felt like they were glad to have recruited such bright, multidimensional women but had no interest in empowering our gifts.
When we contemplated what it would take to rise into the senior ranks, we knew we would be compromising too much.
As I moved up at Goldman, I tried to incorporate more of my true self at work, whether that meant letting out my bubbly laugh or writing a "Goldman Sachs joy newsletter" to boost morale. Many colleagues appreciated my style, especially when I worked for a year in the London office. But in New York, I met resistance. When colleagues found my poetry on Instagram, they made negative comments to me about how emotional the poems were. When I brought in cookies for my team, I was told I should have been building financial models instead of baking.
These are small examples, but that's where bias often lives — in the million little ways women are told to tweak themselves to be more like men. The implication is that our way is lesser. I became a VP at 28, but I was burned out — not from the work itself but from the parts of me I had to dim along the way. The internal balancing act pushed me out.
Nearly two dozen of my women friends at the VP and managing-director levels have also left Goldman to join companies — or start companies — where they have more freedom, whether that means hybrid work, greater autonomy, or the ability to be promoted based on the quality of their work, rather than who they knew.
Goldman was a great place for us to start our careers, but when we contemplated what it would take to rise into the senior ranks, we knew we would be compromising too much.
From what I've seen, the C-suite men who reinforce Goldman's culture generally have good intentions. They assume that because their way worked for them, everyone else should follow suit. But when a woman doesn't fit the typical pattern or mold for CEO or partner, she's passed over.
As more women leave Goldman, the business itself suffers. Data shows that companies in the top 10% financially have more women in leadership positions. These companies excel because their women leaders act differently. Sometimes they see things that others miss. Just look at the 2008 financial crash.
If Goldman can manage to grow its ranks of women leaders, more women will follow. Deloitte found that for each woman added to a financial firm's C-suite, there's a positive, quantifiable impact on the number of senior women in levels just below the C-suite. We all need role models to show us what's possible. Women like Asahi Pompey and Yassaman Salas, Goldman partners whose commitment to being themselves radiates like a superpower, and Rebecca Anderton-Davies, a managing director who also shines as an author and yogi, show me there's hope.
Since I left two years ago, Goldman has been good to me. They bought copies of my book and hosted me to speak with interns. But when one intern asked how I "brought my full self to work" — one of Goldman's favorite slogans — I sidestepped the question. The truth was, I didn't bring my full self. Most of the time, I kept my feminine side tucked away, and I was rewarded for it.
Since leaving, I've been able to let my full self shine. I delivered a TEDx talk comparing Wall Street dealmaking to modern dating — something I would not have had the autonomy to do if I were still at Goldman. And rather than matching my schedule to Goldman's rigid model, I'm able to honor the natural ebbs and flows of my productivity. My feminine side is no longer a liability; it's an asset. I lead creativity and breathwork workshops, write women-centered novels, and mentor clients to help them build their dream careers.
I'm grateful to Goldman for launching my career, but it has a lot of room for improvement. And until it turns things around, don't be surprised when talented women keep walking out. We know there are other places we can go.
Wendy's is introducing a new $3 breakfast combo meal.
Diners have been increasingly frustrated with high fast food prices since the pandemic.
Rival chain McDonald's has also launched a new low-price offering.
Wendy's has launched a new $3 breakfast combo meal, as high fast-food prices have started to push customers away.
Customers can pair a small portion of seasoned potatoes with a choice between two breakfast muffins — a bacon, egg, and cheese English muffin or a sausage, egg, and cheese English muffin, the company said. The deal is on offer for a limited period.
This new lower-price offering comes as customers are increasingly frustrated by rising fast-food prices.
But it seems like the fast-food chains are starting to take note.
Earlier this month, Wendy's CFO, Gunther Plosch, told investors that consumers were "still under pressure" — especially those with lower household incomes. "They are reducing frequency, so visitation is down," he said.
Wendy's isn't the only fast-food chain trying to lure customers with value meals.
McDonald's plans to start offering a $5 deal, where customers can choose between two of the chain's signature burgers — a McChicken or a McDouble — and get four-piece McNuggets, fries, and a drink. But customers aren't happy that the offer will only be available for one month.