Goldman Sachs bosses can take unlimited vacation

According to a leaked letter obtained by Insider and initially published by the Telegraph, Goldman Sachs would allow senior bankers to take an infinite amount of vacation days. According to the company, the "flexible vacation" arrangement, which became effective on May 1, allows senior bank employees to "take time off when needed without a fixed vacation day entitlement." 

The US bank also wants to implement a 15-day minimum vacation allowance for all staff next year, including at least one week of uninterrupted leave per year.

The memo stated, "As a firm, we are committed to providing differentiated benefits and solutions to encourage well-being and resilience. 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 designed to further support time off to rest and recharge." 

The new regulation could help offset the long hours worked by a workforce that pays even junior employees more than $120,000.