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Goldman Sachs to boost minority workforce representation

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Goldman Sachs to boost minority workforce representation

Goldman Sachs Group Inc. is aiming to increase the diversity in its Americas workforce, with plans to have women, black professionals and Hispanic or Latino professionals comprise 50%, 11% and 14% of its analysts and entry-level associates, respectively.

Goldman Sachs is also aiming to have 9% of its British entry-level workforce comprise of black professionals. The company is close to reaching the campus analyst hiring targets it set in 2018.

The investment banking giant is also exploring ways to hire more lesbian, gay, bisexual, transgender, disabled and veteran employees. It will require all business divisions to interview at least two minority candidates for each open position for senior roles.

The Financial Times reported that 56.6% of Goldman Sachs' most junior staff are women, which drops to 37.2% at the professional level, 28.8% at the officials and managers level and to 21.6% at the most senior level. The company in March 2018 became a signatory to the U.K. Women in Finance Charter, in which all signatories must have women represent at least 30% of vice president level roles by 2023.

Goldman Sachs said it will report its gender pay gap statistics in the U.K. this March. In March 2018, its London-based unit Goldman Sachs International paid women 55.5% less than their male counterparts, and their bonuses were 72.2% smaller than that of male employees.