A kinder, more restful capitalism

GOLDMAN SACHS, explains Lloyd Blankfein, its boss, is for people “interested in serving something greater than their own personal interest”. This message is conveyed to potential hires in a short film shown at recruiting events and posted on the “careers” page of the bank’s website. The film suggests that life at Goldman is mainly about getting socially useful projects off the ground. Volunteering for charity features prominently. Making money for the firm or for those who work there is scarcely mentioned. “That’s why you come and work at Goldman Sachs, because you can make a difference in the world,” the promo concludes.

Thus financial firms are selling themselves to would-be employees this recruiting season, which is well under way at universities around the world. The firms in question, aware that the financial crisis has taken a toll on their reputations, are at pains to correct students’ misapprehensions. “You may read certain things in the newspapers,” announces one evangelist, “But I’m here to tell you all what it’s really like to work for us.” The usual buzzwords—“passion”, “solutions” and “client-first”—pop up. All the presenters stress that their firm is different from the “others”.