Goldman Sachs reputation score has improved since the financial crisis

Goldman
CEO Lloyd Blankfein steered the firm during the financial
crisis.

Getty/Joe
Raedle

• Goldman Sachs’ reputation has recovered since the
  depths of the financial crisis, according to a new
  report.
• Slightly more adults would now feel “proud” to work at
  Goldman, as opposed to “embarrassed.” 

Once called a “great vampire squid” in the depths of the
financial crisis, Goldman Sachs’ image has recovered in the last
10 years. 

Slightly more American adults would now feel “proud” to work for
the Wall Street giant, as opposed to “embarrassed,” according to
new data from YouGov’s Plan & Track, a research firm
tracking brand awareness and perception. 

This change comes after the firm’s reputation score — which
gauges how open US consumers aged 18 and up are to being employed
at a particular brand — spent years emerging from negative
territory following the financial crisis, the data
shows. 

During the financial crisis, Goldman was publicly vilified
for its role in the U.S. mortgage meltdown and the billions of
dollars paid out in bonuses to senior employees. 

But in the last several years, CEO Lloyd Blankfein worked
hard to turn around Goldman’s reputation by becoming less
secretive and
spearheading several initiatives for women and small business
owners. 

Incoming CEO David Solomon, who
will take over from Blankfein on Oct. 1, is also viewed
as symbolic of Goldman’s transformation into less of a
traditional, stodgy bank
and more of a nimble technology company. 

YouGov reputation scores range from -100 to 100. Bank of America
Merrill Lynch and Morgan Stanley each have a reputation score of
12, while Goldman Sachs’ score is 1. 

New
data from YouGov’s Plan & Track shows that slightly more
American adults would now feel “proud” rather than “embarrassed”
to work for Goldman Sachs.

(Screenshot:
YouGov’s Plan & Track)

Those who say they would be proud to work for Goldman Sachs
are most likely to be men who between the ages of 50 and 64, live
in a suburb, and received high school education, according to
YouGov data.   

Political affiliation also plays a role on their
perceptions of Wall Street. L
iberals place Goldman’s
reputation score at -12, moderates give it a 3, and
conservatives, who are more likely to say they’d be proud to work
for the banking behemoth, rate it at 10.

Two-thirds of respondents who said they are open to work at
Goldman Sachs also tend to say they trust banks and credit
unions, compared to 47% of U.S. adults overall.

A spokeswoman for Goldman Sachs declined to comment on the
report. 

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